Truist Financial Corporation (NYSE:TFC) Shares Sold by Capital Investment Counsel Inc

Capital Investment Counsel Inc reduced its stake in shares of Truist Financial Corporation (NYSE:TFC) by 12.9% during the 1st quarter, Holdings Channel.com reports. The firm owned 53,225 shares of the insurance provider’s stock after selling 7,915 shares during the quarter. Capital Investment Counsel Inc’s holdings in Truist Financial were worth $2,190,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of TFC. Capital International Investors increased its holdings in shares of Truist Financial by 26.0% during the 4th quarter. Capital International Investors now owns 90,617,519 shares of the insurance provider’s stock valued at $3,930,983,000 after purchasing an additional 18,712,246 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Truist Financial by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 27,975,691 shares of the insurance provider’s stock worth $1,210,348,000 after acquiring an additional 534,740 shares in the last quarter. Amundi increased its stake in shares of Truist Financial by 6.5% in the 4th quarter. Amundi now owns 23,683,345 shares of the insurance provider’s stock valued at $1,040,718,000 after purchasing an additional 1,450,323 shares in the last quarter. Northern Trust Corp boosted its position in Truist Financial by 20.5% during the fourth quarter. Northern Trust Corp now owns 14,434,173 shares of the insurance provider’s stock worth $626,154,000 after purchasing an additional 2,452,239 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Truist Financial by 13.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,738,289 shares of the insurance provider’s stock valued at $465,827,000 after purchasing an additional 1,307,252 shares during the period. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TFC has been the subject of several research analyst reports. Morgan Stanley reduced their target price on Truist Financial from $50.00 to $43.00 and set an “equal weight” rating for the company in a research note on Monday, April 7th. Wells Fargo & Company reduced their price target on shares of Truist Financial from $52.00 to $50.00 and set an “overweight” rating for the company in a research report on Friday, March 28th. TD Cowen initiated coverage on Truist Financial in a report on Thursday, May 15th. They issued a “hold” rating and a $44.00 price objective on the stock. Baird R W upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Finally, Barclays lowered their price target on Truist Financial from $51.00 to $47.00 and set an “equal weight” rating on the stock in a research note on Monday, April 21st. Eight research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Truist Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.44.

Truist Financial Price Performance

Truist Financial stock opened at $45.00 on Thursday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market capitalization of $58.93 billion, a price-to-earnings ratio of 13.27, a price-to-earnings-growth ratio of 1.64 and a beta of 0.85. The company’s 50 day simple moving average is $40.14 and its 200-day simple moving average is $41.95. Truist Financial Corporation has a 1 year low of $33.56 and a 1 year high of $49.06.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Thursday, April 17th. The insurance provider reported $0.87 EPS for the quarter, hitting the consensus estimate of $0.87. The business had revenue of $4.95 billion during the quarter, compared to analyst estimates of $4.99 billion. Truist Financial had a return on equity of 8.96% and a net margin of 15.59%. During the same period last year, the business posted $0.90 earnings per share. As a group, equities research analysts expect that Truist Financial Corporation will post 4 earnings per share for the current year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 9th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.62%. The ex-dividend date was Friday, May 9th. Truist Financial’s payout ratio is 61.36%.

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.