Interval Partners LP Sells 19,973 Shares of Truist Financial Corporation $TFC

Interval Partners LP reduced its stake in Truist Financial Corporation (NYSE:TFC) by 7.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 237,375 shares of the insurance provider’s stock after selling 19,973 shares during the period. Interval Partners LP’s holdings in Truist Financial were worth $10,853,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Truist Financial by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 120,440,153 shares of the insurance provider’s stock valued at $5,177,722,000 after buying an additional 1,529,478 shares during the last quarter. Capital International Investors lifted its position in Truist Financial by 0.3% during the third quarter. Capital International Investors now owns 107,642,731 shares of the insurance provider’s stock worth $4,921,717,000 after acquiring an additional 346,423 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Truist Financial by 0.9% during the second quarter. Charles Schwab Investment Management Inc. now owns 17,566,519 shares of the insurance provider’s stock worth $755,185,000 after acquiring an additional 164,034 shares during the period. Invesco Ltd. boosted its holdings in shares of Truist Financial by 6.5% during the second quarter. Invesco Ltd. now owns 13,995,108 shares of the insurance provider’s stock worth $601,650,000 after acquiring an additional 854,826 shares during the period. Finally, American Century Companies Inc. grew its position in shares of Truist Financial by 6.6% in the second quarter. American Century Companies Inc. now owns 12,834,800 shares of the insurance provider’s stock valued at $551,768,000 after purchasing an additional 793,276 shares during the last quarter. 71.28% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CAO Cynthia B. Powell sold 3,500 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $52.49, for a total value of $183,715.00. Following the transaction, the chief accounting officer owned 667 shares in the company, valued at approximately $35,010.83. This trade represents a 83.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Michael Baron Maguire sold 13,000 shares of the business’s stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $50.13, for a total value of $651,690.00. Following the completion of the transaction, the chief financial officer directly owned 74,323 shares of the company’s stock, valued at approximately $3,725,811.99. This trade represents a 14.89% decrease in their position. The SEC filing for this sale provides additional information. 0.17% of the stock is currently owned by company insiders.

Truist Financial Stock Down 1.3%

NYSE TFC opened at $43.82 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70. The company has a market cap of $54.73 billion, a price-to-earnings ratio of 11.50, a PEG ratio of 0.75 and a beta of 0.87. The company has a 50 day moving average of $50.60 and a 200-day moving average of $47.69. Truist Financial Corporation has a 1-year low of $33.56 and a 1-year high of $56.19.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Wednesday, January 21st. The insurance provider reported $1.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.09). Truist Financial had a return on equity of 9.03% and a net margin of 17.09%.The company had revenue of $4.93 billion for the quarter, compared to analyst estimates of $5.32 billion. During the same period in the prior year, the company earned $0.91 EPS. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. On average, equities research analysts expect that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial announced that its Board of Directors has authorized a share buyback program on Tuesday, December 16th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the insurance provider to reacquire up to 15.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Friday, February 13th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend was Friday, February 13th. Truist Financial’s dividend payout ratio is 54.59%.

Analyst Upgrades and Downgrades

TFC has been the topic of a number of recent research reports. Raymond James Financial increased their target price on Truist Financial from $50.00 to $56.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 7th. Barclays lowered 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 report on Monday, January 5th. TD Cowen increased their price objective on Truist Financial from $59.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Argus lifted their target price on Truist Financial from $54.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, January 23rd. Finally, Keefe, Bruyette & Woods lifted their target price on Truist Financial from $49.00 to $53.00 and gave the stock a “market perform” rating in a report on Wednesday, December 17th. Nine research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $56.47.

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.