Mutual of America Capital Management LLC Sells 3,574 Shares of Truist Financial Co. (NYSE:TFC)

Mutual of America Capital Management LLC reduced its stake in shares of Truist Financial Co. (NYSE:TFC) by 2.0% in the 1st quarter, Holdings Channel reports. The firm owned 174,867 shares of the insurance provider’s stock after selling 3,574 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Truist Financial were worth $6,816,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Valmark Advisers Inc. lifted its stake in shares of Truist Financial by 2.2% in the 4th quarter. Valmark Advisers Inc. now owns 12,965 shares of the insurance provider’s stock valued at $479,000 after purchasing an additional 277 shares during the period. Whalen Wealth Management Inc. increased its stake in shares of Truist Financial by 4.8% in the 1st quarter. Whalen Wealth Management Inc. now owns 6,331 shares of the insurance provider’s stock valued at $247,000 after acquiring an additional 288 shares in the last quarter. Newbridge Financial Services Group Inc. lifted its position in shares of Truist Financial by 19.3% during the 1st quarter. Newbridge Financial Services Group Inc. now owns 1,790 shares of the insurance provider’s stock valued at $70,000 after acquiring an additional 290 shares during the period. St. Johns Investment Management Company LLC boosted its stake in Truist Financial by 0.9% during the fourth quarter. St. Johns Investment Management Company LLC now owns 32,255 shares of the insurance provider’s stock worth $1,191,000 after acquiring an additional 296 shares in the last quarter. Finally, Mechanics Financial Corp grew its holdings in Truist Financial by 7.4% in the fourth quarter. Mechanics Financial Corp now owns 4,345 shares of the insurance provider’s stock worth $160,000 after purchasing an additional 300 shares during the period. 71.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Citigroup upped their price target on Truist Financial from $42.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. JPMorgan Chase & Co. upped their target price on shares of Truist Financial from $39.50 to $40.50 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Compass Point raised shares of Truist Financial from a “neutral” rating to a “buy” rating and raised their price target for the company from $34.00 to $42.00 in a research report on Tuesday, April 23rd. Stephens upped their price objective on shares of Truist Financial from $43.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, May 16th. Finally, HSBC lifted their target price on shares of Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a research report on Wednesday, May 8th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $43.17.

Truist Financial Stock Performance

Truist Financial stock traded up $0.03 during mid-day trading on Monday, reaching $38.25. The company’s stock had a trading volume of 4,124,645 shares, compared to its average volume of 8,578,351. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.82 and a current ratio of 0.82. Truist Financial Co. has a 12-month low of $26.57 and a 12-month high of $40.51. The company has a market capitalization of $51.18 billion, a P/E ratio of -28.98, a PEG ratio of 2.00 and a beta of 1.07. The firm’s fifty day moving average price is $37.95 and its two-hundred day moving average price is $37.26.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.12. The firm had revenue of $4.87 billion during the quarter, compared to analyst estimates of $5.70 billion. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The business’s revenue for the quarter was down 8.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.09 EPS. Sell-side analysts predict that Truist Financial Co. will post 3.37 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 10th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.44%. The ex-dividend date was Thursday, May 9th. Truist Financial’s dividend payout ratio is currently -157.58%.

Truist Financial Profile

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.