Deutsche Bank AG trimmed its position in Truist Financial Co. (NYSE:TFC – Free Report) by 21.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,025,584 shares of the insurance provider’s stock after selling 850,593 shares during the quarter. Deutsche Bank AG owned about 0.23% of Truist Financial worth $86,562,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. State Street Corp increased its stake in Truist Financial by 1.8% during the second quarter. State Street Corp now owns 59,824,259 shares of the insurance provider’s stock worth $1,815,666,000 after acquiring an additional 1,056,703 shares during the last quarter. Geode Capital Management LLC increased its stake in Truist Financial by 2.2% during the second quarter. Geode Capital Management LLC now owns 24,458,354 shares of the insurance provider’s stock worth $740,544,000 after acquiring an additional 526,889 shares during the last quarter. Moneta Group Investment Advisors LLC increased its stake in Truist Financial by 12,034.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 20,490,356 shares of the insurance provider’s stock worth $881,700,000 after acquiring an additional 20,321,500 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Truist Financial by 3.3% during the second quarter. Charles Schwab Investment Management Inc. now owns 17,771,573 shares of the insurance provider’s stock worth $523,570,000 after acquiring an additional 575,930 shares during the last quarter. Finally, Morgan Stanley increased its stake in Truist Financial by 32.6% during the fourth quarter. Morgan Stanley now owns 15,511,098 shares of the insurance provider’s stock worth $667,443,000 after acquiring an additional 3,813,439 shares during the last quarter. 71.11% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several brokerages have weighed in on TFC. Keefe, Bruyette & Woods boosted their price objective on Truist Financial from $42.00 to $44.00 and gave the stock an “outperform” rating in a research note on Friday, January 19th. Evercore ISI boosted their target price on Truist Financial from $31.00 to $33.00 and gave the company an “in-line” rating in a research report on Monday, November 20th. StockNews.com lowered Truist Financial from a “hold” rating to a “sell” rating in a report on Tuesday. Barclays upped their target price on Truist Financial from $40.00 to $42.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 2nd. Finally, Royal Bank of Canada raised their price target on Truist Financial from $40.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Truist Financial presently has an average rating of “Hold” and an average price target of $39.14.
Get Our Latest Analysis on TFC
Truist Financial Stock Performance
NYSE TFC opened at $35.03 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.74. The company has a 50 day moving average price of $36.45 and a 200 day moving average price of $32.98. Truist Financial Co. has a 52 week low of $25.56 and a 52 week high of $38.47.
Truist Financial (NYSE:TFC – Get Free Report) last issued its quarterly earnings results on Thursday, January 18th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.13. Truist Financial had a negative net margin of 3.28% and a positive return on equity of 9.64%. The business had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.70 billion. During the same quarter in the prior year, the business posted $1.30 EPS. Equities research analysts predict that Truist Financial Co. will post 3.35 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. Shareholders of record on Friday, February 9th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $2.08 dividend on an annualized basis and a yield of 5.94%. Truist Financial’s payout ratio is -192.59%.
Insider Buying and Selling at Truist Financial
In other Truist Financial 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 transaction of $141,074.72. Following the transaction, the director now 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 at the SEC website. 0.31% of the stock is currently owned by company insiders.
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.
Further Reading
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Source: defenseworld.net
