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

Moody National Bank Trust Division reduced its position in shares of Truist Financial Co. (NYSE:TFC) by 4.4% in the 2nd quarter, according to its most recent Form 13F 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 period. Moody National Bank Trust Division’s holdings in Truist Financial were worth $938,000 at the end of the most recent quarter.

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

Truist Financial Price Performance

NYSE:TFC traded down $0.94 during midday trading on Monday, reaching $41.18. 8,684,062 shares of the stock traded hands, compared to its average volume of 8,525,773. Truist Financial Co. has a 12-month low of $26.57 and a 12-month high of $45.31. The business has a 50-day moving average of $39.32 and a two-hundred day moving average of $38.01. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Monday, July 22nd. The insurance provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.84 by $0.07. The company had revenue of $5.02 billion for the quarter, compared to analyst estimates of $4.83 billion. Truist Financial had a negative net margin of 5.63% and a positive return on equity of 9.18%. The firm’s revenue was down 15.9% on a year-over-year basis. During the same quarter last year, the business earned $0.95 earnings per share. Equities research analysts forecast that Truist Financial Co. will post 3.55 EPS for the current year.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 5.05%. The ex-dividend date of this dividend is Friday, August 9th. Truist Financial’s dividend payout ratio is currently -157.58%.

Insider Transactions at Truist Financial

In other news, VP Cynthia B. Powell sold 6,688 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $44.14, for a total value of $295,208.32. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Truist Financial news, VP Cynthia B. Powell sold 6,688 shares of Truist Financial stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $44.14, for a total transaction of $295,208.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William H. Rogers, Jr. purchased 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 completion of the transaction, the chief executive officer now owns 569,271 shares of the company’s stock, valued at $25,025,153.16. The disclosure for this purchase can be found here. Insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. StockNews.com downgraded Truist Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, July 23rd. Keefe, Bruyette & Woods raised their target price on Truist Financial from $46.00 to $48.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. HSBC raised their target price on Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a report on Wednesday, May 8th. Robert W. Baird downgraded Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 target price on the stock. in a report on Wednesday, July 17th. Finally, Jefferies Financial Group raised their target price on Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a report on Monday, April 8th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $45.30.

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.