XML Financial LLC Trims Stake in Truist Financial Corporation $TFC

XML Financial LLC reduced its position in shares of Truist Financial Corporation (NYSE:TFC) by 12.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,291 shares of the insurance provider’s stock after selling 10,373 shares during the period. XML Financial LLC’s holdings in Truist Financial were worth $3,656,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Pinebridge Investments LLC purchased a new position in shares of Truist Financial during the 4th quarter valued at $26,243,000. WINTON GROUP Ltd purchased a new position in shares of Truist Financial during the 4th quarter valued at $3,469,000. Curio Wealth LLC lifted its holdings in shares of Truist Financial by 191.4% during the 4th quarter. Curio Wealth LLC now owns 3,022 shares of the insurance provider’s stock worth $153,000 after acquiring an additional 1,985 shares during the last quarter. Vise Technologies Inc. lifted its holdings in shares of Truist Financial by 39.8% during the 4th quarter. Vise Technologies Inc. now owns 40,785 shares of the insurance provider’s stock worth $2,007,000 after acquiring an additional 11,612 shares during the last quarter. Finally, Continuum Advisory LLC lifted its holdings in shares of Truist Financial by 12.9% during the 4th quarter. Continuum Advisory LLC now owns 5,667 shares of the insurance provider’s stock worth $279,000 after acquiring an additional 647 shares during the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Truist Financial Stock Performance

NYSE TFC opened at $49.24 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. The company has a market capitalization of $61.35 billion, a P/E ratio of 12.22, a P/E/G ratio of 0.84 and a beta of 0.89. The company has a fifty day moving average of $48.63 and a 200-day moving average of $48.97. Truist Financial Corporation has a 52-week low of $38.83 and a 52-week high of $56.19.

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

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 8th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date was Friday, May 8th. Truist Financial’s dividend payout ratio is currently 51.61%.

Analyst Ratings Changes

TFC has been the subject of a number of research analyst reports. Jefferies Financial Group reaffirmed a “mixed” rating and set a $45.00 price objective on shares of Truist Financial in a report on Friday, April 17th. JPMorgan Chase & Co. dropped their price objective on shares of Truist Financial from $57.00 to $51.50 and set a “neutral” rating for the company in a report on Tuesday, April 7th. Weiss Ratings raised shares of Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. Robert W. Baird downgraded shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 price objective for the company. in a report on Friday, May 1st. Finally, Royal Bank Of Canada lifted their price objective on shares of Truist Financial from $51.00 to $53.00 and gave the stock an “outperform” rating in a report on Monday, April 20th. Nine research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $55.59.

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.