Truist Financial Co. (NYSE:TFC) Shares Sold by LSV Asset Management

LSV Asset Management trimmed its holdings in Truist Financial Co. (NYSE:TFC) by 12.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,307,600 shares of the insurance provider’s stock after selling 190,000 shares during the quarter. LSV Asset Management owned 0.10% of Truist Financial worth $56,724,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Bangor Savings Bank grew its holdings in Truist Financial by 92.5% during the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock worth $25,000 after acquiring an additional 272 shares during the period. Hopwood Financial Services Inc. acquired a new stake in shares of Truist Financial during the 4th quarter worth approximately $26,000. Curio Wealth LLC purchased a new position in shares of Truist Financial during the 4th quarter valued at approximately $45,000. City State Bank lifted its stake in shares of Truist Financial by 158.1% in the 4th quarter. City State Bank now owns 1,169 shares of the insurance provider’s stock valued at $51,000 after purchasing an additional 716 shares during the period. Finally, Brown Lisle Cummings Inc. purchased a new stake in Truist Financial during the fourth quarter worth $55,000. 71.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on TFC shares. Stephens upped their price objective on shares of Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Keefe, Bruyette & Woods increased their price target on Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 21st. Citigroup cut their price objective on Truist Financial from $51.00 to $44.00 and set a “neutral” rating for the company in a research report on Monday, March 24th. StockNews.com lowered Truist Financial from a “hold” rating to a “sell” rating in a research report on Thursday, April 3rd. Finally, JPMorgan Chase & Co. cut their price target on shares of Truist Financial from $48.00 to $42.00 and set a “neutral” rating for the company in a report on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $50.22.

Truist Financial Price Performance

TFC stock opened at $35.48 on Friday. Truist Financial Co. has a 1 year low of $33.56 and a 1 year high of $49.06. The firm has a market capitalization of $46.32 billion, a PE ratio of 10.66, a price-to-earnings-growth ratio of 1.63 and a beta of 0.91. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. The business has a 50 day simple moving average of $42.60 and a 200-day simple moving average of $44.05.

Truist Financial (NYSE:TFC) last issued its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. The business had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period last year, the company earned $0.81 EPS. Equities research analysts anticipate that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.08 annualized dividend and a dividend yield of 5.86%. Truist Financial’s dividend payout ratio (DPR) is 62.46%.

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.