Invesco LLC Sells 1,024 Shares of Truist Financial Co. (NYSE:TFC)

Invesco LLC reduced its position in shares of Truist Financial Co. (NYSE:TFC) by 14.9% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,862 shares of the insurance provider’s stock after selling 1,024 shares during the quarter. Invesco LLC’s holdings in Truist Financial were worth $229,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Valmark Advisers Inc. increased its stake in Truist Financial by 2.2% during the 4th quarter. Valmark Advisers Inc. now owns 12,965 shares of the insurance provider’s stock valued at $479,000 after purchasing an additional 277 shares in the last quarter. Texas Yale Capital Corp. increased its stake in Truist Financial by 2.4% during the 1st quarter. Texas Yale Capital Corp. now owns 12,118 shares of the insurance provider’s stock valued at $472,000 after purchasing an additional 280 shares in the last quarter. Whalen Wealth Management Inc. increased its stake in Truist Financial by 4.8% during the 1st quarter. Whalen Wealth Management Inc. now owns 6,331 shares of the insurance provider’s stock valued at $247,000 after purchasing an additional 288 shares in the last quarter. Newbridge Financial Services Group Inc. increased its stake in Truist Financial by 19.3% during the 1st quarter. Newbridge Financial Services Group Inc. now owns 1,790 shares of the insurance provider’s stock valued at $70,000 after purchasing an additional 290 shares in the last quarter. Finally, St. Johns Investment Management Company LLC increased its stake in Truist Financial by 0.9% during the 4th quarter. St. Johns Investment Management Company LLC now owns 32,255 shares of the insurance provider’s stock valued at $1,191,000 after purchasing an additional 296 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Price Performance

TFC traded up $0.40 during trading hours on Tuesday, hitting $44.18. The company’s stock had a trading volume of 7,182,572 shares, compared to its average volume of 8,540,496. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.75. Truist Financial Co. has a 12 month low of $26.57 and a 12 month high of $44.38. The stock has a market cap of $59.12 billion, a price-to-earnings ratio of -33.42, a P/E/G ratio of 2.08 and a beta of 1.07. The business’s 50-day moving average price is $38.47 and its 200-day moving average price is $37.57.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Monday, July 22nd. The insurance provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.07. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The business had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $4.83 billion. During the same quarter in the previous year, the business posted $0.95 earnings per share. The business’s revenue was down 15.9% compared to the same quarter last year. Sell-side analysts expect that Truist Financial Co. will post 3.44 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.71%. Truist Financial’s dividend payout ratio (DPR) is -157.58%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TFC. HSBC raised their price target on shares of Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a report on Wednesday, May 8th. Barclays raised their price target on shares of Truist Financial from $43.00 to $47.00 and gave the company an “equal weight” rating in a report on Tuesday. Evercore ISI reaffirmed an “in-line” rating and set a $44.00 price target on shares of Truist Financial in a report on Thursday, May 9th. Compass Point raised shares of Truist Financial from a “neutral” rating to a “buy” rating and raised their price target for the company from $34.00 to $42.00 in a report on Tuesday, April 23rd. Finally, The Goldman Sachs Group raised their price target on shares of Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Truist Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.95.

Truist Financial Company Profile

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.