Susquehanna Fundamental Investments LLC Decreases Stake in Truist Financial Corporation $TFC

Susquehanna Fundamental Investments LLC decreased its holdings in Truist Financial Corporation (NYSE:TFC) by 7.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 1,060,545 shares of the insurance provider’s stock after selling 87,592 shares during the period. Truist Financial makes up about 1.0% of Susquehanna Fundamental Investments LLC’s investment portfolio, making the stock its 19th largest position. Susquehanna Fundamental Investments LLC’s holdings in Truist Financial were worth $52,836,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Brighton Jones LLC grew its stake in Truist Financial by 148.5% during the fourth quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider’s stock worth $1,023,000 after buying an additional 14,093 shares during the period. Woodline Partners LP raised its stake in shares of Truist Financial by 39.5% in the 1st quarter. Woodline Partners LP now owns 111,177 shares of the insurance provider’s stock valued at $4,575,000 after acquiring an additional 31,454 shares during the period. Sivia Capital Partners LLC acquired a new position in shares of Truist Financial during the 2nd quarter valued at $575,000. AXA S.A. lifted its holdings in shares of Truist Financial by 23.1% during the 2nd quarter. AXA S.A. now owns 26,192 shares of the insurance provider’s stock valued at $1,126,000 after acquiring an additional 4,921 shares in the last quarter. Finally, Main Street Financial Solutions LLC boosted its position in Truist Financial by 20.1% during the 2nd quarter. Main Street Financial Solutions LLC now owns 6,783 shares of the insurance provider’s stock worth $292,000 after purchasing an additional 1,134 shares during the period. 71.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TFC has been the topic of several research reports. Wall Street Zen raised Truist Financial from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Evercore restated an “outperform” rating and issued a $57.00 price target on shares of Truist Financial in a report on Monday, July 6th. JPMorgan Chase & Co. lifted their price objective on shares of Truist Financial from $53.00 to $54.00 and gave the company an “underweight” rating in a research note on Wednesday, July 29th. UBS Group cut shares of Truist Financial from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $58.00 to $55.00 in a research report on Tuesday, July 7th. Finally, Bank of America reaffirmed a “neutral” rating and set a $56.00 price target (up from $54.00) on shares of Truist Financial in a report on Wednesday, July 8th. Seven equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $55.12.

Insider Buying and Selling

In other Truist Financial news, insider Donta L. Wilson sold 13,280 shares of Truist Financial stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $51.85, for a total value of $688,568.00. Following the completion of the sale, the insider owned 56,009 shares in the company, valued at $2,904,066.65. The trade was a 19.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director K. David Jr. Boyer sold 3,986 shares of the business’s stock in a transaction dated Thursday, July 23rd. The shares were sold at an average price of $50.70, for a total transaction of $202,090.20. Following the completion of the sale, the director directly owned 10,270 shares of the company’s stock, valued at $520,689. This represents a 27.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 30,516 shares of company stock valued at $1,584,428. 0.15% of the stock is owned by company insiders.

Truist Financial Stock Up 0.1%

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

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

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be paid 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 dividend payout ratio is 47.71%.

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.