Monument Capital Management Sells 960 Shares of Truist Financial Co. (NYSE:TFC)

Monument Capital Management trimmed its holdings in shares of Truist Financial Co. (NYSE:TFC) by 4.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 22,297 shares of the insurance provider’s stock after selling 960 shares during the quarter. Monument Capital Management’s holdings in Truist Financial were worth $823,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Truist Financial by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 117,271,628 shares of the insurance provider’s stock valued at $3,355,141,000 after buying an additional 365,871 shares during the period. Royal Bank of Canada boosted its stake in shares of Truist Financial by 5.0% in the 3rd quarter. Royal Bank of Canada now owns 15,384,890 shares of the insurance provider’s stock valued at $440,162,000 after purchasing an additional 732,801 shares in the last quarter. Morgan Stanley boosted its stake in shares of Truist Financial by 0.3% in the 3rd quarter. Morgan Stanley now owns 15,364,138 shares of the insurance provider’s stock valued at $439,568,000 after purchasing an additional 39,510 shares in the last quarter. Truist Financial Corp boosted its stake in shares of Truist Financial by 0.5% in the 3rd quarter. Truist Financial Corp now owns 5,197,904 shares of the insurance provider’s stock valued at $148,712,000 after purchasing an additional 26,972 shares in the last quarter. Finally, Jennison Associates LLC boosted its stake in shares of Truist Financial by 45.1% in the 3rd quarter. Jennison Associates LLC now owns 3,673,609 shares of the insurance provider’s stock valued at $105,102,000 after purchasing an additional 1,141,944 shares in the last quarter. 71.28% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. UBS Group raised their price target on shares of Truist Financial from $45.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Raymond James lifted their target price on shares of Truist Financial from $34.00 to $41.00 and gave the stock an “outperform” rating in a research report on Friday, January 5th. Piper Sandler lifted their target price on shares of Truist Financial from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, January 19th. TheStreet downgraded shares of Truist Financial from a “b-” rating to a “c” rating in a research report on Tuesday, February 20th. Finally, Wells Fargo & Company lifted their target price on shares of Truist Financial from $39.00 to $45.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $41.56.

Truist Financial Stock Up 3.8 %

TFC stock traded up $1.40 during midday trading on Monday, reaching $38.20. 7,539,739 shares of the company’s stock traded hands, compared to its average volume of 9,649,462. The company has a market cap of $50.98 billion, a price-to-earnings ratio of -35.36, a P/E/G ratio of 2.27 and a beta of 1.08. The firm’s fifty day moving average price is $36.64 and its 200-day moving average price is $34.54. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.74. Truist Financial Co. has a 52 week low of $25.56 and a 52 week high of $39.29.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.12. The firm had revenue of $4.87 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%. The business’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.09 EPS. As a group, sell-side analysts forecast that Truist Financial Co. will post 3.33 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 9th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 5.45%. The ex-dividend date of this dividend was Thursday, February 8th. Truist Financial’s dividend payout ratio is presently -192.59%.

Insider Activity

In related news, Director K. David Jr. Boyer sold 3,764 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $37.48, for a total value of $141,074.72. Following the transaction, 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 can be accessed through the SEC website. Company insiders own 0.17% of the company’s stock.

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.