Truist Financial Corporation $TFC Shares Sold by V Square Quantitative Management LLC

V Square Quantitative Management LLC reduced its stake in shares of Truist Financial Corporation (NYSE:TFC) by 5.7% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 27,531 shares of the insurance provider’s stock after selling 1,676 shares during the period. V Square Quantitative Management LLC’s holdings in Truist Financial were worth $1,184,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TFC. Victory Capital Management Inc. grew its position in Truist Financial by 922.9% during the 1st 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. Invesco Ltd. grew its position in Truist Financial by 32.0% during the 1st quarter. Invesco Ltd. now owns 13,140,282 shares of the insurance provider’s stock worth $540,723,000 after purchasing an additional 3,188,999 shares during the period. Nuveen LLC acquired a new stake in shares of Truist Financial during the 1st quarter valued at about $117,929,000. Assenagon Asset Management S.A. grew its position in shares of Truist Financial by 610.8% during the 1st quarter. Assenagon Asset Management S.A. now owns 2,661,895 shares of the insurance provider’s stock valued at $109,537,000 after acquiring an additional 2,287,410 shares during the period. Finally, American Century Companies Inc. grew its position in shares of Truist Financial by 21.8% during the 1st quarter. American Century Companies Inc. now owns 12,041,524 shares of the insurance provider’s stock valued at $495,509,000 after acquiring an additional 2,158,639 shares during the period. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Trading Up 0.7%

TFC stock opened at $46.06 on Monday. 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 12-month low of $33.56 and a 12-month high of $49.06. The stock has a market cap of $59.39 billion, a price-to-earnings ratio of 12.55, a PEG ratio of 1.48 and a beta of 0.88. The business’s 50-day moving average is $45.12 and its 200 day moving average is $41.92.

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

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, August 8th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend was Friday, August 8th. Truist Financial’s dividend payout ratio (DPR) is 56.68%.

Insiders Place Their Bets

In other Truist Financial news, insider Bradley D. Bender sold 12,540 shares of the firm’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 value of $566,682.60. Following the transaction, the insider directly owned 500 shares of the company’s stock, valued at $22,595. This trade represents a 96.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.14% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently commented on TFC. Raymond James Financial upgraded Truist Financial from a “market perform” rating to an “outperform” rating and set a $50.00 target price on the stock in a research report on Tuesday, July 8th. Wells Fargo & Company restated an “equal weight” rating and set a $47.00 target price on shares of Truist Financial in a research report on Thursday, August 21st. Morgan Stanley restated a “mixed” rating on shares of Truist Financial in a research report on Monday, July 21st. Keefe, Bruyette & Woods cut Truist Financial from an “outperform” rating to a “market perform” rating and set a $48.00 target price on the stock. in a research report on Wednesday, July 9th. Finally, Citigroup upgraded Truist Financial from a “neutral” rating to a “buy” rating and raised their target price for the company from $44.00 to $55.00 in a research report on Thursday, June 26th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Truist Financial currently has an average rating of “Moderate Buy” and an average target price of $48.47.

About Truist Financial

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.