Fifth Third Bancorp Sells 3,130 Shares of Truist Financial Co. (NYSE:TFC)

Fifth Third Bancorp lowered its position in Truist Financial Co. (NYSE:TFC) by 2.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 116,831 shares of the insurance provider’s stock after selling 3,130 shares during the period. Fifth Third Bancorp’s holdings in Truist Financial were worth $4,808,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Hopwood Financial Services Inc. bought a new stake in Truist Financial during the fourth quarter valued at about $26,000. Navigoe LLC bought a new stake in Truist Financial during the fourth quarter valued at about $26,000. Curio Wealth LLC bought a new stake in Truist Financial during the fourth quarter valued at about $45,000. TCTC Holdings LLC grew its holdings in Truist Financial by 28.1% during the fourth quarter. TCTC Holdings LLC now owns 1,310 shares of the insurance provider’s stock valued at $57,000 after purchasing an additional 287 shares during the period. Finally, Pinney & Scofield Inc. bought a new stake in Truist Financial during the fourth quarter valued at about $57,000. Institutional investors own 71.28% of the company’s stock.

Truist Financial Price Performance

NYSE:TFC opened at $38.94 on Friday. 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 $50.99 billion, a P/E ratio of 11.69, a P/E/G ratio of 1.63 and a beta of 0.84. Truist Financial Co. has a 12 month low of $33.56 and a 12 month high of $49.06. The business’s 50-day moving average is $38.77 and its 200 day moving average is $42.42.

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

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 9th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $2.08 dividend on an annualized basis and a yield of 5.34%. Truist Financial’s dividend payout ratio (DPR) is presently 61.36%.

Analyst Ratings Changes

Several research firms have issued reports on TFC. Stephens cut their price target on Truist Financial from $48.00 to $46.00 and set an “overweight” rating for the company in a report on Monday, April 21st. Wells Fargo & Company cut their price target on Truist Financial from $52.00 to $50.00 and set an “overweight” rating for the company in a report on Friday, March 28th. Piper Sandler lowered their price objective on Truist Financial from $45.00 to $41.00 and set a “neutral” rating on the stock in a research report on Monday, April 21st. Barclays dropped their price objective 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. Finally, Citigroup dropped their price objective on Truist Financial from $51.00 to $44.00 and set a “neutral” rating for the company in a research note on Monday, March 24th. Nine equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Truist Financial has an average rating of “Moderate Buy” and a consensus target price of $47.83.

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.