Mizuho Securities USA LLC Sells 20,452 Shares of Truist Financial Corporation (NYSE:TFC)

Mizuho Securities USA LLC lowered its holdings in shares of Truist Financial Corporation (NYSE:TFCFree Report) by 16.3% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 105,367 shares of the insurance provider’s stock after selling 20,452 shares during the period. Mizuho Securities USA LLC’s holdings in Truist Financial were worth $4,336,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of TFC. Capital International Investors grew its holdings in Truist Financial by 26.0% during the fourth quarter. Capital International Investors now owns 90,617,519 shares of the insurance provider’s stock worth $3,930,983,000 after purchasing an additional 18,712,246 shares during the period. Victory Capital Management Inc. grew its holdings in Truist Financial by 922.9% during the first quarter. Victory Capital Management Inc. now owns 6,664,320 shares of the insurance provider’s stock worth $274,237,000 after purchasing an additional 6,012,817 shares during the period. Northern Trust Corp grew its holdings in Truist Financial by 20.5% during the fourth quarter. Northern Trust Corp now owns 14,434,173 shares of the insurance provider’s stock worth $626,154,000 after purchasing an additional 2,452,239 shares during the period. Assenagon Asset Management S.A. grew its holdings in Truist Financial by 610.8% during the first quarter. Assenagon Asset Management S.A. now owns 2,661,895 shares of the insurance provider’s stock worth $109,537,000 after purchasing an additional 2,287,410 shares during the period. Finally, Azora Capital LP bought a new position in Truist Financial during the fourth quarter worth about $90,247,000. Institutional investors own 71.28% of the company’s stock.

Insider Buying and Selling

In other Truist Financial news, insider Bradley D. Bender sold 12,540 shares of the business’s stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $45.19, for a total transaction of $566,682.60. Following the completion of the transaction, the insider directly owned 500 shares in the company, valued at $22,595. The trade was a 96.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.17% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently commented on TFC. Keefe, Bruyette & Woods cut Truist Financial from an “outperform” rating to a “market perform” rating and set a $48.00 price target for the company. in a report on Wednesday, July 9th. Stephens reduced their price objective on Truist Financial from $48.00 to $46.00 and set an “overweight” rating for the company in a report on Monday, April 21st. Barclays reduced their price objective on Truist Financial from $51.00 to $47.00 and set an “equal weight” rating for the company in a report 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 report on Tuesday, July 8th. Finally, Argus set a $43.00 price objective on Truist Financial in a report on Monday, April 21st. Six equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $48.65.

View Our Latest Research Report on TFC

Truist Financial Stock Up 0.5%

NYSE TFC opened at $43.08 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.75. Truist Financial Corporation has a 1-year low of $33.56 and a 1-year high of $49.06. The company has a 50 day moving average of $42.86 and a 200-day moving average of $41.98. The company has a market cap of $55.55 billion, a price-to-earnings ratio of 11.74, a PEG ratio of 1.61 and a beta of 0.87.

Truist Financial (NYSE:TFCGet Free Report) last announced its quarterly earnings data on Friday, July 18th. The insurance provider reported $0.91 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.02). Truist Financial had a net margin of 16.82% and a return on equity of 8.69%. The firm had revenue of $5.04 billion for the quarter, compared to analyst estimates of $5.04 billion. During the same quarter in the prior year, the firm earned $0.91 earnings per share. The firm’s revenue for the quarter was down 406.0% on a year-over-year basis. On average, equities research analysts expect that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, August 8th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.8%. The ex-dividend date is Friday, August 8th. Truist Financial’s payout ratio is currently 56.68%.

About Truist Financial

(Free Report)

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.

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Institutional Ownership by Quarter for Truist Financial (NYSE:TFC)

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