Truist Financial Co. (NYSE:TFC) Holdings Cut by Quantbot Technologies LP

Quantbot Technologies LP cut its stake in shares of Truist Financial Co. (NYSE:TFC) by 90.7% in the 4th quarter, Holdings Channel reports. The firm owned 13,301 shares of the insurance provider’s stock after selling 129,286 shares during the quarter. Quantbot Technologies LP’s holdings in Truist Financial were worth $577,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Bangor Savings Bank boosted its position in Truist Financial by 92.5% during the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 272 shares during the period. Hopwood Financial Services Inc. bought a new stake in Truist Financial in the fourth quarter valued at $26,000. Curio Wealth LLC acquired a new position in shares of Truist Financial during the fourth quarter valued at $45,000. City State Bank grew its position in shares of Truist Financial by 158.1% during the fourth quarter. City State Bank now owns 1,169 shares of the insurance provider’s stock worth $51,000 after acquiring an additional 716 shares during the last quarter. Finally, True Wealth Design LLC acquired a new stake in shares of Truist Financial in the 3rd quarter worth about $51,000. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TFC has been the subject of a number of analyst reports. Robert W. Baird raised shares of Truist Financial from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $48.00 to $52.00 in a research note on Wednesday, March 5th. StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, January 17th. Citigroup cut their target price on Truist Financial from $51.00 to $44.00 and set a “neutral” rating on the stock in a research note on Monday. HSBC upgraded Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research report on Tuesday, January 7th. Finally, Baird R W upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Nine equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $50.79.

Truist Financial Stock Performance

Shares of NYSE TFC opened at $41.42 on Friday. Truist Financial Co. has a 52-week low of $35.09 and a 52-week high of $49.06. The stock has a market capitalization of $54.07 billion, a price-to-earnings ratio of 12.44, a PEG ratio of 1.63 and a beta of 1.08. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. The stock’s fifty day simple moving average is $44.93 and its 200 day simple moving average is $44.41.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.03. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The firm had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.05 billion. During the same quarter in the previous year, the company earned $0.81 EPS. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 5.02%. The ex-dividend date was Friday, February 14th. Truist Financial’s dividend payout ratio is 62.46%.

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.