Oppenheimer Asset Management Inc. Sells 15,602 Shares of Truist Financial Corporation $TFC

Oppenheimer Asset Management Inc. trimmed its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 3.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 406,207 shares of the insurance provider’s stock after selling 15,602 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Truist Financial were worth $19,989,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TFC. Valley Wealth Managers Inc. bought a new position in shares of Truist Financial during the 3rd quarter worth about $28,000. Ancora Advisors LLC lifted its holdings in shares of Truist Financial by 259.1% during the 3rd quarter. Ancora Advisors LLC now owns 693 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 500 shares during the period. Maseco LLP lifted its holdings in shares of Truist Financial by 53.8% during the 4th quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 228 shares during the period. Mowery & Schoenfeld Wealth Management LLC lifted its holdings in shares of Truist Financial by 190.7% during the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 657 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 431 shares during the period. Finally, Steigerwald Gordon & Koch Inc. bought a new position in Truist Financial during the 3rd quarter valued at about $41,000. 71.28% of the stock is owned by institutional investors.

Insider Activity at Truist Financial

In other news, CAO Cynthia B. Powell sold 3,500 shares of Truist Financial stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $52.49, for a total transaction of $183,715.00. Following the completion of the sale, the chief accounting officer owned 667 shares in the company, valued at $35,010.83. The trade was a 83.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.15% of the stock is currently owned by corporate insiders.

Truist Financial Trading Up 1.7%

Shares of NYSE TFC opened at $51.53 on Friday. Truist Financial Corporation has a 1-year low of $38.16 and a 1-year high of $56.19. The company has a market cap of $63.95 billion, a PE ratio of 12.79, a P/E/G ratio of 0.87 and a beta of 0.89. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70. The company has a 50-day moving average of $48.10 and a two-hundred day moving average of $48.24.

Truist Financial (NYSE:TFC) last announced its earnings results on Friday, April 17th. The insurance provider reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.09. Truist Financial had a net margin of 18.14% and a return on equity of 9.55%. The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.18 billion. During the same period in the previous year, the firm posted $0.87 earnings per share. The company’s revenue was up 5.0% on a year-over-year basis. As a group, equities analysts expect that Truist Financial Corporation will post 4.52 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 8th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, May 8th. This represents a $2.08 annualized dividend and a dividend yield of 4.0%. Truist Financial’s payout ratio is currently 51.61%.

Wall Street Analyst Weigh In

TFC has been the subject of several analyst reports. Jefferies Financial Group reissued a “mixed” rating and set a $45.00 price target on shares of Truist Financial in a report on Friday, April 17th. Weiss Ratings raised shares of Truist Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, April 17th. JPMorgan Chase & Co. cut their price target on shares of Truist Financial from $57.00 to $51.50 and set a “neutral” rating for the company in a report on Tuesday, April 7th. TD Cowen lifted their price target on shares of Truist Financial from $59.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Finally, Evercore reissued an “outperform” rating on shares of Truist Financial in a report on Thursday, February 5th. Ten investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Truist Financial has a consensus rating of “Moderate Buy” and a consensus target price of $55.41.

About Truist Financial

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.