Truist Financial Corporation $TFC Shares Sold by Capital International Sarl

Capital International Sarl lowered its stake in shares of Truist Financial Corporation (NYSE:TFC) by 61.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,657 shares of the insurance provider’s stock after selling 26,895 shares during the period. Capital International Sarl’s holdings in Truist Financial were worth $762,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Valley Wealth Managers Inc. acquired a new stake in shares of Truist Financial in the 3rd quarter worth approximately $28,000. Capital A Wealth Management LLC raised its holdings in Truist Financial by 1,189.5% during the second quarter. Capital A Wealth Management LLC now owns 735 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 678 shares during the last quarter. Darwin Wealth Management LLC raised its holdings in Truist Financial by 631.6% during the third quarter. Darwin Wealth Management LLC now owns 695 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 600 shares during the last quarter. Twin Peaks Wealth Advisors LLC purchased a new stake in Truist Financial during the second quarter worth $36,000. Finally, Tripletail Wealth Management LLC acquired a new stake in Truist Financial in the third quarter valued at $37,000. 71.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TFC has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods raised their price target on Truist Financial from $49.00 to $53.00 and gave the company a “market perform” rating in a research report on Wednesday, December 17th. TD Cowen increased their price objective on shares of Truist Financial from $59.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. Weiss Ratings upgraded shares of Truist Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 25th. Raymond James Financial lifted their target price on shares of Truist Financial from $50.00 to $56.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 7th. Finally, Piper Sandler upped their price target on shares of Truist Financial from $50.00 to $53.00 and gave the company a “neutral” rating in a report on Thursday, January 22nd. Ten investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Truist Financial currently has an average rating of “Moderate Buy” and an average target price of $56.47.

Insiders Place Their Bets

In other Truist Financial news, CAO Cynthia B. Powell sold 3,500 shares of the company’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $52.49, for a total transaction of $183,715.00. Following the completion of the sale, the chief accounting officer directly owned 667 shares in the company, valued at $35,010.83. This represents a 83.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Michael Baron Maguire sold 13,000 shares of the firm’s stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $50.13, for a total value of $651,690.00. Following the completion of the transaction, the chief financial officer owned 74,323 shares in the company, valued at approximately $3,725,811.99. This trade represents a 14.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.17% of the stock is currently owned by company insiders.

Truist Financial Price Performance

TFC opened at $45.67 on Thursday. The company’s 50 day simple moving average is $50.81 and its 200 day simple moving average is $47.73. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.86 and a current ratio of 0.87. Truist Financial Corporation has a 1 year low of $33.56 and a 1 year high of $56.19. The stock has a market capitalization of $57.05 billion, a PE ratio of 11.99, a P/E/G ratio of 0.79 and a beta of 0.87.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Wednesday, January 21st. The insurance provider reported $1.00 EPS for the quarter, missing the consensus estimate of $1.09 by ($0.09). The company had revenue of $4.93 billion for the quarter, compared to analyst estimates of $5.32 billion. Truist Financial had a return on equity of 9.03% and a net margin of 17.09%.The business’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period last year, the company posted $0.91 EPS. As a group, sell-side analysts expect that Truist Financial Corporation will post 4 EPS for the current year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Friday, February 13th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend was Friday, February 13th. Truist Financial’s dividend payout ratio (DPR) is 54.59%.

Truist Financial announced that its board has initiated a share buyback program on Tuesday, December 16th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the insurance provider to buy up to 15.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

About Truist Financial

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.