EJF Capital LLC Sells 29,349 Shares of Truist Financial Corporation $TFC

EJF Capital LLC cut its holdings in Truist Financial Corporation (NYSE:TFC) by 39.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,901 shares of the insurance provider’s stock after selling 29,349 shares during the quarter. EJF Capital LLC’s holdings in Truist Financial were worth $1,930,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wealth Preservation Advisors LLC purchased a new position in shares of Truist Financial during the 1st quarter worth $25,000. Aspect Partners LLC lifted its position in Truist Financial by 71.5% during the second quarter. Aspect Partners LLC now owns 643 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 268 shares in the last quarter. Princeton Global Asset Management LLC purchased a new position in Truist Financial during the second quarter valued at $30,000. Ramirez Asset Management Inc. grew its holdings in Truist Financial by 60.0% during the second quarter. Ramirez Asset Management Inc. now owns 800 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 300 shares during the period. Finally, Twin Peaks Wealth Advisors LLC purchased a new stake in Truist Financial in the second quarter worth about $36,000. Institutional investors own 71.28% of the company’s stock.

Analyst Upgrades and Downgrades

TFC has been the subject of a number of recent research reports. Baird R W downgraded Truist Financial from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Piper Sandler set a $48.00 price target on shares of Truist Financial in a research report on Monday, October 20th. Wall Street Zen cut shares of Truist Financial from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Keefe, Bruyette & Woods lifted their target price on shares of Truist Financial from $48.00 to $49.00 and gave the company a “market perform” rating in a research note on Monday, October 20th. Finally, Wells Fargo & Company reiterated an “equal weight” rating and issued a $47.00 price target on shares of Truist Financial in a research note on Thursday, August 21st. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $49.60.

Insider Buying and Selling at Truist Financial

In other news, Director K. David Jr. Boyer sold 5,160 shares of the company’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $46.45, for a total transaction of $239,682.00. Following the sale, the director directly owned 10,153 shares in the company, valued at approximately $471,606.85. This represents a 33.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.17% of the stock is currently owned by company insiders.

Truist Financial Stock Performance

NYSE:TFC opened at $49.89 on Friday. The company has a market cap of $63.82 billion, a price-to-earnings ratio of 13.41, a PEG ratio of 1.08 and a beta of 0.90. Truist Financial Corporation has a 1 year low of $33.56 and a 1 year high of $50.26. The stock’s 50 day simple moving average is $45.12 and its two-hundred day simple moving average is $44.29. 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 (NYSE:TFC) last posted its earnings results on Friday, October 17th. The insurance provider reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.05. Truist Financial had a return on equity of 8.73% and a net margin of 16.84%.The firm had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.20 billion. During the same period in the prior year, the company earned $0.97 EPS. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. As a group, equities analysts anticipate that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Friday, November 14th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend was Friday, November 14th. Truist Financial’s dividend payout ratio (DPR) is presently 55.91%.

About Truist Financial

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.