Equitable Trust Co. Reduces Stock Holdings in Truist Financial Corporation $TFC

Equitable Trust Co. trimmed its position in shares of Truist Financial Corporation (NYSE:TFC) by 17.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 95,575 shares of the insurance provider’s stock after selling 20,789 shares during the period. Equitable Trust Co.’s holdings in Truist Financial were worth $4,394,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. 3Chopt Investment Partners LLC lifted its position in shares of Truist Financial by 1.3% during the 4th quarter. 3Chopt Investment Partners LLC now owns 14,713 shares of the insurance provider’s stock valued at $724,000 after buying an additional 193 shares during the last quarter. IFP Advisors Inc increased its holdings in Truist Financial by 2.4% in the 4th quarter. IFP Advisors Inc now owns 8,205 shares of the insurance provider’s stock worth $404,000 after acquiring an additional 194 shares during the last quarter. PCB Capital LLC increased its holdings in Truist Financial by 3.0% in the 1st quarter. PCB Capital LLC now owns 6,744 shares of the insurance provider’s stock worth $310,000 after acquiring an additional 198 shares during the last quarter. AlphaCore Capital LLC raised its stake in Truist Financial by 8.3% in the 4th quarter. AlphaCore Capital LLC now owns 2,609 shares of the insurance provider’s stock valued at $128,000 after acquiring an additional 199 shares during the period. Finally, CYBER HORNET ETFs LLC raised its stake in Truist Financial by 5.5% in the 4th quarter. CYBER HORNET ETFs LLC now owns 3,820 shares of the insurance provider’s stock valued at $188,000 after acquiring an additional 199 shares during the period. 71.28% of the stock is owned by hedge funds and other institutional investors.

Truist Financial Stock Up 3.2%

TFC stock opened at $51.29 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $63.90 billion, a PE ratio of 12.73, a PEG ratio of 0.87 and a beta of 0.89. Truist Financial Corporation has a twelve month low of $40.78 and a twelve month high of $56.19. The stock has a 50-day simple moving average of $49.16 and a two-hundred day simple moving average of $49.42.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Friday, April 17th. The insurance provider reported $1.09 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.18 billion. During the same period in the prior year, the firm posted $0.87 earnings per share. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, equities analysts predict that Truist Financial Corporation will post 4.51 EPS for the current fiscal year.

Truist Financial Dividend Announcement

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

Analyst Upgrades and Downgrades

TFC has been the subject of a number of research reports. 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. Raymond James Financial reissued a “market perform” rating on shares of Truist Financial in a research report on Wednesday, July 1st. Wall Street Zen cut shares of Truist Financial from a “hold” rating to a “sell” rating in a research note on Monday, June 29th. Robert W. Baird downgraded shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 price objective for the company. in a report on Friday, May 1st. Finally, Evercore reiterated an “outperform” rating and issued a $57.00 price objective on shares of Truist Financial in a research note on Monday. Seven research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $54.47.

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.