Hyman Charles D Cuts Position in Truist Financial Co. (NYSE:TFC)

Hyman Charles D lowered its stake in shares of Truist Financial Co. (NYSE:TFC) by 3.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 107,989 shares of the insurance provider’s stock after selling 3,695 shares during the period. Hyman Charles D’s holdings in Truist Financial were worth $3,987,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Truist Financial by 0.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 513,851 shares of the insurance provider’s stock valued at $14,701,000 after purchasing an additional 2,634 shares during the last quarter. Mackenzie Financial Corp raised its position in Truist Financial by 10.3% during the third quarter. Mackenzie Financial Corp now owns 152,687 shares of the insurance provider’s stock worth $4,152,000 after acquiring an additional 14,230 shares during the last quarter. Castleview Partners LLC lifted its holdings in shares of Truist Financial by 2,428.0% in the third quarter. Castleview Partners LLC now owns 3,337 shares of the insurance provider’s stock valued at $95,000 after purchasing an additional 3,205 shares in the last quarter. IFM Investors Pty Ltd grew its position in shares of Truist Financial by 3.7% in the third quarter. IFM Investors Pty Ltd now owns 280,475 shares of the insurance provider’s stock valued at $8,024,000 after purchasing an additional 9,926 shares during the last quarter. Finally, Washington Capital Management Inc. purchased a new position in shares of Truist Financial during the 3rd quarter worth approximately $343,000. 71.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. HSBC upped their target price on Truist Financial from $37.00 to $39.00 and gave the company a “hold” rating in a research note on Thursday, March 28th. Piper Sandler lifted their price objective on Truist Financial from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, January 19th. Royal Bank of Canada raised their price target on shares of Truist Financial from $40.00 to $42.00 and gave the stock an “outperform” rating in a research note on Friday, January 19th. JPMorgan Chase & Co. lifted their price target on shares of Truist Financial from $39.50 to $40.50 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Finally, Compass Point raised shares of Truist Financial from a “neutral” rating to a “buy” rating and upped their price objective for the company from $34.00 to $42.00 in a research note on Tuesday, April 23rd. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $41.88.

Truist Financial Trading Down 0.8 %

Shares of Truist Financial stock traded down $0.31 during trading hours on Tuesday, reaching $39.11. The stock had a trading volume of 10,142,143 shares, compared to its average volume of 9,458,070. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.75. Truist Financial Co. has a 1 year low of $26.49 and a 1 year high of $40.35. The firm has a market capitalization of $52.20 billion, a price-to-earnings ratio of -29.63, a P/E/G ratio of 2.03 and a beta of 1.07. The firm has a 50 day simple moving average of $37.34 and a two-hundred day simple moving average of $35.39.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.12. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The company had revenue of $4.87 billion during the quarter, compared to the consensus estimate of $5.70 billion. During the same period in the previous year, the firm earned $1.09 earnings per share. Truist Financial’s revenue for the quarter was down 8.8% on a year-over-year basis. As a group, equities research analysts anticipate that Truist Financial Co. will post 3.3 earnings per share for the current year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 10th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 5.32%. The ex-dividend date of this dividend is Thursday, May 9th. Truist Financial’s dividend payout ratio (DPR) is presently -157.58%.

Insider Buying and Selling at Truist Financial

In other news, Director K. David Jr. Boyer sold 3,764 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $37.48, for a total value of $141,074.72. Following the completion of the sale, the director now owns 16,132 shares in the company, valued at $604,627.36. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.17% of the stock is currently owned by corporate insiders.

Truist Financial 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.