EJF Capital LLC Sells 29,349 Shares of Truist Financial Corporation $TFC

EJF Capital LLC reduced its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 39.5% in the second quarter, Holdings Channel.com reports. The fund owned 44,901 shares of the insurance provider’s stock after selling 29,349 shares during the quarter. EJF Capital LLC’s holdings in Truist Financial were worth $1,930,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Wealth Preservation Advisors LLC purchased a new stake in shares of Truist Financial during the first quarter valued at $25,000. Aspect Partners LLC lifted its holdings in Truist Financial by 71.5% during the 2nd quarter. Aspect Partners LLC now owns 643 shares of the insurance provider’s stock valued at $28,000 after buying an additional 268 shares in the last quarter. Princeton Global Asset Management LLC purchased a new stake in Truist Financial in the 2nd quarter valued at about $30,000. Ramirez Asset Management Inc. grew its stake in Truist Financial by 60.0% in the 2nd quarter. Ramirez Asset Management Inc. now owns 800 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 300 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC bought a new position in Truist Financial in the 2nd quarter worth about $36,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Insider Activity

In other news, Director K. David Jr. Boyer sold 5,160 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $46.45, for a total value of $239,682.00. Following the completion of the transaction, the director directly owned 10,153 shares in the company, valued at $471,606.85. This trade represents a 33.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.17% of the stock is currently owned by insiders.

Truist Financial Trading Up 0.4%

Shares of Truist Financial stock opened at $49.89 on Friday. The firm’s 50 day simple moving average is $45.12 and its two-hundred day simple moving average is $44.29. The firm has a market capitalization of $63.82 billion, a price-to-earnings ratio of 13.41, a PEG ratio of 1.08 and a beta of 0.90. Truist Financial Corporation has a 12-month low of $33.56 and a 12-month high of $50.26. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Friday, October 17th. The insurance provider reported $1.04 EPS for the quarter, topping the consensus estimate of $0.99 by $0.05. Truist Financial had a net margin of 16.84% and a return on equity of 8.73%. The business had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.20 billion. During the same period in the previous year, the firm posted $0.97 earnings per share. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. Analysts predict that Truist Financial Corporation will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Friday, November 14th were issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.2%. Truist Financial’s dividend payout ratio is currently 55.91%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TFC. Robert W. Baird restated a “neutral” rating and set a $52.00 price target on shares of Truist Financial in a research note on Thursday. Evercore ISI upped their price target on shares of Truist Financial from $48.00 to $50.00 and gave the stock an “in-line” rating in a research report on Tuesday, September 30th. Keefe, Bruyette & Woods boosted their price target on Truist Financial from $48.00 to $49.00 and gave the stock a “market perform” rating in a research report on Monday, October 20th. TD Cowen upgraded Truist Financial from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research note on Tuesday, October 21st. Finally, Piper Sandler set a $48.00 price target on Truist Financial in a research report on Monday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $49.60.

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.