20,500 Truist Financial Corporation $TFC Shares Sold by Letko Brosseau & Associates Inc.

Letko Brosseau & Associates Inc. trimmed its position in shares of Truist Financial Corporation (NYSE:TFC) by 1.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,531,461 shares of the insurance provider’s stock after selling 20,500 shares during the quarter. Letko Brosseau & Associates Inc. owned approximately 0.13% of Truist Financial worth $70,907,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. N.E.W. Advisory Services LLC bought a new position in Truist Financial during the second quarter valued at approximately $30,000. Navigoe LLC acquired a new stake in Truist Financial in the second quarter valued at approximately $30,000. Valued Wealth Advisors LLC grew its position in Truist Financial by 107.6% in the third quarter. Valued Wealth Advisors LLC now owns 679 shares of the insurance provider’s stock worth $31,000 after acquiring an additional 352 shares in the last quarter. Wilkerson Advisory Group LLC grew its position in Truist Financial by 104.0% in the first quarter. Wilkerson Advisory Group LLC now owns 826 shares of the insurance provider’s stock worth $38,000 after acquiring an additional 421 shares in the last quarter. Finally, Elevation Wealth Partners LLC grew its position in Truist Financial by 44.6% in the second quarter. Elevation Wealth Partners LLC now owns 892 shares of the insurance provider’s stock worth $44,000 after acquiring an additional 275 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on TFC shares. The Goldman Sachs Group dropped their price target on shares of Truist Financial from $59.00 to $58.00 and set a “buy” rating on the stock in a research note on Monday, October 19th. Stephens reduced their price objective on shares of Truist Financial from $55.00 to $54.00 and set an “overweight” rating for the company in a research note on Tuesday, October 20th. Wells Fargo & Company set a $52.00 price objective on shares of Truist Financial in a research note on Thursday, October 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of Truist Financial in a report on Tuesday, October 27th. Finally, HSBC began coverage on shares of Truist Financial in a research report on Monday, September 28th. They set a “buy” rating and a $61.00 target price on the stock. Nine investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $54.73.

Truist Financial Stock Performance

TFC opened at $49.90 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.95. The stock’s 50 day moving average price is $48.35 and its two-hundred day moving average price is $49.51. The firm has a market capitalization of $59.81 billion, a P/E ratio of 12.86, a price-to-earnings-growth ratio of 1.11 and a beta of 0.90. Truist Financial Corporation has a 12-month low of $43.13 and a 12-month high of $56.19.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Friday, October 16th. The insurance provider reported $1.16 EPS for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.01). Truist Financial had a return on equity of 10.37% and a net margin of 18.01%. The business had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.35 billion. During the same quarter last year, the firm earned $1.04 earnings per share. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, equities analysts forecast that Truist Financial Corporation will post 4.66 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 13th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, November 13th. This represents a $2.08 dividend on an annualized basis and a yield of 4.2%. Truist Financial’s dividend payout ratio is 53.61%.

Insider Transactions at Truist Financial

In related news, CEO Michael Lyons purchased 25,000 shares of the firm’s stock in a transaction on Wednesday, October 28th. The shares were bought at an average cost of $48.36 per share, for a total transaction of $1,209,000.00. Following the transaction, the chief executive officer directly owned 46,000 shares of the company’s stock, valued at approximately $2,224,560. This trade represents a 119.05% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.15% of the stock is owned by corporate insiders.

Truist Financial Company Profile

Truist Financial Corporation (NYSE: TFC) is a financial services company headquartered in Charlotte, North Carolina. It provides banking and related services to individuals, businesses and institutions, including deposit accounts, loans, credit cards, payment services and treasury management. The company also offers wealth management, investment and mortgage services, along with commercial banking and capital markets solutions. Its operations are concentrated in the southeastern and mid-Atlantic United States, serving customers through branches, digital channels and other delivery platforms.