Amalgamated Bank Sells 10,334 Shares of Truist Financial Co. (NYSE:TFC)

Amalgamated Bank cut its stake in Truist Financial Co. (NYSE:TFC) by 3.1% during the fourth quarter, HoldingsChannel reports. The firm owned 326,070 shares of the insurance provider’s stock after selling 10,334 shares during the period. Amalgamated Bank’s holdings in Truist Financial were worth $12,039,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TFC. Morton Brown Family Wealth LLC increased its position in shares of Truist Financial by 236.0% during the fourth quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 649 shares during the period. OFI Invest Asset Management purchased a new position in Truist Financial in the third quarter valued at about $26,000. Criterion Capital Advisors LLC bought a new position in Truist Financial in the fourth quarter worth about $38,000. Operose Advisors LLC purchased a new stake in shares of Truist Financial during the third quarter valued at about $31,000. Finally, Tyler Stone Wealth Management bought a new stake in shares of Truist Financial in the 3rd quarter valued at about $33,000. Institutional investors own 71.28% of the company’s stock.

Analysts Set New Price Targets

TFC has been the subject of a number of analyst reports. StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Thursday. Compass Point upgraded Truist Financial from a “neutral” rating to a “buy” rating and increased their price objective for the company from $34.00 to $42.00 in a report on Tuesday, April 23rd. UBS Group raised their price objective on Truist Financial from $45.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. JPMorgan Chase & Co. increased their price target on Truist Financial from $39.50 to $40.50 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Jefferies Financial Group raised their price target on Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a report on Monday, April 8th. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Truist Financial has an average rating of “Moderate Buy” and a consensus price target of $41.88.

Truist Financial Stock Performance

NYSE TFC traded up $0.50 on Friday, hitting $38.85. 8,081,419 shares of the company’s stock traded hands, compared to its average volume of 8,655,990. The firm’s 50-day moving average price is $37.08 and its two-hundred day moving average price is $35.07. The firm has a market capitalization of $51.85 billion, a PE ratio of -29.43, a P/E/G ratio of 2.01 and a beta of 1.07. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.75. Truist Financial Co. has a 1-year low of $25.56 and a 1-year high of $39.29.

Truist Financial (NYSE:TFC) last posted its earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.12. The company had revenue of $4.87 billion during the quarter, compared to the consensus estimate of $5.70 billion. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The firm’s quarterly revenue was down 8.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.09 earnings per share. As a group, analysts expect that Truist Financial Co. will post 3.3 EPS for the current year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 10th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 5.35%. The ex-dividend date of this dividend is Thursday, May 9th. Truist Financial’s dividend payout ratio (DPR) is -157.58%.

Insider Activity 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 stock was sold at an average price of $37.48, for a total value of $141,074.72. Following the sale, the director now owns 16,132 shares in the company, valued at approximately $604,627.36. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.17% of the stock is owned by company insiders.

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.