LongView Wealth Management Reduces Holdings in Truist Financial Co. (NYSE:TFC)

LongView Wealth Management cut its stake in shares of Truist Financial Co. (NYSE:TFC) by 20.6% in the 1st quarter, HoldingsChannel reports. The fund owned 5,471 shares of the insurance provider’s stock after selling 1,421 shares during the quarter. LongView Wealth Management’s holdings in Truist Financial were worth $213,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Operose Advisors LLC bought a new stake in shares of Truist Financial in the 3rd quarter worth approximately $31,000. O Shaughnessy Asset Management LLC grew its position in shares of Truist Financial by 21.1% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 35,464 shares of the insurance provider’s stock worth $1,015,000 after buying an additional 6,181 shares during the last quarter. Treasurer of the State of North Carolina grew its position in shares of Truist Financial by 0.4% in the 3rd quarter. Treasurer of the State of North Carolina now owns 599,785 shares of the insurance provider’s stock worth $17,160,000 after buying an additional 2,180 shares during the last quarter. Qube Research & Technologies Ltd grew its position in shares of Truist Financial by 37.8% in the 3rd quarter. Qube Research & Technologies Ltd now owns 2,700,400 shares of the insurance provider’s stock worth $77,258,000 after buying an additional 740,722 shares during the last quarter. Finally, Staley Capital Advisers Inc. grew its position in shares of Truist Financial by 16.3% in the 3rd quarter. Staley Capital Advisers Inc. now owns 21,509 shares of the insurance provider’s stock worth $615,000 after buying an additional 3,009 shares during the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TFC. Barclays assumed coverage on Truist Financial in a research report on Thursday, May 16th. They issued an “equal weight” rating and a $43.00 price objective on the stock. HSBC lifted their price target on Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a research report on Wednesday, May 8th. Jefferies Financial Group lifted their price target on Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a research report on Monday, April 8th. StockNews.com lowered Truist Financial from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, Piper Sandler lifted their price target on Truist Financial from $38.00 to $41.00 and gave the company a “neutral” rating in a research report on Tuesday, May 14th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $43.17.

Truist Financial Stock Up 2.7 %

TFC stock opened at $38.85 on Friday. Truist Financial Co. has a 1-year low of $26.57 and a 1-year high of $40.51. The business has a fifty day moving average price of $37.89 and a 200-day moving average price of $37.13. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a market capitalization of $51.99 billion, a P/E ratio of -29.43, a P/E/G ratio of 1.99 and a beta of 1.06.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.12. The company had revenue of $4.87 billion during the quarter, compared to analysts’ expectations of $5.70 billion. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. Truist Financial’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.09 earnings per share. Equities analysts forecast that Truist Financial Co. will post 3.36 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Friday, May 10th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 5.35%. The ex-dividend date of this dividend was Thursday, May 9th. Truist Financial’s dividend payout ratio (DPR) is presently -157.58%.

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.