Truist Financial Co. (NYSE:TFC) Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP cut its stake in Truist Financial Co. (NYSE:TFC) by 90.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,301 shares of the insurance provider’s stock after selling 129,286 shares during the period. Quantbot Technologies LP’s holdings in Truist Financial were worth $577,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bangor Savings Bank increased its holdings in Truist Financial by 92.5% during the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock valued at $25,000 after acquiring an additional 272 shares in the last quarter. Hopwood Financial Services Inc. acquired a new stake in Truist Financial during the 4th quarter valued at $26,000. Curio Wealth LLC acquired a new position in shares of Truist Financial in the fourth quarter worth $45,000. City State Bank lifted its position in shares of Truist Financial by 158.1% in the fourth quarter. City State Bank now owns 1,169 shares of the insurance provider’s stock valued at $51,000 after acquiring an additional 716 shares in the last quarter. Finally, True Wealth Design LLC purchased a new position in Truist Financial in the 3rd quarter valued at about $51,000. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on TFC shares. Morgan Stanley lifted their price objective on Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. Stephens lifted their price target on shares of Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. HSBC raised Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research note on Tuesday, January 7th. Barclays lifted their price target on shares of Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. Finally, Baird R W upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Nine analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Truist Financial presently has a consensus rating of “Moderate Buy” and an average target price of $50.79.

Truist Financial Price Performance

TFC opened at $41.42 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. Truist Financial Co. has a 1-year low of $35.09 and a 1-year high of $49.06. The company has a 50-day moving average of $44.93 and a 200-day moving average of $44.41. The company has a market capitalization of $54.07 billion, a P/E ratio of 12.44, a PEG ratio of 1.63 and a beta of 1.08.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, beating 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 analyst estimates of $5.05 billion. During the same period in the previous year, the company earned $0.81 earnings per share. Truist Financial’s quarterly revenue was up 3.4% on a year-over-year basis. Equities analysts expect that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 5.02%. The ex-dividend date of this dividend was Friday, February 14th. Truist Financial’s dividend payout ratio is currently 62.46%.

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.