Strs Ohio Sells 44,795 Shares of Truist Financial Corporation $TFC

Strs Ohio lessened its stake in Truist Financial Corporation (NYSE:TFC) by 5.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 807,534 shares of the insurance provider’s stock after selling 44,795 shares during the quarter. Strs Ohio owned approximately 0.07% of Truist Financial worth $37,122,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Keybank National Association OH increased its holdings in shares of Truist Financial by 16.8% during the 1st quarter. Keybank National Association OH now owns 101,237 shares of the insurance provider’s stock worth $4,654,000 after acquiring an additional 14,539 shares during the last quarter. Eagle Bluffs Wealth Management LLC lifted its holdings in Truist Financial by 3.0% during the 1st quarter. Eagle Bluffs Wealth Management LLC now owns 36,765 shares of the insurance provider’s stock valued at $1,690,000 after purchasing an additional 1,083 shares during the last quarter. Root Financial Partners LLC lifted its holdings in Truist Financial by 53.1% during the 1st quarter. Root Financial Partners LLC now owns 3,464 shares of the insurance provider’s stock valued at $159,000 after purchasing an additional 1,201 shares during the last quarter. Twin City Private Wealth LLC boosted its position in Truist Financial by 6.5% during the first quarter. Twin City Private Wealth LLC now owns 34,663 shares of the insurance provider’s stock worth $1,593,000 after purchasing an additional 2,125 shares during the period. Finally, Capital Asset Advisory Services LLC boosted its position in Truist Financial by 2.1% during the first quarter. Capital Asset Advisory Services LLC now owns 21,205 shares of the insurance provider’s stock worth $1,078,000 after purchasing an additional 441 shares during the period. 71.28% of the stock is owned by institutional investors.

Truist Financial Stock Down 0.1%

TFC stock opened at $50.95 on Friday. Truist Financial Corporation has a fifty-two week low of $40.78 and a fifty-two week high of $56.19. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market capitalization of $63.47 billion, a price-to-earnings ratio of 12.64, a PEG ratio of 0.87 and a beta of 0.89. The business’s fifty day moving average price is $49.17 and its two-hundred day moving average price is $49.40.

Truist Financial (NYSE:TFC) last announced its earnings results on Friday, April 17th. The insurance provider reported $1.09 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $5.18 billion. During the same quarter in the previous year, the business posted $0.87 earnings per share. Truist Financial’s quarterly revenue was up 5.0% on a year-over-year basis. On average, equities analysts anticipate that Truist Financial Corporation will post 4.52 earnings per share for the current year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 8th were issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.1%. Truist Financial’s payout ratio is currently 51.61%.

Wall Street Analyst Weigh In

TFC has been the topic of several research analyst reports. Royal Bank Of Canada increased their price objective on shares of Truist Financial from $51.00 to $53.00 and gave the company an “outperform” rating in a research report on Monday, April 20th. Raymond James Financial reiterated a “market perform” rating on shares of Truist Financial in a research note on Wednesday. JPMorgan Chase & Co. lowered their price target on shares of Truist Financial from $57.00 to $51.50 and set a “neutral” rating on the stock in a report on Tuesday, April 7th. Stephens initiated coverage on shares of Truist Financial in a research report on Monday, June 15th. They set an “overweight” rating and a $59.00 price objective for the company. Finally, Wall Street Zen downgraded shares of Truist Financial from a “hold” rating to a “sell” rating in a research report on Monday, June 29th. Eight equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $55.26.

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.