Yousif Capital Management LLC Has $7.66 Million Stock Position in Truist Financial Corporation $TFC

by · The Cerbat Gem

Yousif Capital Management LLC reduced its stake in Truist Financial Corporation (NYSE:TFC – Free Report) by 6.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 167,621 shares of the insurance provider’s stock after selling 12,138 shares during the period. Yousif Capital Management LLC’s holdings in Truist Financial were worth $7,664,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of TFC. Norges Bank bought a new stake in Truist Financial in the second quarter valued at $487,401,000. Laurel Wealth Advisors LLC lifted its holdings in shares of Truist Financial by 4,121.3% during the second quarter. Laurel Wealth Advisors LLC now owns 2,335,991 shares of the insurance provider’s stock valued at $100,424,000 after acquiring an additional 2,280,653 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of Truist Financial by 811.0% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,018,457 shares of the insurance provider’s stock valued at $86,773,000 after purchasing an additional 1,796,884 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Truist Financial by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 120,440,153 shares of the insurance provider’s stock valued at $5,177,722,000 after purchasing an additional 1,529,478 shares in the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of Truist Financial by 71.9% in the 2nd quarter. AQR Capital Management LLC now owns 3,165,033 shares of the insurance provider’s stock worth $136,065,000 after purchasing an additional 1,323,866 shares during the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Truist Financial

In other Truist Financial news, Director K. David Jr. Boyer sold 5,160 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $46.45, for a total transaction of $239,682.00. Following the transaction, the director owned 10,153 shares in the company, valued at approximately $471,606.85. This trade represents a 33.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on TFC shares. Wall Street Zen downgraded shares of Truist Financial from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. UBS Group set a $55.00 price objective on shares of Truist Financial in a report on Tuesday, October 21st. Raymond James Financial reiterated an “outperform” rating on shares of Truist Financial in a research note on Tuesday, October 7th. Evercore ISI increased their price target on Truist Financial from $48.00 to $50.00 and gave the stock an “in-line” rating in a research report on Tuesday, September 30th. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $52.00 price target on shares of Truist Financial in a report on Thursday, December 11th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $49.93.

Check Out Our Latest Analysis on Truist Financial

Truist Financial Trading Down 0.1%

Shares of NYSE TFC opened at $50.52 on Wednesday. Truist Financial Corporation has a fifty-two week low of $33.56 and a fifty-two week high of $50.86. The firm has a market capitalization of $64.63 billion, a P/E ratio of 13.58, a P/E/G ratio of 1.09 and a beta of 0.90. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.86 and a quick ratio of 0.86. The company’s 50 day simple moving average is $45.98 and its 200 day simple moving average is $44.87.

Truist Financial (NYSE:TFC – Get Free Report) last released its earnings results on Friday, October 17th. The insurance provider reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.05. The firm had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.20 billion. Truist Financial had a net margin of 16.84% and a return on equity of 8.73%. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.97 EPS. On average, analysts predict that Truist Financial Corporation will post 4 EPS for the current year.

Truist Financial declared that its board has authorized a stock repurchase program on Tuesday, December 16th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the insurance provider to reacquire up to 15.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Friday, November 14th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a $2.08 annualized dividend and a yield of 4.1%. Truist Financial’s dividend payout ratio is presently 55.91%.

Truist Financial Company Profile

(Free Report)

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.

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