Yousif Capital Management LLC Has $7.66 Million Stock Holdings in Truist Financial Corporation $TFC

Yousif Capital Management LLC trimmed its position in shares of Truist Financial Corporation (NYSE:TFC) by 6.8% during the third quarter, HoldingsChannel reports. The firm owned 167,621 shares of the insurance provider’s stock after selling 12,138 shares during the quarter. Yousif Capital Management LLC’s holdings in Truist Financial were worth $7,664,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Wealth Preservation Advisors LLC acquired a new stake in Truist Financial during the 1st quarter worth $25,000. Aspect Partners LLC increased its holdings in shares of Truist Financial by 71.5% in the second quarter. Aspect Partners LLC now owns 643 shares of the insurance provider’s stock worth $28,000 after acquiring an additional 268 shares in the last quarter. Princeton Global Asset Management LLC acquired a new stake in shares of Truist Financial during the second quarter worth about $30,000. Capital A Wealth Management LLC raised its position in shares of Truist Financial by 1,189.5% during the second quarter. Capital A Wealth Management LLC now owns 735 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 678 shares during the period. Finally, Ramirez Asset Management Inc. lifted its holdings in shares of Truist Financial by 60.0% during the 2nd quarter. Ramirez Asset Management Inc. now owns 800 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 300 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Analyst Upgrades and Downgrades

TFC has been the subject of a number of research reports. Baird R W cut Truist Financial from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 11th. Piper Sandler set a $48.00 price target on shares of Truist Financial in a report on Monday, October 20th. Keefe, Bruyette & Woods increased their price objective on shares of Truist Financial from $49.00 to $53.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 17th. TD Cowen upgraded shares of Truist Financial from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a report on Tuesday, October 21st. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $52.00 price objective on shares of Truist Financial in a research report on Thursday, December 11th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $49.93.

Insider Activity at Truist Financial

In related news, Director K. David Jr. Boyer sold 5,160 shares of the firm’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $46.45, for a total value of $239,682.00. Following the completion of the transaction, the director directly owned 10,153 shares of the company’s stock, valued at approximately $471,606.85. This trade represents a 33.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.14% of the company’s stock.

Truist Financial Stock Down 0.1%

Shares of TFC stock opened at $50.52 on Wednesday. The firm’s fifty day moving average price is $45.98 and its two-hundred day moving average price is $44.87. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70. Truist Financial Corporation has a 1 year low of $33.56 and a 1 year high of $50.86. The firm has a market capitalization of $64.63 billion, a P/E ratio of 13.58, a PEG ratio of 1.09 and a beta of 0.90.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Friday, October 17th. The insurance provider reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.05. Truist Financial had a return on equity of 8.73% and a net margin of 16.84%.The company had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.20 billion. During the same quarter last year, the company earned $0.97 EPS. Truist Financial’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, equities analysts predict that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Friday, November 14th were paid a dividend of $0.52 per share. The ex-dividend date was Friday, November 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.1%. Truist Financial’s dividend payout ratio is currently 55.91%.

Truist Financial declared that its Board of Directors has approved a share repurchase plan on Tuesday, December 16th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the insurance provider to buy up to 15.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Truist Financial Profile

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.