Truist Financial Corporation $TFC Stock Holdings Lessened by Cullen Capital Management LLC

Cullen Capital Management LLC lowered its stake in Truist Financial Corporation (NYSE:TFC) by 5.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 4,347,033 shares of the insurance provider’s stock after selling 244,750 shares during the period. Truist Financial accounts for approximately 2.3% of Cullen Capital Management LLC’s holdings, making the stock its 13th biggest position. Cullen Capital Management LLC’s holdings in Truist Financial were worth $213,917,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Swiss RE Ltd. bought a new position in shares of Truist Financial in the fourth quarter valued at $26,000. McMillan Office Inc. acquired a new stake in shares of Truist Financial in the fourth quarter worth $31,000. Maseco LLP boosted its position in shares of Truist Financial by 53.8% in the fourth quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock worth $32,000 after buying an additional 228 shares during the period. Mowery & Schoenfeld Wealth Management LLC boosted its position in shares of Truist Financial by 190.7% in the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 657 shares of the insurance provider’s stock worth $32,000 after buying an additional 431 shares during the period. Finally, Ancora Advisors LLC boosted its position in shares of Truist Financial by 259.1% in the third quarter. Ancora Advisors LLC now owns 693 shares of the insurance provider’s stock worth $32,000 after buying an additional 500 shares during the period. Institutional investors own 71.28% of the company’s stock.

Truist Financial Trading Up 1.9%

Truist Financial stock opened at $51.63 on Friday. The company’s fifty day simple moving average is $49.10 and its 200-day simple moving average is $49.16. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70. Truist Financial Corporation has a 12 month low of $38.83 and a 12 month high of $56.19. The stock has a market cap of $64.33 billion, a P/E ratio of 12.81, a P/E/G ratio of 0.87 and a beta of 0.89.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Friday, April 17th. The insurance provider reported $1.09 EPS for the quarter, beating the consensus estimate of $1.00 by $0.09. Truist Financial had a net margin of 18.14% and a return on equity of 9.55%. The business had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.18 billion. During the same period in the previous year, the company posted $0.87 EPS. Truist Financial’s revenue was up 5.0% on a year-over-year basis. As a group, sell-side analysts forecast that Truist Financial Corporation will post 4.52 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 8th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Friday, May 8th. Truist Financial’s payout ratio is currently 51.61%.

Wall Street Analyst Weigh In

TFC has been the subject of several recent analyst reports. Robert W. Baird cut Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 target price for the company. in a research report on Friday, May 1st. Royal Bank Of Canada raised their target price on Truist Financial from $51.00 to $53.00 and gave the stock an “outperform” rating in a research report on Monday, April 20th. JPMorgan Chase & Co. decreased their target price on Truist Financial from $57.00 to $51.50 and set a “neutral” rating for the company in a research report on Tuesday, April 7th. Weiss Ratings raised Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. Finally, Wall Street Zen cut Truist Financial from a “hold” rating to a “sell” rating in a research report on Saturday. Nine analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $55.59.

About Truist Financial

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.