Leisure Capital Management Reduces Stock Holdings in Truist Financial Co. (NYSE:TFC)

Leisure Capital Management trimmed its position in Truist Financial Co. (NYSE:TFC) by 25.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,818 shares of the insurance provider’s stock after selling 5,684 shares during the period. Leisure Capital Management’s holdings in Truist Financial were worth $621,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of TFC. Vanguard Group Inc. raised its stake in shares of Truist Financial by 0.3% in the third quarter. Vanguard Group Inc. now owns 117,271,628 shares of the insurance provider’s stock worth $3,355,141,000 after buying an additional 365,871 shares during the period. Royal Bank of Canada raised its stake in shares of Truist Financial by 5.0% in the third quarter. Royal Bank of Canada now owns 15,384,890 shares of the insurance provider’s stock worth $440,162,000 after buying an additional 732,801 shares during the period. Morgan Stanley raised its stake in shares of Truist Financial by 0.3% in the third quarter. Morgan Stanley now owns 15,364,138 shares of the insurance provider’s stock worth $439,568,000 after buying an additional 39,510 shares during the period. Truist Financial Corp raised its stake in shares of Truist Financial by 0.5% in the third quarter. Truist Financial Corp now owns 5,197,904 shares of the insurance provider’s stock worth $148,712,000 after buying an additional 26,972 shares during the period. Finally, Jennison Associates LLC raised its stake in shares of Truist Financial by 45.1% in the third quarter. Jennison Associates LLC now owns 3,673,609 shares of the insurance provider’s stock worth $105,102,000 after buying an additional 1,141,944 shares during the period. 71.28% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Truist Financial

In other news, Director K. David Jr. Boyer sold 3,764 shares of the company’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 value of $141,074.72. Following the completion of the sale, the director now owns 16,132 shares of the company’s stock, valued at approximately $604,627.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.17% of the stock is owned by corporate insiders.

Truist Financial Trading Up 0.5 %

Truist Financial stock traded up $0.20 during trading hours on Friday, hitting $38.17. The company had a trading volume of 4,651,351 shares, compared to its average volume of 8,494,242. The firm has a market cap of $50.94 billion, a P/E ratio of -28.92, a P/E/G ratio of 2.00 and a beta of 1.08. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.82 and a current ratio of 0.82. Truist Financial Co. has a 1 year low of $25.56 and a 1 year high of $39.29. The company has a 50-day moving average price of $36.90 and a two-hundred day moving average price of $34.82.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.12. The company had revenue of $4.87 billion during the quarter, compared to analysts’ expectations of $5.70 billion. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The firm’s quarterly revenue was down 8.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.09 EPS. On average, sell-side analysts anticipate that Truist Financial Co. will post 3.27 earnings per share for the current year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 10th will be given a $0.52 dividend. The ex-dividend date is Thursday, May 9th. This represents a $2.08 annualized dividend and a yield of 5.45%. Truist Financial’s dividend payout ratio (DPR) is -157.58%.

Wall Street Analyst Weigh In

TFC has been the topic of several recent analyst reports. Morgan Stanley reissued an “equal weight” rating and set a $43.00 target price on shares of Truist Financial in a research note on Monday, April 22nd. Citigroup lifted their target price on Truist Financial from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday. Stephens reissued an “overweight” rating and set a $43.00 target price on shares of Truist Financial in a research note on Tuesday. Piper Sandler lifted their target price on Truist Financial from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, January 19th. Finally, HSBC lifted their target price on Truist Financial from $37.00 to $39.00 and gave the company a “hold” rating in a research note on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.97.

Truist Financial Company 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.