Truist Financial Co. (NYSE:TFC) Shares Sold by Cramer Rosenthal Mcglynn LLC

Cramer Rosenthal Mcglynn LLC lessened its holdings in Truist Financial Co. (NYSE:TFC) by 3.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 435,788 shares of the insurance provider’s stock after selling 16,347 shares during the period. Cramer Rosenthal Mcglynn LLC’s holdings in Truist Financial were worth $18,904,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of TFC. Bangor Savings Bank raised its stake in shares of Truist Financial by 92.5% during the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock worth $25,000 after buying an additional 272 shares during the period. Hopwood Financial Services Inc. acquired a new position in Truist Financial during the fourth quarter worth $26,000. Curio Wealth LLC purchased a new position in Truist Financial during the fourth quarter valued at $45,000. City State Bank grew 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 purchasing an additional 716 shares during the period. Finally, Brown Lisle Cummings Inc. purchased a new stake in shares of Truist Financial during the fourth quarter worth about $55,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Performance

NYSE TFC opened at $35.88 on Friday. The company has a market cap of $46.83 billion, a P/E ratio of 10.77, a P/E/G ratio of 1.63 and a beta of 0.91. Truist Financial Co. has a 1-year low of $33.56 and a 1-year high of $49.06. 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 stock has a 50-day moving average of $41.44 and a two-hundred day moving average of $43.82.

Truist Financial (NYSE:TFC) last announced its earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, hitting the consensus estimate of $0.87. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The firm had revenue of $4.95 billion for the quarter, compared to the consensus estimate of $4.99 billion. During the same period in the prior year, the firm earned $0.90 EPS. As a group, analysts anticipate that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a yield of 5.80%. Truist Financial’s dividend payout ratio (DPR) is presently 62.46%.

Analyst Ratings Changes

Several analysts recently commented on the company. Citigroup dropped their price target 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. Robert W. Baird raised shares of Truist Financial from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $48.00 to $52.00 in a report on Wednesday, March 5th. Wells Fargo & Company decreased their price target on shares of Truist Financial from $52.00 to $50.00 and set an “overweight” rating on the stock in a research note on Friday, March 28th. HSBC raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Tuesday, January 7th. Finally, Morgan Stanley decreased their target price on shares of Truist Financial from $50.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Monday, April 7th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $50.22.

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.