Mitsubishi UFJ Trust & Banking Corp Sells 27,212 Shares of Truist Financial Co. (NYSE:TFC)

Mitsubishi UFJ Trust & Banking Corp lowered its position in shares of Truist Financial Co. (NYSE:TFCFree Report) by 3.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 760,003 shares of the insurance provider’s stock after selling 27,212 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Truist Financial were worth $21,744,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Fairfield Bush & CO. bought a new position in Truist Financial in the 1st quarter worth $25,000. United Bank raised its holdings in Truist Financial by 4.1% in the 1st quarter. United Bank now owns 74,457 shares of the insurance provider’s stock worth $4,222,000 after purchasing an additional 2,938 shares in the last quarter. Panagora Asset Management Inc. raised its holdings in Truist Financial by 33.3% in the 1st quarter. Panagora Asset Management Inc. now owns 26,365 shares of the insurance provider’s stock worth $1,495,000 after purchasing an additional 6,593 shares in the last quarter. Vontobel Holding Ltd. raised its holdings in Truist Financial by 3.3% in the 1st quarter. Vontobel Holding Ltd. now owns 22,951 shares of the insurance provider’s stock worth $1,348,000 after purchasing an additional 738 shares in the last quarter. Finally, Blair William & Co. IL raised its holdings in Truist Financial by 8.1% in the 1st quarter. Blair William & Co. IL now owns 56,690 shares of the insurance provider’s stock worth $3,214,000 after purchasing an additional 4,234 shares in the last quarter. Hedge funds and other institutional investors own 71.11% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. UBS Group upped their price objective on shares of Truist Financial from $37.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Evercore ISI increased their price target on shares of Truist Financial from $31.00 to $33.00 and gave the stock an “in-line” rating in a research note on Monday, November 20th. Barclays raised their price objective on shares of Truist Financial from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 2nd. Bank of America upgraded shares of Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 price objective for the company in a research note on Thursday, January 4th. Finally, StockNews.com lowered shares of Truist Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $39.87.

Read Our Latest Stock Report on TFC

Truist Financial Stock Performance

Shares of NYSE TFC opened at $35.84 on Monday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.74. The firm’s 50-day moving average price is $36.44 and its 200-day moving average price is $32.14. Truist Financial Co. has a 52-week low of $25.56 and a 52-week high of $49.32.

Truist Financial (NYSE:TFCGet Free Report) last posted its quarterly earnings data on Thursday, January 18th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.13. The company had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.70 billion. Truist Financial had a negative net margin of 3.28% and a positive return on equity of 9.64%. During the same quarter last year, the firm posted $1.30 earnings per share. As a group, equities analysts predict that Truist Financial Co. will post 3.39 earnings per share for the current year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Friday, February 9th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 5.80%. The ex-dividend date of this dividend is Thursday, February 8th. Truist Financial’s payout ratio is -192.59%.

Truist Financial Profile

(Free Report)

Truist Financial Corporation, a holding company, provides banking and trust services in the Southeastern and Mid-Atlantic United States. The company operates through three segments: Consumer Banking and Wealth, Corporate and Commercial Banking, and Insurance Holdings. Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.

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Institutional Ownership by Quarter for Truist Financial (NYSE:TFC)

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