Truist Financial Co. (NYSE:TFC) Shares Sold by WBI Investments LLC

WBI Investments LLC decreased its holdings in Truist Financial Co. (NYSE:TFC) by 6.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 16,653 shares of the insurance provider’s stock after selling 1,218 shares during the period. WBI Investments LLC’s holdings in Truist Financial were worth $615,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Truist Financial during the 4th quarter worth approximately $307,787,000. North Reef Capital Management LP acquired a new stake in shares of Truist Financial during the 3rd quarter worth approximately $66,804,000. Assenagon Asset Management S.A. increased its holdings in shares of Truist Financial by 342.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,526,939 shares of the insurance provider’s stock worth $72,296,000 after buying an additional 1,955,448 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Truist Financial by 8.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 19,238,388 shares of the insurance provider’s stock worth $690,793,000 after buying an additional 1,458,248 shares during the last quarter. Finally, Panagora Asset Management Inc. increased its holdings in shares of Truist Financial by 9,218.0% during the 4th quarter. Panagora Asset Management Inc. now owns 1,205,191 shares of the insurance provider’s stock worth $44,496,000 after buying an additional 1,192,257 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Insider Buying and Selling

In related news, Director K. David Jr. Boyer sold 3,764 shares of Truist Financial stock in a transaction on Thursday, March 7th. The shares were 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 approximately $604,627.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.17% of the stock is owned by company insiders.

Truist Financial Stock Down 1.0 %

Shares of Truist Financial stock traded down $0.39 during trading on Thursday, hitting $38.50. 1,180,870 shares of the stock were exchanged, compared to its average volume of 8,993,431. The stock has a market cap of $51.52 billion, a price-to-earnings ratio of -29.45, a price-to-earnings-growth ratio of 1.97 and a beta of 1.07. The firm’s 50-day moving average price is $38.01 and its 200 day moving average price is $36.19. Truist Financial Co. has a 12-month low of $26.57 and a 12-month high of $40.51. 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 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. The business had revenue of $4.87 billion during the quarter, compared to analysts’ expectations of $5.70 billion. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The company’s revenue for the quarter was down 8.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.09 EPS. As a group, analysts forecast that Truist Financial Co. will post 3.34 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $2.08 annualized dividend and a yield of 5.40%. Truist Financial’s dividend payout ratio is currently -157.58%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TFC. Piper Sandler raised their price target on shares of Truist Financial from $38.00 to $41.00 and gave the stock a “neutral” rating in a report on Tuesday, May 14th. UBS Group increased their price objective on shares of Truist Financial from $45.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. TheStreet cut shares of Truist Financial from a “b-” rating to a “c” rating in a research report on Tuesday, February 20th. Morgan Stanley reaffirmed an “equal weight” rating and set a $43.00 price objective on shares of Truist Financial in a research report on Monday, April 22nd. Finally, Jefferies Financial Group increased their price objective on shares of Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Truist Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.17.

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.