Lido Advisors LLC Decreases Stock Position in Truist Financial Corporation $TFC

by · The Cerbat Gem

Lido Advisors LLC cut its holdings in Truist Financial Corporation (NYSE:TFC – Free Report) by 93.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,830 shares of the insurance provider’s stock after selling 95,659 shares during the quarter. Lido Advisors LLC’s holdings in Truist Financial were worth $294,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. West Family Investments Inc. lifted its holdings in shares of Truist Financial by 25.0% during the second quarter. West Family Investments Inc. now owns 6,569 shares of the insurance provider’s stock valued at $282,000 after purchasing an additional 1,313 shares in the last quarter. Skandinaviska Enskilda Banken AB publ increased its holdings in Truist Financial by 100.0% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 874,120 shares of the insurance provider’s stock worth $37,570,000 after buying an additional 437,023 shares in the last quarter. Norges Bank purchased a new position in Truist Financial in the 2nd quarter worth about $487,401,000. Quadrature Capital Ltd purchased a new position in Truist Financial in the 2nd quarter worth about $1,502,000. Finally, Scotia Capital Inc. lifted its stake in Truist Financial by 9.5% during the 2nd quarter. Scotia Capital Inc. now owns 23,124 shares of the insurance provider’s stock valued at $994,000 after acquiring an additional 2,013 shares during the period. Institutional investors own 71.28% of the company’s stock.

Wall Street Analysts Forecast Growth

TFC has been the topic of a number of recent analyst reports. TD Cowen raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a report on Tuesday, October 21st. Keefe, Bruyette & Woods increased their price objective on shares of Truist Financial from $48.00 to $49.00 and gave the company a “market perform” rating in a research report on Monday, October 20th. Raymond James Financial restated an “outperform” rating on shares of Truist Financial in a report on Tuesday, October 7th. Wall Street Zen lowered shares of Truist Financial from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Finally, Wells Fargo & Company reissued an “equal weight” rating and set a $47.00 price target on shares of Truist Financial in a report on Thursday, August 21st. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $50.00.

Get Our Latest Stock Report on Truist Financial

Insiders Place Their Bets

In other Truist Financial news, Director K. David Jr. Boyer sold 5,160 shares of Truist Financial stock in a transaction that occurred on Tuesday, November 25th. The shares were 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 of the company’s stock, valued at $471,606.85. The trade was a 33.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is owned by corporate insiders.

Truist Financial Stock Up 0.3%

TFC opened at $47.66 on Tuesday. The firm’s 50 day simple moving average is $44.83 and its two-hundred day simple moving average is $44.08. The company has a market capitalization of $60.96 billion, a PE ratio of 12.81, a PEG ratio of 1.03 and a beta of 0.90. Truist Financial Corporation has a 1-year low of $33.56 and a 1-year high of $48.53. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70.

Truist Financial (NYSE:TFC – Get Free Report) last issued its quarterly earnings data on Friday, October 17th. The insurance provider reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.05. Truist Financial had a net margin of 16.84% and a return on equity of 8.73%. The firm had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.20 billion. During the same quarter in the previous year, the firm posted $0.97 EPS. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, equities analysts forecast that Truist Financial Corporation will post 4 EPS for the current year.

Truist Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Friday, November 14th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, November 14th. This represents a $2.08 annualized dividend and a yield of 4.4%. Truist Financial’s payout ratio is currently 55.91%.

Truist Financial Company Profile

(Free Report)

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.

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