Moody National Bank Trust Division Has $938,000 Stake in Truist Financial Co. (NYSE:TFC)

Moody National Bank Trust Division decreased its position in Truist Financial Co. (NYSE:TFC) by 4.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,141 shares of the insurance provider’s stock after selling 1,111 shares during the quarter. Moody National Bank Trust Division’s holdings in Truist Financial were worth $938,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Bleakley Financial Group LLC grew its holdings in Truist Financial by 6.1% during the fourth quarter. Bleakley Financial Group LLC now owns 29,890 shares of the insurance provider’s stock worth $1,104,000 after purchasing an additional 1,731 shares during the period. Natixis Advisors L.P. raised its position in Truist Financial by 30.9% during the fourth quarter. Natixis Advisors L.P. now owns 373,375 shares of the insurance provider’s stock valued at $13,783,000 after purchasing an additional 88,035 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Truist Financial by 53.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 338,972 shares of the insurance provider’s stock valued at $12,515,000 after purchasing an additional 117,524 shares in the last quarter. Parnassus Investments LLC acquired a new position in shares of Truist Financial during the fourth quarter worth $95,049,000. Finally, Rafferty Asset Management LLC increased its holdings in shares of Truist Financial by 47.7% during the fourth quarter. Rafferty Asset Management LLC now owns 1,185,259 shares of the insurance provider’s stock worth $43,760,000 after buying an additional 382,976 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Down 2.2 %

Shares of NYSE:TFC traded down $0.94 during mid-day trading on Monday, reaching $41.18. The stock had a trading volume of 8,684,062 shares, compared to its average volume of 8,525,773. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.86 and a quick ratio of 0.86. Truist Financial Co. has a 1 year low of $26.57 and a 1 year high of $45.31. The business’s 50 day moving average price is $39.32 and its 200 day moving average price is $38.01.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Monday, July 22nd. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.07. The business had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $4.83 billion. Truist Financial had a positive return on equity of 9.18% and a negative net margin of 5.63%. The company’s quarterly revenue was down 15.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.95 earnings per share. Sell-side analysts expect that Truist Financial Co. will post 3.55 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 5.05%. Truist Financial’s dividend payout ratio (DPR) is presently -157.58%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Jefferies Financial Group increased their price target on Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a report on Monday, April 8th. Baird R W downgraded Truist Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Evercore ISI reiterated an “in-line” rating and issued a $44.00 target price on shares of Truist Financial in a report on Thursday, May 9th. HSBC lifted their target price on Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a report on Wednesday, May 8th. Finally, Compass Point upgraded Truist Financial from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $34.00 to $42.00 in a report on Tuesday, April 23rd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Truist Financial currently has a consensus rating of “Hold” and an average target price of $45.30.

Insider Buying and Selling at Truist Financial

In related news, CEO William H. Rogers, Jr. bought 57,300 shares of the company’s stock in a transaction on Tuesday, July 23rd. The shares were bought at an average price of $43.96 per share, with a total value of $2,518,908.00. Following the transaction, the chief executive officer now owns 569,271 shares in the company, valued at $25,025,153.16. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Truist Financial news, CEO William H. Rogers, Jr. bought 57,300 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were purchased at an average cost of $43.96 per share, for a total transaction of $2,518,908.00. Following the transaction, the chief executive officer now directly owns 569,271 shares of the company’s stock, valued at $25,025,153.16. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Cynthia B. Powell sold 6,688 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $44.14, for a total value of $295,208.32. The disclosure for this sale can be found here. Insiders own 0.17% of the company’s stock.

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.