Moody National Bank Trust Division cut its holdings in shares of Truist Financial Co. (NYSE:TFC – Get Rating) by 1.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,269 shares of the insurance provider’s stock after selling 487 shares during the period. Moody National Bank Trust Division’s holdings in Truist Financial were worth $1,489,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. CAPROCK Group Inc. raised its holdings in shares of Truist Financial by 73.8% during the first quarter. CAPROCK Group Inc. now owns 23,572 shares of the insurance provider’s stock valued at $1,337,000 after acquiring an additional 10,007 shares during the period. CHICAGO TRUST Co NA acquired a new stake in shares of Truist Financial during the first quarter valued at approximately $227,000. Dynamic Advisor Solutions LLC raised its holdings in shares of Truist Financial by 0.9% during the first quarter. Dynamic Advisor Solutions LLC now owns 22,806 shares of the insurance provider’s stock valued at $1,293,000 after acquiring an additional 203 shares during the period. Veriti Management LLC raised its holdings in shares of Truist Financial by 4.3% during the first quarter. Veriti Management LLC now owns 25,077 shares of the insurance provider’s stock valued at $1,422,000 after acquiring an additional 1,041 shares during the period. Finally, Nordea Investment Management AB raised its holdings in shares of Truist Financial by 3.2% during the first quarter. Nordea Investment Management AB now owns 1,399,430 shares of the insurance provider’s stock valued at $82,412,000 after acquiring an additional 42,971 shares during the period. 72.79% of the stock is owned by institutional investors and hedge funds.
TFC stock opened at $47.23 on Thursday. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $62.88 billion, a price-to-earnings ratio of 10.54, a P/E/G ratio of 1.70 and a beta of 1.17. Truist Financial Co. has a 12 month low of $44.75 and a 12 month high of $68.95. The firm has a 50 day moving average of $48.61 and a two-hundred day moving average of $56.28.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 1st. Investors of record on Friday, May 13th were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 4.07%. The ex-dividend date was Thursday, May 12th. Truist Financial’s dividend payout ratio is currently 42.86%.
A number of equities research analysts have recently issued reports on TFC shares. Stephens cut their price target on shares of Truist Financial from $74.00 to $64.00 and set an “overweight” rating on the stock in a report on Tuesday, June 7th. Morgan Stanley cut their price target on shares of Truist Financial from $72.00 to $63.00 and set an “equal weight” rating on the stock in a report on Monday, March 28th. Piper Sandler dropped their price objective on shares of Truist Financial from $69.00 to $62.00 in a research note on Wednesday, April 20th. Citigroup lowered shares of Truist Financial from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $75.00 to $58.00 in a research note on Monday, April 11th. Finally, Wolfe Research dropped their price objective on shares of Truist Financial from $57.00 to $41.00 and set an “underperform” rating on the stock in a research note on Thursday, May 26th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $62.46.
In other news, Director Steven C. Voorhees acquired 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 4th. The stock was acquired at an average cost of $49.82 per share, with a total value of $996,400.00. Following the acquisition, the director now owns 60,873 shares in the company, valued at $3,032,692.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.31% of the stock is currently owned by corporate insiders.
Truist Financial Profile (Get Rating)
Truist Financial Corporation, a holding 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.
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