Avior Wealth Management LLC Cuts Position in Truist Financial Corporation $TFC

Avior Wealth Management LLC decreased its holdings in Truist Financial Corporation (NYSE:TFC) by 2.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,934 shares of the insurance provider’s stock after selling 441 shares during the quarter. Avior Wealth Management LLC’s holdings in Truist Financial were worth $857,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the business. Amundi raised its position in Truist Financial by 4.6% in the first quarter. Amundi now owns 24,774,656 shares of the insurance provider’s stock worth $1,019,477,000 after acquiring an additional 1,091,311 shares in the last quarter. Invesco Ltd. increased its position in shares of Truist Financial by 32.0% in the first quarter. Invesco Ltd. now owns 13,140,282 shares of the insurance provider’s stock valued at $540,723,000 after buying an additional 3,188,999 shares in the last quarter. American Century Companies Inc. increased its position in shares of Truist Financial by 21.8% in the first quarter. American Century Companies Inc. now owns 12,041,524 shares of the insurance provider’s stock valued at $495,509,000 after buying an additional 2,158,639 shares in the last quarter. Federated Hermes Inc. increased its position in shares of Truist Financial by 0.9% in the first quarter. Federated Hermes Inc. now owns 9,511,639 shares of the insurance provider’s stock valued at $391,404,000 after buying an additional 89,373 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Truist Financial by 5.4% in the first quarter. Dimensional Fund Advisors LP now owns 8,030,898 shares of the insurance provider’s stock valued at $330,408,000 after buying an additional 408,726 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

TFC has been the subject of a number of research analyst reports. Citigroup upgraded Truist Financial from a “neutral” rating to a “buy” rating and raised their price target for the company from $44.00 to $55.00 in a research report on Thursday, June 26th. Raymond James Financial upgraded Truist Financial from a “market perform” rating to an “outperform” rating and set a $50.00 price target for the company in a research report on Tuesday, July 8th. Wells Fargo & Company restated an “equal weight” rating and issued a $47.00 price target on shares of Truist Financial in a research report on Thursday, August 21st. Morgan Stanley raised their price target on Truist Financial from $48.00 to $54.00 and gave the company an “equal weight” rating in a research report on Monday. Finally, Keefe, Bruyette & Woods lowered Truist Financial from an “outperform” rating to a “market perform” rating and set a $48.00 price objective on the stock. in a research note on Wednesday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $48.82.

Insider Transactions at Truist Financial

In other Truist Financial news, insider Bradley D. Bender sold 12,540 shares of the firm’s stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $45.19, for a total value of $566,682.60. Following the sale, the insider directly owned 500 shares of the company’s stock, valued at approximately $22,595. This trade represents a 96.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.14% of the company’s stock.

Truist Financial Stock Down 0.3%

Shares of NYSE:TFC opened at $45.90 on Tuesday. The stock’s 50-day moving average price is $45.15 and its two-hundred day moving average price is $41.96. 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 firm has a market cap of $59.19 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 1.48 and a beta of 0.88.

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

Truist Financial Announces Dividend

The firm also recently declared 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 presently 56.68%.

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.