Keybank National Association OH Decreases Holdings in Truist Financial Corporation $TFC

Keybank National Association OH lessened its stake in Truist Financial Corporation (NYSE:TFC) by 16.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 86,698 shares of the insurance provider’s stock after selling 16,610 shares during the quarter. Keybank National Association OH’s holdings in Truist Financial were worth $4,266,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Valley Wealth Managers Inc. purchased a new position in Truist Financial in the 3rd quarter worth approximately $28,000. Maseco LLP boosted its holdings in Truist Financial by 53.8% in the 4th quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 228 shares during the period. Mowery & Schoenfeld Wealth Management LLC boosted its holdings in Truist Financial by 190.7% in the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 657 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 431 shares during the period. Ancora Advisors LLC boosted its holdings in Truist Financial by 259.1% in the 3rd quarter. Ancora Advisors LLC now owns 693 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 500 shares during the period. Finally, Quest 10 Wealth Builders Inc. boosted its position in Truist Financial by 2,178.4% in the 4th quarter. Quest 10 Wealth Builders Inc. now owns 843 shares of the insurance provider’s stock valued at $42,000 after buying an additional 806 shares during the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

TFC has been the subject of a number of analyst reports. Raymond James Financial upped their price objective on shares of Truist Financial from $50.00 to $56.00 and gave the company an “outperform” rating in a research report on Wednesday, January 7th. Barclays cut shares of Truist Financial from an “equal weight” rating to an “underweight” rating and upped their price objective for the company from $47.00 to $56.00 in a research report on Monday, January 5th. Piper Sandler upped their price objective on shares of Truist Financial from $50.00 to $53.00 and gave the company a “neutral” rating in a research report on Thursday, January 22nd. The Goldman Sachs Group reiterated a “buy” rating and set a $58.00 target price on shares of Truist Financial in a research note on Tuesday, January 6th. Finally, Evercore reiterated an “outperform” rating on shares of Truist Financial in a research note on Thursday, February 5th. Ten analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $55.41.

Truist Financial Stock Performance

Shares of TFC stock opened at $51.53 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.86 and a current ratio of 0.86. Truist Financial Corporation has a one year low of $38.16 and a one year high of $56.19. The company’s 50-day simple moving average is $48.10 and its 200-day simple moving average is $48.24. The stock has a market capitalization of $63.95 billion, a price-to-earnings ratio of 12.79, a PEG ratio of 0.87 and a beta of 0.89.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Friday, April 17th. The insurance provider reported $1.09 EPS for the quarter, topping the consensus estimate of $1.00 by $0.09. Truist Financial had a net margin of 18.14% and a return on equity of 9.55%. The business had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.18 billion. During the same quarter last year, the company posted $0.87 earnings per share. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. Equities analysts anticipate that Truist Financial Corporation will post 4.52 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 8th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, May 8th. This represents a $2.08 annualized dividend and a dividend yield of 4.0%. Truist Financial’s dividend payout ratio (DPR) is presently 51.61%.

Insider Transactions at Truist Financial

In other Truist Financial news, CAO Cynthia B. Powell sold 3,500 shares of Truist Financial stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $52.49, for a total value of $183,715.00. Following the completion of the transaction, the chief accounting officer owned 667 shares of the company’s stock, valued at $35,010.83. The trade was a 83.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.15% of the stock is owned by company insiders.

About Truist Financial

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.