Truist Financial Corporation $TFC Shares Sold by Yousif Capital Management LLC

Yousif Capital Management LLC reduced its stake in shares of Truist Financial Corporation (NYSE:TFC) by 6.2% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 157,225 shares of the insurance provider’s stock after selling 10,396 shares during the period. Yousif Capital Management LLC’s holdings in Truist Financial were worth $7,726,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of TFC. Wellington Management Group LLP boosted its stake in shares of Truist Financial by 13,511.7% during the 3rd quarter. Wellington Management Group LLP now owns 10,386,831 shares of the insurance provider’s stock worth $474,886,000 after acquiring an additional 10,310,523 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of Truist Financial by 203.1% during the 3rd quarter. Jennison Associates LLC now owns 3,918,994 shares of the insurance provider’s stock worth $179,176,000 after acquiring an additional 2,625,847 shares in the last quarter. Azora Capital LP purchased a new stake in shares of Truist Financial during the 3rd quarter worth about $115,417,000. Skandinaviska Enskilda Banken AB publ boosted its stake in shares of Truist Financial by 164.0% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 2,308,054 shares of the insurance provider’s stock worth $105,490,000 after acquiring an additional 1,433,934 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in shares of Truist Financial by 71.9% during the 2nd quarter. AQR Capital Management LLC now owns 3,165,033 shares of the insurance provider’s stock worth $136,065,000 after acquiring an additional 1,323,866 shares in the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on TFC shares. Citigroup increased their target price on shares of Truist Financial from $60.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, December 31st. JPMorgan Chase & Co. lowered their target price on shares of Truist Financial from $57.00 to $51.50 and set a “neutral” rating on the stock in a research note on Tuesday. Barclays lowered shares of Truist Financial from an “equal weight” rating to an “underweight” rating and raised their price target for the company from $47.00 to $56.00 in a research note on Monday, January 5th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $58.00 price target on shares of Truist Financial in a research note on Tuesday, January 6th. Finally, Robert W. Baird raised shares of Truist Financial from a “neutral” rating to an “outperform” rating and set a $52.00 price target on the stock in a research note on Monday, March 9th. Nine investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $54.41.

Truist Financial Trading Up 3.2%

Shares of Truist Financial stock opened at $49.35 on Thursday. The firm has a market capitalization of $61.24 billion, a PE ratio of 12.95, a P/E/G ratio of 0.80 and a beta of 0.89. Truist Financial Corporation has a twelve month low of $33.82 and a twelve month high of $56.19. The firm’s 50-day moving average price is $48.96 and its 200 day moving average price is $47.66. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Wednesday, January 21st. The insurance provider reported $1.00 EPS for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.09). The business had revenue of $4.93 billion during the quarter, compared to analyst estimates of $5.32 billion. Truist Financial had a net margin of 17.09% and a return on equity of 9.03%. The firm’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.91 EPS. On average, sell-side analysts predict that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Friday, February 13th were issued a $0.52 dividend. The ex-dividend date was Friday, February 13th. This represents a $2.08 dividend on an annualized basis and a yield of 4.2%. Truist Financial’s dividend payout ratio is presently 54.59%.

Truist Financial announced that its Board of Directors has initiated a share buyback program on Tuesday, December 16th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the insurance provider to reacquire up to 15.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Truist Financial

In other Truist Financial news, CFO Michael Baron Maguire sold 13,000 shares of the stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $50.13, for a total value of $651,690.00. Following the completion of the sale, the chief financial officer owned 74,323 shares in the company, valued at approximately $3,725,811.99. This represents a 14.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Cynthia B. Powell sold 3,500 shares of the stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $52.49, for a total transaction of $183,715.00. Following the completion of the sale, the chief accounting officer owned 667 shares of the company’s stock, valued at approximately $35,010.83. The trade was a 83.99% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.15% of the stock is currently owned by corporate insiders.

Truist Financial Company Profile

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.