Truist Financial Co. (NYSE:TFC) Shares Sold by Cramer Rosenthal Mcglynn LLC

Cramer Rosenthal Mcglynn LLC lowered its position in shares of Truist Financial Co. (NYSE:TFC) by 3.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 435,788 shares of the insurance provider’s stock after selling 16,347 shares during the period. Cramer Rosenthal Mcglynn LLC’s holdings in Truist Financial were worth $18,904,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of TFC. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Truist Financial by 48.7% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,963 shares of the insurance provider’s stock valued at $129,000 after acquiring an additional 971 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Truist Financial by 3.5% during the third quarter. Principal Financial Group Inc. now owns 1,511,299 shares of the insurance provider’s stock worth $64,638,000 after purchasing an additional 50,637 shares in the last quarter. Country Club Bank lifted its position in shares of Truist Financial by 719.8% during the 4th quarter. Country Club Bank now owns 45,499 shares of the insurance provider’s stock worth $1,973,000 after buying an additional 39,949 shares during the last quarter. David Wealth Management LLC acquired a new position in shares of Truist Financial in the 4th quarter valued at $2,354,000. Finally, Glass Wealth Management Co LLC grew its position in shares of Truist Financial by 9.5% in the 4th quarter. Glass Wealth Management Co LLC now owns 67,978 shares of the insurance provider’s stock valued at $2,949,000 after buying an additional 5,900 shares during the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Trading Down 0.3 %

NYSE:TFC opened at $35.88 on Friday. Truist Financial Co. has a 1 year low of $33.56 and a 1 year high of $49.06. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. The stock has a fifty day moving average price of $41.44 and a two-hundred day moving average price of $43.82. The stock has a market capitalization of $46.83 billion, a price-to-earnings ratio of 10.77, a PEG ratio of 1.63 and a beta of 0.91.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Thursday, April 17th. The insurance provider reported $0.87 EPS for the quarter, meeting the consensus estimate of $0.87. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The firm had revenue of $4.95 billion during the quarter, compared to analysts’ expectations of $4.99 billion. During the same quarter last year, the business earned $0.90 earnings per share. As a group, sell-side analysts anticipate 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 annualized dividend and a yield of 5.80%. The ex-dividend date was Friday, February 14th. Truist Financial’s payout ratio is currently 62.46%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Hsbc Global Res raised shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods boosted their target price on Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Tuesday, January 21st. Citigroup dropped their price target on Truist Financial from $51.00 to $44.00 and set a “neutral” rating on the stock in a research note on Monday, March 24th. JPMorgan Chase & Co. reduced their price objective on Truist Financial from $48.00 to $42.00 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. Finally, Baird R W upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Truist Financial currently has an average rating of “Moderate Buy” and an average price target of $50.22.

About Truist Financial

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.