National Bank of Canada FI Sells 1,193,186 Shares of Truist Financial Co. (NYSE:TFC)

National Bank of Canada FI lessened its stake in Truist Financial Co. (NYSE:TFC) by 59.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 821,705 shares of the insurance provider’s stock after selling 1,193,186 shares during the quarter. National Bank of Canada FI’s holdings in Truist Financial were worth $35,144,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Valley Wealth Managers Inc. bought a new position in shares of Truist Financial in the third quarter worth approximately $26,000. MidAtlantic Capital Management Inc. purchased a new position in Truist Financial in the 3rd quarter worth approximately $32,000. MFA Wealth Advisors LLC bought a new position in Truist Financial in the 2nd quarter valued at approximately $30,000. Y.D. More Investments Ltd purchased a new stake in Truist Financial during the 2nd quarter valued at $31,000. Finally, Fortitude Family Office LLC increased its holdings in shares of Truist Financial by 376.7% in the 3rd quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 678 shares in the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TFC has been the topic of a number of research analyst reports. Royal Bank of Canada increased their price objective on Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. The Goldman Sachs Group raised their price target on shares of Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Stephens reissued an “overweight” rating and set a $50.00 price objective on shares of Truist Financial in a report on Tuesday, September 10th. Keefe, Bruyette & Woods raised their target price on shares of Truist Financial from $48.00 to $49.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Finally, StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Twelve analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Truist Financial currently has an average rating of “Hold” and an average price target of $47.67.

Insider Transactions at Truist Financial

In related news, CEO William H. Rogers, Jr. purchased 34,180 shares of Truist Financial stock in a transaction on Monday, November 25th. The shares were bought at an average cost of $48.56 per share, for a total transaction of $1,659,780.80. Following the acquisition, the chief executive officer now owns 691,451 shares in the company, valued at approximately $33,576,860.56. The trade was a 5.20 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director K. David Jr. Boyer sold 4,966 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total transaction of $229,429.20. Following the transaction, the director now directly owns 11,246 shares of the company’s stock, valued at $519,565.20. This trade represents a 30.63 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.17% of the company’s stock.

Truist Financial Trading Up 0.2 %

Shares of Truist Financial stock opened at $47.26 on Monday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62. The company has a fifty day moving average of $44.70 and a 200 day moving average of $42.09. Truist Financial Co. has a fifty-two week low of $33.36 and a fifty-two week high of $49.06.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.08. The firm had revenue of $5.09 billion during the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. On average, equities analysts forecast that Truist Financial Co. will post 3.7 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 8th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.40%. The ex-dividend date was Friday, November 8th. Truist Financial’s payout ratio is currently -145.45%.

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.