Israel Discount Bank of New York Cuts Position in Truist Financial Co. (NYSE:TFC)

Israel Discount Bank of New York decreased its position in Truist Financial Co. (NYSE:TFC) by 2.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 14,883 shares of the insurance provider’s stock after selling 321 shares during the period. Israel Discount Bank of New York’s holdings in Truist Financial were worth $549,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of TFC. OFI Invest Asset Management bought a new position in shares of Truist Financial in the third quarter worth $26,000. Operose Advisors LLC bought a new position in shares of Truist Financial in the third quarter worth $31,000. Tyler Stone Wealth Management bought a new position in shares of Truist Financial in the third quarter worth $33,000. Morton Brown Family Wealth LLC increased its holdings in shares of Truist Financial by 236.0% in the fourth quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 649 shares during the period. Finally, Authentikos Wealth Advisory LLC bought a new position in shares of Truist Financial in the third quarter worth $36,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Analyst Ratings Changes

TFC has been the topic of several research analyst reports. Wells Fargo & Company upped their price target on shares of Truist Financial from $39.00 to $45.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. UBS Group increased their target price on Truist Financial from $45.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Piper Sandler increased their target price on Truist Financial from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, January 19th. HSBC increased their target price on Truist Financial from $37.00 to $39.00 and gave the company a “hold” rating in a research note on Thursday, March 28th. Finally, Barclays increased their target price on Truist Financial from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.97.

Insider Buying and Selling

In related news, Director K. David Jr. Boyer sold 3,764 shares of the 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 of the company’s stock, valued at $604,627.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.17% of the stock is currently owned by insiders.

Truist Financial Trading Down 0.1 %

Truist Financial stock traded down $0.04 during trading hours on Monday, hitting $38.13. The company had a trading volume of 3,866,061 shares, compared to its average volume of 9,530,458. The firm has a market cap of $50.89 billion, a P/E ratio of -29.06, a P/E/G ratio of 2.01 and a beta of 1.08. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.82 and a current ratio of 0.82. Truist Financial Co. has a 1 year low of $25.56 and a 1 year high of $39.29. The company has a 50-day moving average price of $36.90 and a two-hundred day moving average price of $34.90.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.78 by $0.12. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The firm had revenue of $4.87 billion during the quarter, compared to analyst estimates of $5.70 billion. During the same quarter in the previous year, the business posted $1.09 EPS. Truist Financial’s revenue was down 8.8% on a year-over-year basis. On average, sell-side analysts anticipate that Truist Financial Co. will post 3.27 earnings per share for the current year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 10th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.46%. Truist Financial’s payout ratio is currently -157.58%.

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.