Intrust Bank NA Sells 440 Shares of Truist Financial Co. (NYSE:TFC)

Intrust Bank NA cut its holdings in shares of Truist Financial Co. (NYSE:TFC) by 3.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,647 shares of the insurance provider’s stock after selling 440 shares during the period. Intrust Bank NA’s holdings in Truist Financial were worth $467,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Bleakley Financial Group LLC grew its holdings in Truist Financial by 6.1% during the 4th quarter. Bleakley Financial Group LLC now owns 29,890 shares of the insurance provider’s stock worth $1,104,000 after acquiring an additional 1,731 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in Truist Financial by 53.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 338,972 shares of the insurance provider’s stock valued at $12,515,000 after buying an additional 117,524 shares during the period. International Assets Investment Management LLC grew its position in shares of Truist Financial by 3,359.6% during the 4th quarter. International Assets Investment Management LLC now owns 1,045,560 shares of the insurance provider’s stock worth $38,602,000 after buying an additional 1,015,338 shares during the period. Loudon Investment Management LLC raised its position in shares of Truist Financial by 18.5% in the 3rd quarter. Loudon Investment Management LLC now owns 131,398 shares of the insurance provider’s stock valued at $3,759,000 after acquiring an additional 20,490 shares during the period. Finally, Pathstone Family Office LLC boosted its stake in Truist Financial by 84.8% during the 3rd quarter. Pathstone Family Office LLC now owns 97,317 shares of the insurance provider’s stock worth $2,786,000 after acquiring an additional 44,659 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Truist Financial Trading Down 2.0 %

TFC stock opened at $37.55 on Wednesday. Truist Financial Co. has a 52 week low of $25.56 and a 52 week high of $39.29. The company has a market capitalization of $50.11 billion, a PE ratio of -28.45, a price-to-earnings-growth ratio of 2.02 and a beta of 1.08. The company’s 50-day simple moving average is $36.98 and its 200 day simple moving average is $35.03. 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 (NYSE:TFC) last released its earnings results on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.78 by $0.12. The firm had revenue of $4.87 billion for the quarter, compared to analyst estimates of $5.70 billion. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The business’s quarterly revenue was down 8.8% compared to the same quarter last year. During the same period last year, the firm earned $1.09 EPS. As a group, sell-side analysts anticipate that Truist Financial Co. will post 3.27 earnings per share for the current year.

Truist Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 10th will be issued a dividend of $0.52 per share. The ex-dividend date is Thursday, May 9th. This represents a $2.08 annualized dividend and a yield of 5.54%. Truist Financial’s payout ratio is -157.58%.

Insider Transactions at Truist Financial

In other 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 completion of the sale, the director now directly owns 16,132 shares in the company, valued at $604,627.36. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on TFC shares. Bank of America raised Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 target price for the company in a research note on Thursday, January 4th. UBS Group boosted their price target on Truist Financial from $45.00 to $49.00 and gave the company a “buy” rating in a report on Friday, April 5th. Jefferies Financial Group upped their price target on Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. Citigroup boosted their price objective on shares of Truist Financial from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Finally, HSBC increased their price target on Truist Financial from $37.00 to $39.00 and gave the company a “hold” rating in a research report on Thursday, March 28th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.97.

Truist Financial Company 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.