Truist Financial Corporation $TFC Shares Sold by Ieq Capital LLC

Ieq Capital LLC lessened its stake in shares of Truist Financial Corporation (NYSE:TFC) by 95.3% in the second quarter, HoldingsChannel reports. The firm owned 4,543 shares of the insurance provider’s stock after selling 91,768 shares during the quarter. Ieq Capital LLC’s holdings in Truist Financial were worth $226,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its stake in shares of Truist Financial by 148.5% during the 4th quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider’s stock worth $1,023,000 after purchasing an additional 14,093 shares during the last quarter. Woodline Partners LP raised its position in shares of Truist Financial by 39.5% in the first quarter. Woodline Partners LP now owns 111,177 shares of the insurance provider’s stock valued at $4,575,000 after buying an additional 31,454 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Truist Financial in the second quarter valued at approximately $575,000. AXA S.A. lifted its stake in shares of Truist Financial by 23.1% during the second quarter. AXA S.A. now owns 26,192 shares of the insurance provider’s stock valued at $1,126,000 after buying an additional 4,921 shares during the period. Finally, Main Street Financial Solutions LLC lifted its stake in shares of Truist Financial by 20.1% during the second quarter. Main Street Financial Solutions LLC now owns 6,783 shares of the insurance provider’s stock valued at $292,000 after buying an additional 1,134 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on TFC. Wall Street Zen raised shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Morgan Stanley reissued an “equal weight” rating and set a $54.00 price target (down from $62.00) on shares of Truist Financial in a research note on Monday, July 6th. Keefe, Bruyette & Woods raised their price objective on Truist Financial from $53.00 to $55.00 and gave the stock a “market perform” rating in a report on Monday, July 20th. Weiss Ratings restated a “buy (b)” rating on shares of Truist Financial in a report on Wednesday, July 29th. Finally, Robert W. Baird lifted their price objective on Truist Financial from $55.00 to $56.00 and gave the company a “neutral” rating in a research report on Monday, July 20th. Seven equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $55.12.

Insider Activity

In other news, insider Donta L. Wilson sold 13,280 shares of the company’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $51.85, for a total transaction of $688,568.00. Following the completion of the sale, the insider directly owned 56,009 shares in the company, valued at $2,904,066.65. This represents a 19.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO William H. Rogers, Jr. sold 13,250 shares of the stock in a transaction on Monday, July 20th. The stock was sold at an average price of $52.36, for a total value of $693,770.00. The SEC filing for this sale provides additional information. Insiders sold 30,516 shares of company stock valued at $1,584,428 in the last ninety days. Company insiders own 0.15% of the company’s stock.

Truist Financial Price Performance

TFC opened at $50.46 on Monday. The company’s 50 day simple moving average is $51.47 and its 200 day simple moving average is $49.64. 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 market capitalization of $61.64 billion, a PE ratio of 11.57, a P/E/G ratio of 1.06 and a beta of 0.89.

Truist Financial (NYSE:TFC) last released its earnings results on Friday, July 17th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.15. Truist Financial had a net margin of 19.13% and a return on equity of 10.06%. The firm had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.24 billion. During the same period in the previous year, the firm earned $0.91 earnings per share. Truist Financial’s revenue was up 5.6% compared to the same quarter last year. As a group, sell-side analysts expect that Truist Financial Corporation will post 4.58 EPS for the current year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.08 annualized dividend and a dividend yield of 4.1%. Truist Financial’s payout ratio is currently 47.71%.

Truist Financial Company Profile

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.