Catalyst Funds Management Pty Ltd Sells 12,600 Shares of Truist Financial Corporation $TFC

Catalyst Funds Management Pty Ltd trimmed its position in shares of Truist Financial Corporation (NYSE:TFC) by 71.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 5,100 shares of the insurance provider’s stock after selling 12,600 shares during the quarter. Catalyst Funds Management Pty Ltd’s holdings in Truist Financial were worth $251,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Valley Wealth Managers Inc. purchased a new position in Truist Financial in the 3rd quarter worth approximately $28,000. Maseco LLP increased its stake in shares of Truist Financial by 53.8% during the fourth quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock valued at $32,000 after buying an additional 228 shares during the period. Mowery & Schoenfeld Wealth Management LLC increased its stake in shares of Truist Financial by 190.7% during the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 657 shares of the insurance provider’s stock valued at $32,000 after buying an additional 431 shares during the period. Ancora Advisors LLC boosted its position in shares of Truist Financial by 259.1% during the third quarter. Ancora Advisors LLC now owns 693 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 500 shares in the last quarter. Finally, Bare Financial Services Inc boosted its position in shares of Truist Financial by 56.9% during the fourth quarter. Bare Financial Services Inc now owns 822 shares of the insurance provider’s stock valued at $40,000 after purchasing an additional 298 shares in the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Wall Street Zen raised Truist Financial from a “sell” rating to a “hold” rating in a report on Saturday. JPMorgan Chase & Co. decreased their price target on Truist Financial from $57.00 to $51.50 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. Royal Bank Of Canada increased their target price on Truist Financial from $51.00 to $53.00 and gave the company an “outperform” rating in a report on Monday, April 20th. Weiss Ratings upgraded Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. Finally, Morgan Stanley reduced their price target on Truist Financial from $63.00 to $62.00 and set an “overweight” rating for the company in a research report on Monday, April 20th. Nine analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Truist Financial currently has a consensus rating of “Moderate Buy” and an average price target of $55.59.

Truist Financial Price Performance

NYSE:TFC opened at $48.45 on Tuesday. The firm has a market capitalization of $60.37 billion, a price-to-earnings ratio of 12.02, a PEG ratio of 0.83 and a beta of 0.92. Truist Financial Corporation has a 1 year low of $38.27 and a 1 year high of $56.19. The business has a 50 day simple moving average of $47.95 and a 200-day simple moving average of $48.78. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.86 and a quick ratio of 0.86.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Friday, April 17th. The insurance provider reported $1.09 EPS for the quarter, topping the consensus estimate of $1.00 by $0.09. The company had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.18 billion. Truist Financial had a return on equity of 9.55% and a net margin of 18.14%.Truist Financial’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period last year, the business posted $0.87 EPS. Equities analysts forecast that Truist Financial Corporation will post 4.52 EPS for the current year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 8th will be issued a $0.52 dividend. The ex-dividend date is Friday, May 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.3%. Truist Financial’s dividend payout ratio (DPR) is currently 51.61%.

Truist Financial 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.