Leavell Investment Management Inc. reduced its position in shares of Truist Financial Co. (NYSE:TFC) by 8.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 56,357 shares of the insurance provider’s stock after selling 5,156 shares during the period. Leavell Investment Management Inc.’s holdings in Truist Financial were worth $2,144,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TFC. FMR LLC boosted its position in shares of Truist Financial by 7.3% during the first quarter. FMR LLC now owns 349,974 shares of the insurance provider’s stock worth $16,284,000 after buying an additional 23,680 shares during the period. APG Asset Management N.V. boosted its holdings in Truist Financial by 12.4% in the first quarter. APG Asset Management N.V. now owns 3,590,632 shares of the insurance provider’s stock valued at $110,735,000 after purchasing an additional 396,524 shares during the period. Thomasville National Bank purchased a new position in Truist Financial in the second quarter valued at $16,016,000. Fulton Bank N. A. boosted its holdings in Truist Financial by 19.8% in the second quarter. Fulton Bank N. A. now owns 21,251 shares of the insurance provider’s stock valued at $798,000 after purchasing an additional 3,505 shares during the period. Finally, Norway Savings Bank boosted its holdings in Truist Financial by 18.5% in the second quarter. Norway Savings Bank now owns 9,854 shares of the insurance provider’s stock valued at $370,000 after purchasing an additional 1,540 shares during the period. Institutional investors and hedge funds own 73.36% of the company’s stock.
NYSE TFC opened at $41.85 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.66. The business’s 50 day moving average is $40.18 and its two-hundred day moving average is $37.86. Truist Financial Co. has a 12-month low of $24.01 and a 12-month high of $56.92. The stock has a market capitalization of $56.40 billion, a price-to-earnings ratio of 14.23, a PEG ratio of 1.43 and a beta of 1.40.
Truist Financial (NYSE:TFC) last released its earnings results on Thursday, October 15th. The insurance provider reported $0.97 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.09. Truist Financial had a return on equity of 7.76% and a net margin of 16.95%. The company had revenue of $5.60 billion for the quarter, compared to analysts’ expectations of $5.48 billion. During the same quarter in the previous year, the firm posted $0.95 EPS. The firm’s quarterly revenue was up 85.1% on a year-over-year basis. Equities analysts forecast that Truist Financial Co. will post 3.52 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 13th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 4.30%. The ex-dividend date of this dividend is Thursday, November 12th. Truist Financial’s payout ratio is 41.19%.
TFC has been the subject of a number of recent analyst reports. ValuEngine downgraded Truist Financial from a “hold” rating to a “sell” rating in a report on Wednesday, October 21st. Royal Bank of Canada reaffirmed a “buy” rating on shares of Truist Financial in a report on Monday, July 6th. TheStreet raised Truist Financial from a “c+” rating to a “b-” rating in a report on Thursday, October 8th. Bank of America decreased their price target on Truist Financial from $51.00 to $50.00 and set a “buy” rating for the company in a report on Friday, October 16th. Finally, Zacks Investment Research raised Truist Financial from a “sell” rating to a “hold” rating and set a $40.00 price target for the company in a report on Friday, August 21st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $44.68.
In related news, EVP David Hudson Weaver sold 7,416 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $38.28, for a total value of $283,884.48. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director K. David Jr. Boyer sold 1,500 shares of the company’s stock in a transaction dated Wednesday, September 23rd. The shares were sold at an average price of $36.50, for a total transaction of $54,750.00. The disclosure for this sale can be found here. 0.35% of the stock is owned by insiders.
Truist Financial Company Profile
Truist Financial Corporation, a holding company, provides banking and trust services for small and mid-size businesses, public agencies, local governments, corporations, and individuals 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.
Recommended Story: Outperform Rating
Want to see what other hedge funds are holding TFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Truist Financial Co. (NYSE:TFC).
Receive News & Ratings for Truist Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Truist Financial and related companies with MarketBeat.com's FREE daily email newsletter.