International Assets Investment Management LLC Decreases Position in Truist Financial Corporation (NYSE:TFC)

International Assets Investment Management LLC decreased its position in shares of Truist Financial Corporation (NYSE:TFC) by 8.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,043 shares of the insurance provider’s stock after selling 2,278 shares during the quarter. International Assets Investment Management LLC’s holdings in Truist Financial were worth $1,031,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Hopwood Financial Services Inc. bought a new position in Truist Financial in the 4th quarter valued at approximately $26,000. Navigoe LLC bought a new position in shares of Truist Financial during the fourth quarter valued at $26,000. Curio Wealth LLC bought a new position in shares of Truist Financial during the fourth quarter valued at $45,000. TCTC Holdings LLC boosted its position in shares of 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 buying an additional 287 shares during the last quarter. Finally, Pinney & Scofield Inc. bought a new stake in Truist Financial in the 4th quarter worth about $57,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on TFC. Wells Fargo & Company lowered their target price on shares of Truist Financial from $52.00 to $50.00 and set an “overweight” rating on the stock in a research note on Friday, March 28th. JPMorgan Chase & Co. decreased their price objective on shares of Truist Financial from $48.00 to $42.00 and set a “neutral” rating for the company in a report on Thursday, April 3rd. Stephens dropped their target price on shares of Truist Financial from $48.00 to $46.00 and set an “overweight” rating on the stock in a report on Monday, April 21st. Keefe, Bruyette & Woods cut their target price on shares of Truist Financial from $53.00 to $47.00 and set an “outperform” rating for the company in a research report on Monday, April 21st. Finally, Wall Street Zen raised Truist Financial from a “sell” rating to a “hold” rating in a report on Wednesday, May 7th. Nine analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s 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 Trading Up 1.1%

Shares of Truist Financial stock opened at $41.50 on Wednesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.83 and a current ratio of 0.83. The company has a fifty day moving average of $39.29 and a 200 day moving average of $42.04. The company has a market capitalization of $54.34 billion, a P/E ratio of 12.24, a P/E/G ratio of 1.52 and a beta of 0.84. Truist Financial Corporation has a fifty-two week low of $33.56 and a fifty-two week high of $49.06.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.87. The firm had revenue of $4.95 billion during the quarter, compared to analyst estimates of $4.99 billion. Truist Financial had a return on equity of 8.96% and a net margin of 15.59%. During the same quarter in the prior year, the company posted $0.90 earnings per share. On average, sell-side analysts anticipate that Truist Financial Corporation 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 issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 5.01%. The ex-dividend date of this dividend was Friday, May 9th. 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.