Truist Financial Co. (NYSE:TFC) Shares Sold by Disciplined Equity Management Inc.

Disciplined Equity Management Inc. reduced its stake in shares of Truist Financial Co. (NYSE:TFC) by 3.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 47,010 shares of the insurance provider’s stock after selling 1,610 shares during the quarter. Truist Financial accounts for 1.3% of Disciplined Equity Management Inc.’s holdings, making the stock its 10th biggest holding. Disciplined Equity Management Inc.’s holdings in Truist Financial were worth $1,934,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Hopwood Financial Services Inc. acquired a new position in shares of Truist Financial during the 4th quarter worth $26,000. Navigoe LLC bought a new position in Truist Financial in the fourth quarter valued at about $26,000. Curio Wealth LLC bought a new position in Truist Financial in the fourth quarter valued at about $45,000. TCTC Holdings LLC raised its stake in Truist Financial by 28.1% during the fourth quarter. TCTC Holdings LLC now owns 1,310 shares of the insurance provider’s stock worth $57,000 after acquiring an additional 287 shares in the last quarter. Finally, Pinney & Scofield Inc. bought a new position in shares of Truist Financial in the fourth quarter worth about $57,000. 71.28% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TFC has been the topic of several research reports. Piper Sandler decreased their price target on shares of Truist Financial from $45.00 to $41.00 and set a “neutral” rating on the stock in a report on Monday, April 21st. TD Cowen started coverage on shares of Truist Financial in a research report on Thursday, May 15th. They issued a “hold” rating and a $44.00 target price on the stock. Wells Fargo & Company lowered their price target on shares of Truist Financial from $52.00 to $50.00 and set an “overweight” rating for the company in a report on Friday, March 28th. Stephens dropped their price target on Truist Financial from $48.00 to $46.00 and set an “overweight” rating for the company in a research note on Monday, April 21st. Finally, Wall Street Zen raised Truist Financial from a “sell” rating to a “hold” rating in a report on Wednesday, May 7th. Nine investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $47.83.

Truist Financial Stock Performance

Shares of TFC stock opened at $40.66 on Friday. The stock has a market capitalization of $53.25 billion, a PE ratio of 12.21, a PEG ratio of 1.63 and a beta of 0.84. The business’s 50 day simple moving average is $38.43 and its 200 day simple moving average is $42.65. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. Truist Financial Co. has a one year low of $33.56 and a one year high of $49.06.

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

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 9th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $2.08 dividend on an annualized basis and a yield of 5.12%. Truist Financial’s payout ratio is currently 61.36%.

Truist Financial Company 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.