National Bank of Canada FI Lowers Stock Holdings in Truist Financial Co. (NYSE:TFC)

National Bank of Canada FI lowered its position in shares of Truist Financial Co. (NYSE:TFC) by 59.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 821,705 shares of the insurance provider’s stock after selling 1,193,186 shares during the period. National Bank of Canada FI owned 0.06% of Truist Financial worth $35,144,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. iA Global Asset Management Inc. grew its position in shares of Truist Financial by 220.2% during the 3rd quarter. iA Global Asset Management Inc. now owns 48,197 shares of the insurance provider’s stock valued at $2,061,000 after purchasing an additional 33,145 shares in the last quarter. EP Wealth Advisors LLC grew its position in Truist Financial by 61.8% during the third quarter. EP Wealth Advisors LLC now owns 14,419 shares of the insurance provider’s stock worth $617,000 after buying an additional 5,505 shares in the last quarter. Insigneo Advisory Services LLC increased its stake in Truist Financial by 29.0% in the 3rd quarter. Insigneo Advisory Services LLC now owns 17,369 shares of the insurance provider’s stock worth $743,000 after acquiring an additional 3,908 shares during the last quarter. Kovitz Investment Group Partners LLC raised its holdings in shares of Truist Financial by 5.4% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 170,555 shares of the insurance provider’s stock valued at $7,295,000 after acquiring an additional 8,735 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Truist Financial by 1.4% during the 3rd quarter. Wellington Management Group LLP now owns 267,463 shares of the insurance provider’s stock valued at $11,439,000 after acquiring an additional 3,796 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on TFC shares. Compass Point upped their price objective on shares of Truist Financial from $46.00 to $47.00 in a research report on Wednesday, October 16th. UBS Group increased their price target on shares of Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Wells Fargo & Company lifted their price objective on shares of Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Finally, Keefe, Bruyette & Woods lifted their price target on Truist Financial from $48.00 to $49.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Twelve equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Truist Financial currently has a consensus rating of “Hold” and a consensus target price of $47.67.

Truist Financial Stock Performance

Shares of NYSE:TFC opened at $47.26 on Monday. The stock’s 50-day moving average is $44.70 and its 200 day moving average is $42.09. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85. Truist Financial Co. has a 1 year low of $33.36 and a 1 year high of $49.06.

Truist Financial (NYSE:TFC) last announced its earnings results on Thursday, October 17th. The insurance provider reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.08. The company had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $5.05 billion. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. On average, analysts anticipate that Truist Financial Co. will post 3.7 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 8th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.40%. The ex-dividend date of this dividend was Friday, November 8th. Truist Financial’s payout ratio is -145.45%.

Insider Activity at Truist Financial

In other news, Director K. David Jr. Boyer sold 4,966 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total transaction of $229,429.20. Following the sale, the director now owns 11,246 shares in the company, valued at approximately $519,565.20. The trade was a 30.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO William H. Rogers, Jr. bought 34,180 shares of Truist Financial stock in a transaction dated Monday, November 25th. The stock was acquired at an average cost of $48.56 per share, for a total transaction of $1,659,780.80. Following the completion of the transaction, the chief executive officer now directly owns 691,451 shares in the company, valued at approximately $33,576,860.56. This trade represents a 5.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.17% of the stock is owned by corporate insiders.

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.