Truist Financial Co. (NYSE:TFC) Shares Sold by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp trimmed its stake in shares of Truist Financial Co. (NYSE:TFC) by 1.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,122 shares of the insurance provider’s stock after selling 402 shares during the period. Atlantic Union Bankshares Corp’s holdings in Truist Financial were worth $1,603,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Valmark Advisers Inc. raised its holdings in Truist Financial by 2.2% during the fourth quarter. Valmark Advisers Inc. now owns 12,965 shares of the insurance provider’s stock worth $479,000 after purchasing an additional 277 shares in the last quarter. St. Johns Investment Management Company LLC raised its holdings in Truist Financial by 0.9% during the fourth quarter. St. Johns Investment Management Company LLC now owns 32,255 shares of the insurance provider’s stock worth $1,191,000 after purchasing an additional 296 shares in the last quarter. Mechanics Financial Corp raised its holdings in Truist Financial by 7.4% during the fourth quarter. Mechanics Financial Corp now owns 4,345 shares of the insurance provider’s stock worth $160,000 after purchasing an additional 300 shares in the last quarter. Day & Ennis LLC raised its holdings in Truist Financial by 4.3% during the fourth quarter. Day & Ennis LLC now owns 7,525 shares of the insurance provider’s stock worth $278,000 after purchasing an additional 311 shares in the last quarter. Finally, Carson Advisory Inc. raised its holdings in Truist Financial by 1.5% during the fourth quarter. Carson Advisory Inc. now owns 21,928 shares of the insurance provider’s stock worth $810,000 after purchasing an additional 315 shares in the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on TFC. Barclays started coverage on shares of Truist Financial in a report on Thursday, May 16th. They set an “equal weight” rating and a $43.00 price objective on the stock. Stephens raised their target price on shares of Truist Financial from $43.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, May 16th. Piper Sandler raised their target price on shares of Truist Financial from $38.00 to $41.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 14th. UBS Group raised their target price on shares of Truist Financial from $45.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. Finally, Compass Point upgraded shares of Truist Financial from a “neutral” rating to a “buy” rating and raised their target price for the stock from $34.00 to $42.00 in a research report on Tuesday, April 23rd. One 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’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.17.

Truist Financial Price Performance

Shares of NYSE TFC opened at $38.85 on Friday. The firm has a market capitalization of $51.99 billion, a P/E ratio of -29.43, a PEG ratio of 1.99 and a beta of 1.06. Truist Financial Co. has a one year low of $26.57 and a one year high of $40.51. The company’s fifty day moving average is $37.89 and its two-hundred day moving average is $37.13. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.82 and a current ratio of 0.82.

Truist Financial (NYSE:TFC) last issued its earnings results on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.78 by $0.12. The company had revenue of $4.87 billion for the quarter, compared to analyst estimates of $5.70 billion. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The business’s revenue was down 8.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.09 EPS. Analysts forecast that Truist Financial Co. will post 3.36 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 10th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $2.08 annualized dividend and a dividend yield of 5.35%. Truist Financial’s payout ratio is currently -157.58%.

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.