Y Intercept Hong Kong Ltd Sells 135,695 Shares of Truist Financial Corporation $TFC

Y Intercept Hong Kong Ltd trimmed its stake in shares of Truist Financial Corporation (NYSE:TFC) by 40.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 203,010 shares of the insurance provider’s stock after selling 135,695 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Truist Financial were worth $9,332,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in Truist Financial by 148.5% in the 4th quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider’s stock worth $1,023,000 after acquiring an additional 14,093 shares during the last quarter. Woodline Partners LP boosted its position in shares of Truist Financial by 39.5% during the 1st quarter. Woodline Partners LP now owns 111,177 shares of the insurance provider’s stock valued at $4,575,000 after acquiring an additional 31,454 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in shares of Truist Financial in the second quarter valued at $575,000. AXA S.A. grew its holdings in shares of Truist Financial by 23.1% in the second quarter. AXA S.A. now owns 26,192 shares of the insurance provider’s stock valued at $1,126,000 after purchasing an additional 4,921 shares in the last quarter. Finally, Main Street Financial Solutions LLC increased its position in Truist Financial by 20.1% in the second quarter. Main Street Financial Solutions LLC now owns 6,783 shares of the insurance provider’s stock worth $292,000 after purchasing an additional 1,134 shares during the last quarter. 71.28% of the stock is owned by institutional investors.

Truist Financial Stock Performance

NYSE:TFC opened at $50.95 on Friday. The firm has a market capitalization of $63.47 billion, a PE ratio of 12.64, a PEG ratio of 0.87 and a beta of 0.89. The stock’s fifty day moving average is $49.17 and its 200 day moving average is $49.40. Truist Financial Corporation has a fifty-two week low of $40.78 and a fifty-two week high of $56.19. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.86 and a current ratio of 0.86.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Friday, April 17th. The insurance provider reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates 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 quarter in the previous year, the business posted $0.87 earnings per share. The business’s revenue was up 5.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Truist Financial Corporation will post 4.52 earnings per share for the current year.

Truist Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 8th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.1%. Truist Financial’s payout ratio is currently 51.61%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Weiss Ratings upgraded shares of Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. Robert W. Baird cut shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 target price on the stock. in a research report on Friday, May 1st. Citigroup downgraded shares of Truist Financial from a “buy” rating to a “neutral” rating and lowered their price target for the company from $63.00 to $54.00 in a report on Tuesday. Royal Bank Of Canada increased their price target on shares of Truist Financial from $51.00 to $53.00 and gave the company an “outperform” rating in a report on Monday, April 20th. Finally, Raymond James Financial reiterated a “market perform” rating on shares of Truist Financial in a research report on Wednesday. Eight analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $55.26.

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.