Intech Investment Management LLC Trims Stake in Truist Financial Corporation $TFC

Intech Investment Management LLC lowered its holdings in Truist Financial Corporation (NYSE:TFC) by 78.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,300 shares of the insurance provider’s stock after selling 49,584 shares during the quarter. Intech Investment Management LLC’s holdings in Truist Financial were worth $654,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Houlihan Financial Resource Group Ltd. purchased a new stake in Truist Financial in the fourth quarter valued at $242,000. Kingsview Wealth Management LLC raised its position in Truist Financial by 2.0% in the fourth quarter. Kingsview Wealth Management LLC now owns 169,646 shares of the insurance provider’s stock valued at $8,348,000 after purchasing an additional 3,311 shares during the period. Smith Chas P & Associates PA Cpas raised its position in Truist Financial by 212.1% in the fourth quarter. Smith Chas P & Associates PA Cpas now owns 17,005 shares of the insurance provider’s stock valued at $837,000 after purchasing an additional 11,556 shares during the period. Community Bank & Trust Waco Texas raised its position in Truist Financial by 11.3% in the fourth quarter. Community Bank & Trust Waco Texas now owns 20,952 shares of the insurance provider’s stock valued at $1,031,000 after purchasing an additional 2,119 shares during the period. Finally, Fidelis Capital Partners LLC raised its position in Truist Financial by 11.1% in the fourth quarter. Fidelis Capital Partners LLC now owns 5,039 shares of the insurance provider’s stock valued at $248,000 after purchasing an additional 505 shares during the period. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Price Performance

Shares of NYSE TFC opened at $48.84 on Tuesday. The stock’s 50-day moving average is $48.70 and its two-hundred day moving average is $49.03. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.86 and a quick ratio of 0.86. Truist Financial Corporation has a 1-year low of $38.83 and a 1-year high of $56.19. The company has a market cap of $60.85 billion, a price-to-earnings ratio of 12.12, a price-to-earnings-growth ratio of 0.84 and a beta of 0.89.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Friday, April 17th. The insurance provider reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.09. Truist Financial had a return on equity of 9.55% and a net margin of 18.14%.The company had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.18 billion. During the same quarter in the prior year, the business earned $0.87 EPS. Truist Financial’s revenue was up 5.0% on a year-over-year basis. Analysts forecast that Truist Financial Corporation will post 4.52 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 8th were issued a dividend of $0.52 per share. The ex-dividend date was Friday, May 8th. This represents a $2.08 annualized dividend and a yield of 4.3%. Truist Financial’s dividend payout ratio is 51.61%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on TFC shares. Royal Bank Of Canada lifted their target price on Truist Financial from $51.00 to $53.00 and gave the company an “outperform” rating in a research report on Monday, April 20th. Robert W. Baird downgraded Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 price objective on the stock. in a report on Friday, May 1st. Wall Street Zen upgraded Truist Financial from a “sell” rating to a “hold” rating in a report on Saturday, May 23rd. Morgan Stanley cut their price objective on Truist Financial from $63.00 to $62.00 and set an “overweight” rating on the stock in a report on Monday, April 20th. Finally, JPMorgan Chase & Co. cut their price objective on Truist Financial from $57.00 to $51.50 and set a “neutral” rating on the stock in a report on Tuesday, April 7th. Nine research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $55.59.

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.