Truist Financial Corporation $TFC Shares Sold by Wealth Alliance LLC

Wealth Alliance LLC trimmed its position in Truist Financial Corporation (NYSE:TFC) by 27.0% in the first quarter, Holdings Channel.com reports. The fund owned 30,039 shares of the insurance provider’s stock after selling 11,115 shares during the period. Wealth Alliance LLC’s holdings in Truist Financial were worth $1,381,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Kemnay Advisory Services Inc. acquired a new stake in shares of Truist Financial during the fourth quarter worth $25,000. Swiss RE Ltd. acquired a new position in shares of Truist Financial in the 4th quarter valued at about $26,000. McMillan Office Inc. bought a new stake in shares of Truist Financial during the 4th quarter valued at about $31,000. Maseco LLP grew its position in shares of Truist Financial by 53.8% during the 4th quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock valued at $32,000 after buying an additional 228 shares during the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC raised its stake in Truist Financial by 190.7% during the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 657 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 431 shares during the period. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Trading Up 1.1%

Shares of TFC stock opened at $51.75 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.86 and a current ratio of 0.86. Truist Financial Corporation has a 1 year low of $40.78 and a 1 year high of $56.19. The stock has a fifty day moving average of $49.81 and a two-hundred day moving average of $49.56. The firm has a market capitalization of $64.48 billion, a PE ratio of 11.87, a price-to-earnings-growth ratio of 0.94 and a beta of 0.89.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Friday, July 17th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.15. Truist Financial had a net margin of 19.13% and a return on equity of 10.06%. The business had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $5.24 billion. During the same period last year, the firm posted $0.91 earnings per share. The business’s revenue was up 5.6% on a year-over-year basis. As a group, research analysts expect that Truist Financial Corporation will post 4.59 EPS for the current year.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 8th were given a $0.52 dividend. The ex-dividend date was Friday, May 8th. This represents a $2.08 annualized dividend and a yield of 4.0%. Truist Financial’s payout ratio is 47.71%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Robert W. Baird raised their price target on Truist Financial from $55.00 to $56.00 and gave the stock a “neutral” rating in a report on Monday, July 20th. Bank of America reaffirmed a “neutral” rating and issued a $56.00 target price (up from $54.00) on shares of Truist Financial in a research report on Wednesday, July 8th. Citigroup cut Truist Financial from a “buy” rating to a “neutral” rating and cut their target price for the company from $63.00 to $54.00 in a research note on Tuesday, June 30th. Raymond James Financial reissued a “market perform” rating on shares of Truist Financial in a report on Wednesday, July 1st. Finally, JPMorgan Chase & Co. restated an “underweight” rating and set a $53.00 price target (down from $53.50) on shares of Truist Financial in a research report on Monday, July 20th. Seven research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $54.61.

About Truist Financial

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.