Truist Financial Co. (NYSE:TFC) Stock Holdings Trimmed by Mountain Pacific Investment Advisers LLC

Mountain Pacific Investment Advisers LLC lowered its position in shares of Truist Financial Co. (NYSE:TFC) by 25.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,366 shares of the insurance provider’s stock after selling 1,812 shares during the quarter. Mountain Pacific Investment Advisers LLC’s holdings in Truist Financial were worth $208,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Truist Financial during the 4th quarter valued at about $307,787,000. Capital International Investors raised its position in shares of Truist Financial by 93.7% during the 1st quarter. Capital International Investors now owns 11,643,242 shares of the insurance provider’s stock worth $453,854,000 after purchasing an additional 5,632,493 shares during the period. Parnassus Investments LLC bought a new stake in shares of Truist Financial in the 4th quarter worth approximately $95,049,000. Azora Capital LP acquired a new position in Truist Financial during the 4th quarter valued at approximately $72,498,000. Finally, Charles Schwab Investment Management Inc. grew its stake in Truist Financial by 8.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 19,238,388 shares of the insurance provider’s stock worth $690,793,000 after buying an additional 1,458,248 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Price Performance

Shares of NYSE TFC traded up $0.97 during midday trading on Thursday, reaching $42.07. The company’s stock had a trading volume of 5,705,015 shares, compared to its average volume of 8,486,246. The company has a market cap of $56.29 billion, a price-to-earnings ratio of -31.87, a price-to-earnings-growth ratio of 1.97 and a beta of 1.06. Truist Financial Co. has a one year low of $26.57 and a one year high of $45.31. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61. The company has a 50 day moving average price of $39.62 and a 200 day moving average price of $38.12.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Monday, July 22nd. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.07. The company had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $4.83 billion. Truist Financial had a positive return on equity of 9.18% and a negative net margin of 5.63%. The firm’s revenue was down 15.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.95 earnings per share. On average, equities research analysts expect that Truist Financial Co. will post 3.55 EPS for the current year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 9th will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.94%. Truist Financial’s dividend payout ratio (DPR) is -157.58%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TFC. Bank of America boosted their price target on shares of Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Barclays boosted their target price on shares of Truist Financial from $43.00 to $47.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. Keefe, Bruyette & Woods raised their price target on shares of Truist Financial from $46.00 to $48.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Robert W. Baird downgraded Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 price objective for the company. in a research report on Wednesday, July 17th. Finally, Citigroup cut Truist Financial from a “buy” rating to a “neutral” rating and raised their target price for the company from $45.00 to $47.00 in a research report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $45.30.

Insider Buying and Selling

In other news, CEO William H. Rogers, Jr. acquired 57,300 shares of Truist Financial stock in a transaction on Tuesday, July 23rd. The stock was bought at an average cost of $43.96 per share, with a total value of $2,518,908.00. Following the completion of the purchase, the chief executive officer now owns 569,271 shares of the company’s stock, valued at $25,025,153.16. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO William H. Rogers, Jr. bought 57,300 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were bought at an average cost of $43.96 per share, with a total value of $2,518,908.00. Following the purchase, the chief executive officer now directly owns 569,271 shares in the company, valued at $25,025,153.16. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Cynthia B. Powell sold 6,688 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $44.14, for a total value of $295,208.32. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by company insiders.

Truist Financial Company 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.