Moloney Securities Asset Management LLC Has $1.27 Million Stock Holdings in Truist Financial Corporation $TFC

Moloney Securities Asset Management LLC decreased its stake in Truist Financial Corporation (NYSE:TFC) by 46.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,687 shares of the insurance provider’s stock after selling 24,289 shares during the period. Moloney Securities Asset Management LLC’s holdings in Truist Financial were worth $1,266,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of TFC. Valley Wealth Managers Inc. bought a new stake in shares of Truist Financial during the 3rd quarter worth approximately $28,000. Aspect Partners LLC increased its holdings in Truist Financial by 71.5% during the second quarter. Aspect Partners LLC now owns 643 shares of the insurance provider’s stock worth $28,000 after buying an additional 268 shares during the last quarter. Darwin Wealth Management LLC raised its position in Truist Financial by 631.6% during the third quarter. Darwin Wealth Management LLC now owns 695 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 600 shares in the last quarter. Princeton Global Asset Management LLC bought a new stake in Truist Financial during the second quarter worth $30,000. Finally, Capital A Wealth Management LLC lifted its stake in Truist Financial by 1,189.5% in the second quarter. Capital A Wealth Management LLC now owns 735 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 678 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Insiders Place Their Bets

In other Truist Financial news, CAO Cynthia B. Powell sold 3,500 shares of the business’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $52.49, for a total value of $183,715.00. Following the completion of the sale, the chief accounting officer owned 667 shares of the company’s stock, valued at $35,010.83. The trade was a 83.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Michael Baron Maguire sold 13,000 shares of Truist Financial stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $50.13, for a total transaction of $651,690.00. Following the completion of the sale, the chief financial officer owned 74,323 shares of the company’s stock, valued at approximately $3,725,811.99. The trade was a 14.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 21,660 shares of company stock worth $1,075,087 in the last quarter. 0.17% of the stock is currently owned by corporate insiders.

Truist Financial Price Performance

Shares of NYSE TFC opened at $55.86 on Friday. The firm has a market cap of $71.46 billion, a P/E ratio of 14.66, a price-to-earnings-growth ratio of 0.94 and a beta of 0.89. The business’s 50 day moving average is $50.21 and its 200-day moving average is $46.72. The company has a current ratio of 0.87, 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 $56.20.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Wednesday, January 21st. The insurance provider reported $1.00 EPS for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.09). The firm had revenue of $5.25 billion during the quarter, compared to analyst estimates of $5.32 billion. Truist Financial had a net margin of 17.09% and a return on equity of 9.03%. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.91 earnings per share. Equities research analysts predict that Truist Financial Corporation will post 4 earnings per share for the current year.

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

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Friday, February 13th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Friday, February 13th. Truist Financial’s dividend payout ratio (DPR) is currently 54.59%.

Analyst Ratings Changes

TFC has been the topic of several recent analyst reports. Argus boosted their price objective on shares of Truist Financial from $54.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday, January 23rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Truist Financial in a report on Monday, December 29th. Robert W. Baird lowered Truist Financial from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 11th. Piper Sandler lifted their target price on Truist Financial from $50.00 to $53.00 and gave the stock a “neutral” rating in a research note on Thursday, January 22nd. Finally, Evercore boosted their target price on Truist Financial from $58.00 to $64.00 and gave the stock an “outperform” rating in a report on Thursday. Eight equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $54.60.

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.