Truist Financial Corporation (NYSE:TFC) Shares Sold by World Investment Advisors

World Investment Advisors trimmed its holdings in Truist Financial Corporation (NYSE:TFC) by 4.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,586 shares of the insurance provider’s stock after selling 1,105 shares during the period. World Investment Advisors’ holdings in Truist Financial were worth $971,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC raised its position in shares of Truist Financial by 148.5% during the 4th quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider’s stock valued at $1,023,000 after acquiring an additional 14,093 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Truist Financial by 49.9% during the 4th quarter. Victory Capital Management Inc. now owns 651,503 shares of the insurance provider’s stock valued at $28,262,000 after acquiring an additional 216,956 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Truist Financial during the 4th quarter valued at approximately $5,452,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Truist Financial during the 4th quarter valued at approximately $247,000. Finally, Banco Santander S.A. raised its position in shares of Truist Financial by 83.6% during the 4th quarter. Banco Santander S.A. now owns 10,233 shares of the insurance provider’s stock valued at $444,000 after acquiring an additional 4,659 shares in the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Stock Performance

Shares of TFC opened at $45.45 on Wednesday. The firm has a 50-day moving average price of $40.71 and a 200 day moving average price of $41.97. The firm has a market capitalization of $59.52 billion, a PE ratio of 13.41, a P/E/G ratio of 1.68 and a beta of 0.85. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.55. Truist Financial Corporation has a 52-week low of $33.56 and a 52-week high of $49.06.

Truist Financial (NYSE:TFC) last announced 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 firm had revenue of $4.95 billion during the quarter, compared to analyst estimates of $4.99 billion. Truist Financial had a net margin of 15.59% and a return on equity of 8.96%. During the same quarter in the prior year, the firm posted $0.90 EPS. 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 announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 9th were given a $0.52 dividend. 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 4.58%. Truist Financial’s dividend payout ratio is presently 61.36%.

Analyst Ratings Changes

Several research firms recently issued reports on TFC. Piper Sandler dropped their price target 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. Keefe, Bruyette & Woods lowered their price objective on Truist Financial from $53.00 to $47.00 and set an “outperform” rating for the company in a research note on Monday, April 21st. Barclays lowered 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. Raymond James Financial upgraded Truist Financial from a “market perform” rating to an “outperform” rating and set a $50.00 price objective for the company in a research note on Tuesday. Finally, Stephens lowered their price objective on Truist Financial from $48.00 to $46.00 and set an “overweight” rating for the company in a research note on Monday, April 21st. Seven equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $48.39.

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.