Truist Financial Corporation $TFC Stake Reduced by Quantbot Technologies LP

Quantbot Technologies LP trimmed its stake in Truist Financial Corporation (NYSE:TFC) by 64.4% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 85,079 shares of the insurance provider’s stock after selling 153,696 shares during the quarter. Quantbot Technologies LP’s holdings in Truist Financial were worth $3,658,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. M&T Bank Corp increased its holdings in shares of Truist Financial by 2.8% in the 2nd quarter. M&T Bank Corp now owns 175,555 shares of the insurance provider’s stock worth $7,547,000 after acquiring an additional 4,702 shares during the period. Brandes Investment Partners LP grew its position in Truist Financial by 2.5% in the 2nd quarter. Brandes Investment Partners LP now owns 760,426 shares of the insurance provider’s stock worth $32,691,000 after purchasing an additional 18,402 shares during the last quarter. Shelton Capital Management increased its stake in shares of Truist Financial by 9.8% in the second quarter. Shelton Capital Management now owns 131,783 shares of the insurance provider’s stock valued at $5,665,000 after purchasing an additional 11,744 shares during the period. Prossimo Advisors LLC acquired a new stake in shares of Truist Financial in the second quarter valued at approximately $247,000. Finally, VestGen Advisors LLC raised its holdings in shares of Truist Financial by 9.0% during the second quarter. VestGen Advisors LLC now owns 26,000 shares of the insurance provider’s stock valued at $1,118,000 after buying an additional 2,138 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on TFC shares. Raymond James Financial reissued an “outperform” rating on shares of Truist Financial in a report on Tuesday, October 7th. UBS Group set a $55.00 price target on Truist Financial in a research report on Tuesday, October 21st. Wells Fargo & Company reissued an “equal weight” rating and set a $47.00 price target on shares of Truist Financial in a report on Thursday, August 21st. TD Cowen upgraded shares of Truist Financial from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a research note on Tuesday, October 21st. Finally, Morgan Stanley upped their price objective on shares of Truist Financial from $54.00 to $55.00 and gave the stock an “equal weight” rating in a report on Monday, October 20th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $50.00.

Insider Activity at Truist Financial

In related news, Director K. David Jr. Boyer sold 5,160 shares of the stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $46.45, for a total transaction of $239,682.00. Following the completion of the sale, the director directly owned 10,153 shares of the company’s stock, valued at $471,606.85. This represents a 33.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.17% of the stock is owned by insiders.

Truist Financial Stock Up 2.0%

TFC opened at $47.41 on Thursday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market capitalization of $60.65 billion, a PE ratio of 12.75, a P/E/G ratio of 1.01 and a beta of 0.90. The stock’s fifty day moving average is $44.73 and its 200-day moving average is $43.90. Truist Financial Corporation has a one year low of $33.56 and a one year high of $48.53.

Truist Financial (NYSE:TFC) last released its earnings results on Friday, October 17th. The insurance provider reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.05. Truist Financial had a return on equity of 8.73% and a net margin of 16.84%.The firm had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.20 billion. During the same period in the previous year, the company earned $0.97 earnings per share. Truist Financial’s revenue was up 1.9% compared to the same quarter last year. On average, equities analysts predict that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Friday, November 14th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a $2.08 annualized dividend and a dividend yield of 4.4%. Truist Financial’s payout ratio is currently 55.91%.

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.