Truist Financial Co. (NYSE:TFC) Shares Sold by Meridian Financial Partners LLC

Meridian Financial Partners LLC decreased its holdings in shares of Truist Financial Co. (NYSE:TFC) by 8.8% during the 1st quarter, HoldingsChannel.com reports. The firm owned 6,972 shares of the insurance provider’s stock after selling 671 shares during the period. Meridian Financial Partners LLC’s holdings in Truist Financial were worth $248,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of TFC. Operose Advisors LLC purchased a new stake in shares of Truist Financial during the 3rd quarter worth approximately $31,000. O Shaughnessy Asset Management LLC boosted its stake in shares of Truist Financial by 21.1% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 35,464 shares of the insurance provider’s stock worth $1,015,000 after acquiring an additional 6,181 shares in the last quarter. Treasurer of the State of North Carolina boosted its stake in shares of Truist Financial by 0.4% during the 3rd quarter. Treasurer of the State of North Carolina now owns 599,785 shares of the insurance provider’s stock worth $17,160,000 after acquiring an additional 2,180 shares in the last quarter. Qube Research & Technologies Ltd boosted its stake in shares of Truist Financial by 37.8% during the 3rd quarter. Qube Research & Technologies Ltd now owns 2,700,400 shares of the insurance provider’s stock worth $77,258,000 after acquiring an additional 740,722 shares in the last quarter. Finally, Staley Capital Advisers Inc. boosted its stake in shares of Truist Financial by 16.3% during the 3rd quarter. Staley Capital Advisers Inc. now owns 21,509 shares of the insurance provider’s stock worth $615,000 after acquiring an additional 3,009 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on TFC shares. UBS Group boosted their price target on Truist Financial from $45.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. HSBC upped their target price on Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a research note on Wednesday, May 8th. Evercore ISI reaffirmed an “in-line” rating and issued a $44.00 target price on shares of Truist Financial in a research note on Thursday, May 9th. Citigroup upped their target price on Truist Financial from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Finally, StockNews.com lowered Truist Financial from a “hold” rating to a “sell” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat, Truist Financial currently has a consensus rating of “Moderate Buy” and an average target price of $43.17.

Truist Financial Trading Up 2.7 %

Shares of TFC stock traded up $1.01 on Friday, reaching $38.85. 9,600,184 shares of the stock were exchanged, compared to its average volume of 7,012,324. The stock has a market cap of $51.99 billion, a P/E ratio of -29.43, a price-to-earnings-growth ratio of 1.99 and a beta of 1.06. 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 firm has a 50 day moving average of $37.89 and a two-hundred day moving average of $37.15. Truist Financial Co. has a 1-year low of $26.57 and a 1-year high of $40.51.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.12. The business had revenue of $4.87 billion during the quarter, compared to the consensus estimate of $5.70 billion. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The business’s revenue for the quarter was down 8.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.09 EPS. On average, research analysts anticipate that Truist Financial Co. will post 3.36 EPS for the current year.

Truist Financial Dividend Announcement

The company 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. The ex-dividend date was Thursday, May 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.35%. Truist Financial’s payout ratio is -157.58%.

Truist Financial Company 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.