Entropy Technologies LP Sells 16,415 Shares of Truist Financial Corporation $TFC

Entropy Technologies LP trimmed its stake in shares of Truist Financial Corporation (NYSE:TFC) by 7.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 200,623 shares of the insurance provider’s stock after selling 16,415 shares during the period. Entropy Technologies LP’s holdings in Truist Financial were worth $9,223,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Truist Financial by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 119,740,969 shares of the insurance provider’s stock valued at $5,892,453,000 after purchasing an additional 701,049 shares during the period. Capital International Investors boosted its position in shares of Truist Financial by 0.7% during the fourth quarter. Capital International Investors now owns 108,358,164 shares of the insurance provider’s stock worth $5,332,835,000 after buying an additional 715,433 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Truist Financial by 7.5% during the fourth quarter. Victory Capital Management Inc. now owns 31,964,393 shares of the insurance provider’s stock worth $1,572,968,000 after buying an additional 2,226,288 shares in the last quarter. Morgan Stanley grew its holdings in shares of Truist Financial by 2.9% during the fourth quarter. Morgan Stanley now owns 20,931,279 shares of the insurance provider’s stock worth $1,030,028,000 after buying an additional 597,255 shares in the last quarter. Finally, Auto Owners Insurance Co raised its position in Truist Financial by 4,821.0% in the 4th quarter. Auto Owners Insurance Co now owns 14,172,480 shares of the insurance provider’s stock valued at $697,428,000 after buying an additional 13,884,480 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Truist Financial Trading Up 1.1%

Shares of Truist Financial stock opened at $51.75 on Friday. The stock has a market cap of $64.48 billion, a P/E ratio of 11.87, a P/E/G ratio of 0.93 and a beta of 0.89. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.73. Truist Financial Corporation has a 12-month low of $40.78 and a 12-month high of $56.19. The business’s 50 day moving average is $49.81 and its 200-day moving average is $49.56.

Truist Financial (NYSE:TFC) last released its earnings results on Friday, July 17th. The insurance provider reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.15. The business had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $5.24 billion. Truist Financial had a net margin of 19.13% and a return on equity of 10.06%. The firm’s revenue was up 5.6% on a year-over-year basis. During the same period last year, the business earned $0.91 earnings per share. Equities research analysts predict that Truist Financial Corporation will post 4.59 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 8th were paid a $0.52 dividend. The ex-dividend date was Friday, May 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.0%. Truist Financial’s dividend payout ratio (DPR) is currently 47.71%.

Analyst Ratings Changes

Several research firms have commented on TFC. Jefferies Financial Group restated a “mixed” rating and issued a $45.00 target price on shares of Truist Financial in a research note on Friday, April 17th. 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 research note on Wednesday, July 8th. Morgan Stanley reiterated an “equal weight” rating and issued a $54.00 price objective (down from $62.00) on shares of Truist Financial in a report on Monday, July 6th. Evercore restated an “outperform” rating and set a $57.00 target price on shares of Truist Financial in a report on Monday, July 6th. Finally, Weiss Ratings upgraded shares of Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. Seven investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Truist Financial presently has an average rating of “Hold” and a consensus price target of $54.61.

Truist Financial 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.