Truist Financial Co. (NYSE:TFC) Stake Lessened by Yousif Capital Management LLC

Yousif Capital Management LLC decreased its holdings in shares of Truist Financial Co. (NYSE:TFC) by 3.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 182,446 shares of the insurance provider’s stock after selling 5,990 shares during the quarter. Yousif Capital Management LLC’s holdings in Truist Financial were worth $7,915,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of TFC. Bangor Savings Bank increased its holdings in shares of Truist Financial by 92.5% in the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 272 shares during the period. Valley Wealth Managers Inc. acquired a new position in Truist Financial in the 3rd quarter valued at approximately $26,000. MidAtlantic Capital Management Inc. purchased a new stake in Truist Financial in the 3rd quarter worth approximately $32,000. Fortitude Family Office LLC grew its holdings in shares of Truist Financial by 376.7% during the 3rd quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock valued at $37,000 after acquiring an additional 678 shares in the last quarter. Finally, Ashton Thomas Securities LLC acquired a new position in shares of Truist Financial in the third quarter worth $45,000. 71.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Keefe, Bruyette & Woods lifted their price objective on Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a research report on Tuesday, January 21st. Piper Sandler boosted their price target on Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Raymond James raised their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. HSBC raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. raised their price target on shares of Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Eleven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Truist Financial has an average rating of “Moderate Buy” and a consensus target price of $50.79.

Truist Financial Trading Up 0.6 %

Shares of TFC stock opened at $47.64 on Thursday. The firm’s fifty day simple moving average is $45.52 and its 200 day simple moving average is $44.18. The firm has a market capitalization of $63.24 billion, a P/E ratio of 14.31, a price-to-earnings-growth ratio of 1.69 and a beta of 1.08. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. Truist Financial Co. has a 1 year low of $34.23 and a 1 year high of $49.06.

Truist Financial (NYSE:TFC) last issued its earnings results on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.88 by $0.03. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The firm had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.05 billion. During the same period last year, the business earned $0.81 earnings per share. Truist Financial’s quarterly revenue was up 3.4% compared to the same quarter last year. As a group, sell-side analysts predict that Truist Financial Co. will post 3.95 EPS for the current year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.37%. The ex-dividend date is Friday, February 14th. Truist Financial’s dividend payout ratio is 62.46%.

Insider Transactions at Truist Financial

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

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.