Truist Financial Co. (NYSE:TFC) Holdings Lowered by M&T Bank Corp

M&T Bank Corp reduced its position in shares of Truist Financial Co. (NYSE:TFC) by 2.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 110,701 shares of the insurance provider’s stock after selling 3,130 shares during the period. M&T Bank Corp’s holdings in Truist Financial were worth $4,087,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of TFC. Morton Brown Family Wealth LLC raised its position in Truist Financial by 236.0% in the fourth quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 649 shares in the last quarter. OFI Invest Asset Management acquired a new position in shares of Truist Financial in the 3rd quarter worth approximately $26,000. Criterion Capital Advisors LLC acquired a new position in Truist Financial in the fourth quarter worth approximately $38,000. Operose Advisors LLC bought a new position in shares of Truist Financial in the third quarter valued at $31,000. Finally, Tyler Stone Wealth Management acquired a new stake in shares of Truist Financial during the 3rd quarter valued at $33,000. Institutional investors own 71.28% of the company’s stock.

Analyst Ratings Changes

TFC has been the topic of a number of analyst reports. Royal Bank of Canada lifted their price target on Truist Financial from $40.00 to $42.00 and gave the stock an “outperform” rating in a research note on Friday, January 19th. StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a report on Thursday, May 2nd. Compass Point raised shares of Truist Financial from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $34.00 to $42.00 in a research note on Tuesday, April 23rd. HSBC boosted their target price on shares of Truist Financial from $37.00 to $39.00 and gave the company a “hold” rating in a research note on Thursday, March 28th. Finally, Jefferies Financial Group lifted their price target on Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a report on Monday, April 8th. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.88.

Truist Financial Trading Down 0.8 %

Truist Financial stock opened at $39.11 on Wednesday. Truist Financial Co. has a one year low of $26.49 and a one year high of $40.35. The company’s fifty day moving average price is $37.34 and its two-hundred day moving average price is $35.39. The company has a market capitalization of $52.20 billion, a price-to-earnings ratio of -29.63, a PEG ratio of 2.03 and a beta of 1.07. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.82 and a quick ratio of 0.82.

Truist Financial (NYSE:TFC) last announced its earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.12. The firm had revenue of $4.87 billion during the quarter, compared to the consensus estimate of $5.70 billion. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The firm’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.09 EPS. On average, analysts forecast that Truist Financial Co. will post 3.3 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 10th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 5.32%. The ex-dividend date is Thursday, May 9th. Truist Financial’s payout ratio is currently -157.58%.

Insider Activity at Truist Financial

In other news, Director K. David Jr. Boyer sold 3,764 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $37.48, for a total transaction of $141,074.72. Following the sale, the director now directly owns 16,132 shares in the company, valued at $604,627.36. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.17% of the company’s stock.

Truist Financial Company Profile

Truist Financial Corporation, a financial services 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.