Truist Financial Corporation $TFC Shares Sold by Ieq Capital LLC

Ieq Capital LLC reduced its position in shares of Truist Financial Corporation (NYSE:TFC) by 95.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,543 shares of the insurance provider’s stock after selling 91,768 shares during the period. Ieq Capital LLC’s holdings in Truist Financial were worth $226,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. 3Chopt Investment Partners LLC increased its position in Truist Financial by 1.3% during the 4th quarter. 3Chopt Investment Partners LLC now owns 14,713 shares of the insurance provider’s stock worth $724,000 after purchasing an additional 193 shares during the period. IFP Advisors Inc raised its stake in shares of Truist Financial by 2.4% during the 4th quarter. IFP Advisors Inc now owns 8,205 shares of the insurance provider’s stock worth $404,000 after buying an additional 194 shares in the last quarter. PCB Capital LLC lifted its holdings in shares of Truist Financial by 3.0% in the 1st quarter. PCB Capital LLC now owns 6,744 shares of the insurance provider’s stock valued at $310,000 after buying an additional 198 shares during the period. AlphaCore Capital LLC lifted its holdings in shares of Truist Financial by 8.3% in the 4th quarter. AlphaCore Capital LLC now owns 2,609 shares of the insurance provider’s stock valued at $128,000 after buying an additional 199 shares during the period. Finally, CYBER HORNET ETFs LLC boosted its stake in shares of Truist Financial by 5.5% in the fourth quarter. CYBER HORNET ETFs LLC now owns 3,820 shares of the insurance provider’s stock valued at $188,000 after buying an additional 199 shares in the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Truist Financial

In other Truist Financial news, CEO William H. Rogers, Jr. sold 13,250 shares of the company’s stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $52.36, for a total value of $693,770.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Donta L. Wilson sold 13,280 shares of the company’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $51.85, for a total transaction of $688,568.00. Following the completion of the sale, the insider directly owned 56,009 shares in the company, valued at $2,904,066.65. This trade represents a 19.17% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 30,516 shares of company stock valued at $1,584,428. Insiders own 0.15% of the company’s stock.

Truist Financial Stock Performance

NYSE TFC opened at $50.46 on Monday. The business has a 50 day moving average price of $51.47 and a 200 day moving average price of $49.64. The company has a market capitalization of $61.64 billion, a P/E ratio of 11.57, a PEG ratio of 1.06 and a beta of 0.89. Truist Financial Corporation has a 1-year low of $40.78 and a 1-year high of $56.19. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.86 and a quick ratio of 0.86.

Truist Financial (NYSE:TFC) last posted its earnings results on Friday, July 17th. The insurance provider reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.15. Truist Financial had a return on equity of 10.06% and a net margin of 19.13%.The company had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.24 billion. During the same period in the previous year, the business earned $0.91 earnings per share. Truist Financial’s quarterly revenue was up 5.6% compared to the same quarter last year. Sell-side analysts expect that Truist Financial Corporation will post 4.58 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be given a $0.52 dividend. The ex-dividend date is Friday, August 14th. This represents a $2.08 annualized dividend and a dividend yield of 4.1%. Truist Financial’s payout ratio is currently 47.71%.

Analyst Ratings Changes

TFC has been the subject of several research analyst reports. Evercore reiterated an “outperform” rating and issued a $57.00 price objective on shares of Truist Financial in a research report on Monday, July 6th. Bank of America reissued a “neutral” rating and issued a $56.00 target price (up from $54.00) on shares of Truist Financial in a report on Wednesday, July 8th. Morgan Stanley restated an “equal weight” rating and set a $54.00 target price (down from $62.00) on shares of Truist Financial in a research report on Monday, July 6th. Citigroup cut shares of Truist Financial from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $63.00 to $54.00 in a research note on Tuesday, June 30th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Truist Financial in a report on Wednesday, July 29th. Seven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $55.12.

Truist Financial Company Profile

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.