Twinbeech Capital LP Trims Holdings in Truist Financial Co. (NYSE:TFC)

Twinbeech Capital LP decreased its position in shares of Truist Financial Co. (NYSE:TFC) by 13.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 732,271 shares of the insurance provider’s stock after selling 114,892 shares during the period. Twinbeech Capital LP owned about 0.06% of Truist Financial worth $31,766,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in TFC. PBMares Wealth Management LLC boosted its position in shares of Truist Financial by 0.8% in the 4th quarter. PBMares Wealth Management LLC now owns 29,270 shares of the insurance provider’s stock worth $1,270,000 after purchasing an additional 224 shares in the last quarter. Koshinski Asset Management Inc. lifted its holdings in shares of Truist Financial by 2.1% during the 4th quarter. Koshinski Asset Management Inc. now owns 10,825 shares of the insurance provider’s stock valued at $470,000 after buying an additional 225 shares during the period. Aaron Wealth Advisors LLC increased its stake in shares of Truist Financial by 3.0% in the 4th quarter. Aaron Wealth Advisors LLC now owns 7,712 shares of the insurance provider’s stock worth $335,000 after purchasing an additional 227 shares in the last quarter. FWG Holdings LLC increased its stake in shares of Truist Financial by 4.3% in the 4th quarter. FWG Holdings LLC now owns 5,694 shares of the insurance provider’s stock worth $267,000 after purchasing an additional 234 shares in the last quarter. Finally, Avestar Capital LLC increased its stake in shares of Truist Financial by 4.1% in the 4th quarter. Avestar Capital LLC now owns 6,299 shares of the insurance provider’s stock worth $273,000 after purchasing an additional 250 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Barclays cut their price target on Truist Financial from $51.00 to $47.00 and set an “equal weight” rating for the company in a research note on Monday, April 21st. Stephens decreased their price objective on shares of Truist Financial from $48.00 to $46.00 and set an “overweight” rating for the company in a research note on Monday, April 21st. Keefe, Bruyette & Woods decreased their price objective on shares of Truist Financial from $53.00 to $47.00 and set an “outperform” rating for the company in a research note on Monday, April 21st. Robert W. Baird raised shares of Truist Financial from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $48.00 to $52.00 in a research note on Wednesday, March 5th. Finally, Raymond James downgraded shares of Truist Financial from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 2nd. Nine equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Truist Financial has a consensus rating of “Moderate Buy” and a consensus price target of $47.83.

Truist Financial Trading Up 0.6%

NYSE:TFC opened at $41.41 on Monday. Truist Financial Co. has a 12 month low of $33.56 and a 12 month high of $49.06. The firm has a fifty day simple moving average of $38.82 and a 200-day simple moving average of $43.23. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $54.23 billion, a P/E ratio of 12.43, a PEG ratio of 1.63 and a beta of 0.83.

Truist Financial (NYSE:TFC) last posted its earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.87. The company had revenue of $4.95 billion during the quarter, compared to the consensus estimate of $4.99 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. During the same period in the previous year, the firm posted $0.90 earnings per share. On average, equities research analysts anticipate that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Friday, May 9th will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.02%. Truist Financial’s dividend payout ratio (DPR) is currently 61.36%.

Truist Financial 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.