Vinva Investment Management Ltd Sells 18,666 Shares of Truist Financial Co. (NYSE:TFC)

Vinva Investment Management Ltd decreased its holdings in shares of Truist Financial Co. (NYSE:TFC) by 12.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 135,771 shares of the insurance provider’s stock after selling 18,666 shares during the quarter. Vinva Investment Management Ltd’s holdings in Truist Financial were worth $5,888,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in TFC. Bangor Savings Bank boosted its stake in Truist Financial by 92.5% during the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 272 shares during the period. Hopwood Financial Services Inc. bought a new stake in shares of Truist Financial in the 4th quarter worth approximately $26,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Truist Financial in the 3rd quarter worth approximately $32,000. Curio Wealth LLC bought a new stake in shares of Truist Financial in the 4th quarter worth approximately $45,000. Finally, True Wealth Design LLC acquired a new position in shares of Truist Financial in the 3rd quarter worth approximately $51,000. Institutional investors own 71.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TFC. The Goldman Sachs Group increased their target price on Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Stephens increased their target price on Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Piper Sandler increased their target price on Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Raymond James increased their target price on Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods increased their target price on Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” rating in a report on Tuesday, January 21st. Nine analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.16.

Truist Financial Stock Down 0.5 %

Shares of TFC opened at $40.84 on Wednesday. Truist Financial Co. has a 52 week low of $35.06 and a 52 week high of $49.06. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. The firm has a market capitalization of $53.32 billion, a price-to-earnings ratio of 12.27, a PEG ratio of 1.63 and a beta of 1.08. The business’s fifty day moving average price is $45.26 and its two-hundred day moving average price is $44.52.

Truist Financial (NYSE:TFC) last released its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.03. The firm had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The company’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.81 earnings per share. On average, analysts predict that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 5.09%. The ex-dividend date was Friday, February 14th. Truist Financial’s payout ratio is presently 62.46%.

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.