Yousif Capital Management LLC Trims Position in Truist Financial Co. (NYSE:TFC)

Yousif Capital Management LLC lessened its stake in shares of Truist Financial Co. (NYSE:TFC) by 4.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 196,915 shares of the insurance provider’s stock after selling 8,435 shares during the quarter. Yousif Capital Management LLC’s holdings in Truist Financial were worth $7,270,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Bleakley Financial Group LLC boosted its position in shares of Truist Financial by 6.1% during the 4th quarter. Bleakley Financial Group LLC now owns 29,890 shares of the insurance provider’s stock valued at $1,104,000 after acquiring an additional 1,731 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Truist Financial by 53.1% in 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 buying an additional 117,524 shares in the last quarter. International Assets Investment Management LLC boosted its stake in Truist Financial by 3,359.6% in the fourth quarter. International Assets Investment Management LLC now owns 1,045,560 shares of the insurance provider’s stock worth $38,602,000 after buying an additional 1,015,338 shares in the last quarter. Loudon Investment Management LLC boosted its stake in Truist Financial by 18.5% in the third quarter. Loudon Investment Management LLC now owns 131,398 shares of the insurance provider’s stock worth $3,759,000 after buying an additional 20,490 shares in the last quarter. Finally, Pathstone Family Office LLC boosted its stake in Truist Financial by 84.8% in the third quarter. Pathstone Family Office LLC now owns 97,317 shares of the insurance provider’s stock worth $2,786,000 after buying an additional 44,659 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Compass Point raised Truist Financial from a “neutral” rating to a “buy” rating and increased their price objective for the company from $34.00 to $42.00 in a research note on Tuesday. Morgan Stanley reissued an “equal weight” rating and set a $43.00 price objective on shares of Truist Financial in a research note on Monday. TheStreet lowered Truist Financial from a “b-” rating to a “c” rating in a research note on Tuesday, February 20th. Stephens reaffirmed an “overweight” rating and issued a $43.00 price target on shares of Truist Financial in a research note on Tuesday. Finally, Keefe, Bruyette & Woods raised their price target on Truist Financial from $44.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, April 5th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $41.97.

Truist Financial Price Performance

Shares of NYSE:TFC opened at $38.00 on Thursday. Truist Financial Co. has a 1-year low of $25.56 and a 1-year high of $39.29. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.82 and a quick ratio of 0.82. The business has a fifty day moving average price of $36.83 and a 200-day moving average price of $34.73. The company has a market capitalization of $50.71 billion, a PE ratio of -29.39, a PEG ratio of 2.45 and a beta of 1.08.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.12. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The firm had revenue of $4.87 billion during the quarter, compared to the consensus estimate of $5.70 billion. During the same period last year, the company earned $1.09 earnings per share. The company’s revenue was down 8.8% on a year-over-year basis. As a group, equities analysts expect that Truist Financial Co. will post 3.26 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 10th will be given a dividend of $0.52 per share. The ex-dividend date is Thursday, May 9th. This represents a $2.08 annualized dividend and a dividend yield of 5.47%. Truist Financial’s dividend payout ratio (DPR) is presently -157.58%.

Insider Activity at Truist Financial

In related news, Director K. David Jr. Boyer sold 3,764 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $37.48, for a total transaction of $141,074.72. Following the sale, the director now directly owns 16,132 shares of the company’s stock, valued at $604,627.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.17% of the stock is currently owned by insiders.

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.