Truist Financial Co. (NYSE:TFC) Stake Lessened by NBC Securities Inc.

NBC Securities Inc. trimmed its stake in shares of Truist Financial Co. (NYSE:TFC) by 2.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,035 shares of the insurance provider’s stock after selling 1,162 shares during the quarter. NBC Securities Inc.’s holdings in Truist Financial were worth $1,669,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Capital International Investors lifted its position in shares of Truist Financial by 93.7% during the first quarter. Capital International Investors now owns 11,643,242 shares of the insurance provider’s stock worth $453,854,000 after purchasing an additional 5,632,493 shares during the last quarter. Legal & General Group Plc lifted its holdings in Truist Financial by 1.0% during the 2nd quarter. Legal & General Group Plc now owns 10,338,802 shares of the insurance provider’s stock worth $401,663,000 after buying an additional 103,565 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Truist Financial by 3.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,932,261 shares of the insurance provider’s stock worth $346,957,000 after buying an additional 299,196 shares during the last quarter. Truist Financial Corp increased its holdings in shares of Truist Financial by 6.7% in the 2nd quarter. Truist Financial Corp now owns 4,931,783 shares of the insurance provider’s stock valued at $191,600,000 after acquiring an additional 311,523 shares during the last quarter. Finally, Jennison Associates LLC raised its position in shares of Truist Financial by 48.9% during the 1st quarter. Jennison Associates LLC now owns 3,840,374 shares of the insurance provider’s stock valued at $149,698,000 after acquiring an additional 1,261,598 shares in the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Trading Up 0.7 %

Shares of NYSE:TFC opened at $43.91 on Wednesday. Truist Financial Co. has a twelve month low of $26.95 and a twelve month high of $45.31. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61. The firm has a market cap of $58.76 billion, a P/E ratio of -33.27, a P/E/G ratio of 1.78 and a beta of 1.05. The company has a 50 day moving average of $42.55 and a 200-day moving average of $40.20.

Truist Financial (NYSE:TFC) last announced its earnings results on Monday, July 22nd. The insurance provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.07. Truist Financial had a positive return on equity of 9.18% and a negative net margin of 5.63%. The business had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $4.83 billion. During the same quarter last year, the business posted $0.95 earnings per share. The company’s quarterly revenue was down 15.9% on a year-over-year basis. As a group, analysts anticipate that Truist Financial Co. will post 3.55 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.74%. The ex-dividend date of this dividend was Friday, August 9th. Truist Financial’s dividend payout ratio is presently -157.58%.

Insider Buying and Selling

In related news, CEO William H. Rogers, Jr. purchased 57,300 shares of the company’s stock in a transaction on Tuesday, July 23rd. The shares were bought at an average price of $43.96 per share, with a total value of $2,518,908.00. Following the completion of the acquisition, the chief executive officer now owns 569,271 shares of the company’s stock, valued at approximately $25,025,153.16. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO William H. Rogers, Jr. purchased 57,300 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were purchased at an average price of $43.96 per share, with a total value of $2,518,908.00. Following the purchase, the chief executive officer now owns 569,271 shares of the company’s stock, valued at $25,025,153.16. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Cynthia B. Powell sold 6,688 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $44.14, for a total transaction of $295,208.32. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by insiders.

Analyst Ratings Changes

TFC has been the subject of a number of research reports. Morgan Stanley lifted their price objective on shares of Truist Financial from $46.00 to $51.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Stephens reaffirmed an “overweight” rating and issued a $50.00 price target on shares of Truist Financial in a report on Tuesday, September 10th. Citigroup cut shares of Truist Financial from a “buy” rating to a “neutral” rating and raised their target price for the stock from $45.00 to $47.00 in a report on Wednesday, July 24th. Royal Bank of Canada lifted their target price on Truist Financial from $42.00 to $45.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Finally, Keefe, Bruyette & Woods increased their price target on Truist Financial from $46.00 to $48.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Truist Financial presently has an average rating of “Hold” and a consensus price target of $45.45.

About Truist Financial

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.