Truist Financial Co. (NYSE:TFC) Shares Sold by Leisure Capital Management

Leisure Capital Management decreased its position in Truist Financial Co. (NYSE:TFC) by 25.3% in the 4th quarter, Holdings Channel reports. The fund owned 16,818 shares of the insurance provider’s stock after selling 5,684 shares during the period. Leisure Capital Management’s holdings in Truist Financial were worth $621,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Truist Financial by 0.3% in the third quarter. Vanguard Group Inc. now owns 117,271,628 shares of the insurance provider’s stock valued at $3,355,141,000 after acquiring an additional 365,871 shares in the last quarter. Royal Bank of Canada grew its position in Truist Financial by 5.0% in the third quarter. Royal Bank of Canada now owns 15,384,890 shares of the insurance provider’s stock valued at $440,162,000 after acquiring an additional 732,801 shares in the last quarter. Morgan Stanley grew its position in Truist Financial by 0.3% in the third quarter. Morgan Stanley now owns 15,364,138 shares of the insurance provider’s stock valued at $439,568,000 after acquiring an additional 39,510 shares in the last quarter. Truist Financial Corp grew its position in Truist Financial by 0.5% in the third quarter. Truist Financial Corp now owns 5,197,904 shares of the insurance provider’s stock valued at $148,712,000 after acquiring an additional 26,972 shares in the last quarter. Finally, Jennison Associates LLC grew its position in Truist Financial by 45.1% in the third quarter. Jennison Associates LLC now owns 3,673,609 shares of the insurance provider’s stock valued at $105,102,000 after acquiring an additional 1,141,944 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on TFC shares. UBS Group increased their price objective on shares of Truist Financial from $45.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, April 5th. TheStreet downgraded shares of Truist Financial from a “b-” rating to a “c” rating in a research report on Tuesday, February 20th. Morgan Stanley reissued an “equal weight” rating and set a $43.00 price target on shares of Truist Financial in a research report on Monday, April 22nd. StockNews.com downgraded shares of Truist Financial from a “hold” rating to a “sell” rating in a research report on Thursday, March 28th. Finally, Jefferies Financial Group raised their price target on shares of Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.97.

Insider Activity at Truist Financial

In related news, Director K. David Jr. Boyer sold 3,764 shares of Truist Financial stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $37.48, for a total transaction of $141,074.72. Following the sale, the director now directly owns 16,132 shares in the company, valued at $604,627.36. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.17% of the company’s stock.

Truist Financial Stock Performance

TFC stock traded up $0.20 during mid-day trading on Friday, reaching $38.17. The company had a trading volume of 4,651,351 shares, compared to its average volume of 8,494,242. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $50.94 billion, a P/E ratio of -28.92, a P/E/G ratio of 2.00 and a beta of 1.08. Truist Financial Co. has a one year low of $25.56 and a one year high of $39.29. The stock’s 50-day simple moving average is $36.90 and its two-hundred day simple moving average is $34.82.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.12. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The business had revenue of $4.87 billion for the quarter, compared to analysts’ expectations of $5.70 billion. During the same period in the previous year, the business earned $1.09 earnings per share. The company’s revenue was down 8.8% on a year-over-year basis. Research analysts anticipate that Truist Financial Co. will post 3.27 EPS for the current year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 10th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.45%. The ex-dividend date is Thursday, May 9th. Truist Financial’s dividend payout ratio is currently -157.58%.

About Truist Financial

Truist Financial Corporation, a financial services company, provides banking and trust services in the Southeastern and Mid-Atlantic United States. The company operates through three segments: Consumer Banking and Wealth, Corporate and Commercial Banking, and Insurance Holdings. Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.