Deprince Race & Zollo Inc. Has $30.02 Million Position in Truist Financial Corporation $TFC

Deprince Race & Zollo Inc. trimmed its position in Truist Financial Corporation (NYSE:TFC) by 1.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 656,518 shares of the insurance provider’s stock after selling 13,015 shares during the quarter. Deprince Race & Zollo Inc.’s holdings in Truist Financial were worth $30,016,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in shares of Truist Financial by 148.5% in the fourth quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider’s stock valued at $1,023,000 after acquiring an additional 14,093 shares in the last quarter. CreativeOne Wealth LLC boosted its holdings in Truist Financial by 42.2% in the 1st quarter. CreativeOne Wealth LLC now owns 10,564 shares of the insurance provider’s stock valued at $435,000 after purchasing an additional 3,136 shares during the period. Truvestments Capital LLC grew its position in shares of Truist Financial by 362.7% during the 1st quarter. Truvestments Capital LLC now owns 1,388 shares of the insurance provider’s stock worth $57,000 after purchasing an additional 1,088 shares in the last quarter. Landscape Capital Management L.L.C. bought a new position in shares of Truist Financial during the first quarter worth approximately $512,000. Finally, Canada Pension Plan Investment Board raised its position in shares of Truist Financial by 6.5% in the first quarter. Canada Pension Plan Investment Board now owns 291,214 shares of the insurance provider’s stock valued at $11,983,000 after buying an additional 17,830 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Insider Activity at Truist Financial

In other news, Director K. David Jr. Boyer sold 5,160 shares of the stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $46.45, for a total value of $239,682.00. Following the completion of the transaction, the director directly owned 10,153 shares in the company, valued at approximately $471,606.85. This represents a 33.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on TFC shares. Baird R W downgraded Truist Financial from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 11th. Evercore ISI increased their target price on Truist Financial from $48.00 to $50.00 and gave the stock an “in-line” rating in a report on Tuesday, September 30th. Robert W. Baird reaffirmed a “neutral” rating and issued a $52.00 price target on shares of Truist Financial in a research note on Thursday, December 11th. Keefe, Bruyette & Woods upped their price objective on shares of Truist Financial from $49.00 to $53.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 17th. Finally, Morgan Stanley raised their target price on shares of Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a report on Wednesday, December 17th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $49.93.

Truist Financial Stock Performance

Truist Financial stock opened at $50.61 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70. The stock has a market cap of $64.74 billion, a PE ratio of 13.60, a P/E/G ratio of 1.10 and a beta of 0.90. Truist Financial Corporation has a 12-month low of $33.56 and a 12-month high of $50.86. The business’s 50-day moving average price is $46.48 and its two-hundred day moving average price is $45.06.

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

Truist Financial declared that its board has approved a stock repurchase plan on Tuesday, December 16th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the insurance provider to repurchase up to 15.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Truist Financial Announces Dividend

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

Truist Financial Company Profile

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.