Commerce Bank Sells 120,136 Shares of Truist Financial Co. (NYSE:TFC)

Commerce Bank lessened its position in Truist Financial Co. (NYSE:TFC) by 49.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 120,435 shares of the insurance provider’s stock after selling 120,136 shares during the quarter. Commerce Bank’s holdings in Truist Financial were worth $4,446,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. raised its holdings in Truist Financial by 9.6% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 377,760 shares of the insurance provider’s stock worth $13,947,000 after acquiring an additional 32,983 shares during the period. Delta Asset Management LLC TN grew its position in Truist Financial by 1.0% in the 4th quarter. Delta Asset Management LLC TN now owns 323,386 shares of the insurance provider’s stock worth $11,939,000 after purchasing an additional 3,206 shares during the last quarter. InterOcean Capital Group LLC grew its position in Truist Financial by 1.1% in the 4th quarter. InterOcean Capital Group LLC now owns 40,950 shares of the insurance provider’s stock worth $1,512,000 after purchasing an additional 451 shares during the last quarter. Capital Management Associates NY grew its position in Truist Financial by 53.4% in the 4th quarter. Capital Management Associates NY now owns 25,589 shares of the insurance provider’s stock worth $945,000 after purchasing an additional 8,907 shares during the last quarter. Finally, Bard Financial Services Inc. acquired a new stake in Truist Financial in the 4th quarter worth $487,000. Institutional investors own 71.28% of the company’s stock.

Truist Financial Price Performance

NYSE:TFC opened at $38.40 on Monday. The firm has a market cap of $51.38 billion, a PE ratio of -29.09, a price-to-earnings-growth ratio of 1.92 and a beta of 1.07. Truist Financial Co. has a 12 month low of $26.57 and a 12 month high of $40.51. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.75. The company’s 50-day moving average price is $38.15 and its two-hundred day moving average price is $36.34.

Truist Financial (NYSE:TFC) last announced its earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.12. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The company had revenue of $4.87 billion during the quarter, compared to the consensus estimate of $5.70 billion. During the same period in the previous year, the firm posted $1.09 earnings per share. The company’s revenue was down 8.8% on a year-over-year basis. On average, equities analysts anticipate that Truist Financial Co. will post 3.33 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 10th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.42%. The ex-dividend date of this dividend is Thursday, May 9th. Truist Financial’s dividend payout ratio is presently -157.58%.

Analyst Upgrades and Downgrades

TFC has been the topic of several research analyst reports. Morgan Stanley restated an “equal weight” rating and issued a $43.00 price target on shares of Truist Financial in a research report on Monday, April 22nd. JPMorgan Chase & Co. raised their price target on shares of Truist Financial from $39.50 to $40.50 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Barclays started coverage on shares of Truist Financial in a research report on Thursday, May 16th. They issued an “equal weight” rating and a $43.00 price target on the stock. Citigroup lifted their target price on shares of Truist Financial from $42.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Finally, Wells Fargo & Company lifted their target price on shares of Truist Financial from $39.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Truist Financial has an average rating of “Moderate Buy” and a consensus target price of $43.17.

Insiders Place Their Bets

In related 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 shares were sold at an average price of $37.48, for a total transaction of $141,074.72. Following the completion of the sale, the director now directly owns 16,132 shares of the company’s stock, valued at $604,627.36. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.17% of the company’s stock.

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.