Yousif Capital Management LLC Lowers Stock Holdings in Truist Financial Co. (NYSE:TFC)

Yousif Capital Management LLC reduced its position in shares of Truist Financial Co. (NYSE:TFC) by 4.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 196,915 shares of the insurance provider’s stock after selling 8,435 shares during the period. Yousif Capital Management LLC’s holdings in Truist Financial were worth $7,270,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Morton Brown Family Wealth LLC boosted its position in shares of Truist Financial by 236.0% during the fourth quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock worth $34,000 after buying an additional 649 shares during the period. OFI Invest Asset Management purchased a new position in shares of Truist Financial during the third quarter worth $26,000. Criterion Capital Advisors LLC purchased a new position in shares of Truist Financial during the fourth quarter worth $38,000. Operose Advisors LLC purchased a new position in Truist Financial in the third quarter valued at $31,000. Finally, Tyler Stone Wealth Management purchased a new position in Truist Financial in the third quarter valued at $33,000. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Truist Financial Stock Performance

Shares of TFC stock opened at $38.00 on Thursday. The stock has a market capitalization of $50.71 billion, a PE ratio of -29.39, a price-to-earnings-growth ratio of 2.45 and a beta of 1.08. Truist Financial Co. has a 52-week low of $25.56 and a 52-week high of $39.29. The stock’s 50-day moving average price is $36.83 and its 200 day moving average price is $34.73. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.75.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.12. The firm had revenue of $4.87 billion for the quarter, compared to analysts’ expectations of $5.70 billion. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The firm’s revenue for the quarter was down 8.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.09 EPS. As a group, equities research analysts forecast that Truist Financial Co. will post 3.26 EPS for the current year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 10th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 5.47%. The ex-dividend date is Thursday, May 9th. Truist Financial’s payout ratio is -157.58%.

Insiders Place Their Bets

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $37.48, for a total transaction of $141,074.72. Following the transaction, the director now owns 16,132 shares in the company, valued at approximately $604,627.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.17% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

TFC has been the subject of a number of recent research reports. Bank of America upgraded Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 target price for the company in a report on Thursday, January 4th. UBS Group lifted their target price on Truist Financial from $45.00 to $49.00 and gave the company a “buy” rating in a report on Friday, April 5th. Jefferies Financial Group lifted their price target on Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a report on Monday, April 8th. Compass Point raised Truist Financial from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $34.00 to $42.00 in a report on Tuesday. Finally, TheStreet downgraded Truist Financial from a “b-” rating to a “c” rating in a report on Tuesday, February 20th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $41.97.

Truist Financial Profile

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.