Bailard Inc. Trims Position in Truist Financial Co. (NYSE:TFC)

Bailard Inc. trimmed its position in Truist Financial Co. (NYSE:TFC) by 2.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 46,832 shares of the insurance provider’s stock after selling 1,251 shares during the period. Bailard Inc.’s holdings in Truist Financial were worth $1,729,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Community Bank N.A. increased its position in Truist Financial by 4.1% during the fourth quarter. Community Bank N.A. now owns 94,705 shares of the insurance provider’s stock valued at $3,496,000 after acquiring an additional 3,758 shares during the last quarter. GAMMA Investing LLC bought a new position in Truist Financial during the fourth quarter valued at approximately $272,000. Linden Thomas Advisory Services LLC boosted its stake in Truist Financial by 3.1% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 25,620 shares of the insurance provider’s stock valued at $946,000 after buying an additional 761 shares during the last quarter. Community Bank & Trust Waco Texas lifted its stake in shares of Truist Financial by 7.5% in the 4th quarter. Community Bank & Trust Waco Texas now owns 6,729 shares of the insurance provider’s stock valued at $248,000 after purchasing an additional 467 shares during the last quarter. Finally, Parkside Financial Bank & Trust lifted its stake in shares of Truist Financial by 27.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 7,863 shares of the insurance provider’s stock valued at $290,000 after purchasing an additional 1,690 shares during the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

Truist Financial Stock Up 0.7 %

NYSE:TFC traded up $0.27 on Friday, reaching $38.24. The stock had a trading volume of 1,002,387 shares, compared to its average volume of 9,556,345. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.75. The company has a 50-day moving average of $36.86 and a 200 day moving average of $34.75. The stock has a market cap of $51.03 billion, a P/E ratio of -29.19, a price-to-earnings-growth ratio of 2.04 and a beta of 1.08. Truist Financial Co. has a 12-month low of $25.56 and a 12-month high of $39.29.

Truist Financial (NYSE:TFC) last issued its earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.12. The business had revenue of $4.87 billion for the quarter, compared to analyst estimates of $5.70 billion. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The company’s revenue for the quarter was down 8.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.09 EPS. On average, research analysts predict that Truist Financial Co. will post 3.27 earnings per share for the current year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 10th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 5.44%. The ex-dividend date of this dividend is Thursday, May 9th. Truist Financial’s payout ratio is -157.58%.

Insider Buying and Selling

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $37.48, for a total value of $141,074.72. Following the completion of the sale, the director now owns 16,132 shares in the company, valued at approximately $604,627.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.17% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

TFC has been the subject of a number of research analyst reports. UBS Group raised their price target on Truist Financial from $45.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Stephens reiterated an “overweight” rating and issued a $43.00 price target on shares of Truist Financial in a report on Tuesday. Jefferies Financial Group raised their price objective on Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. Compass Point raised Truist Financial from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $34.00 to $42.00 in a research report on Tuesday. Finally, Barclays lifted their price target on Truist Financial from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $41.97.

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.