Epoch Investment Partners Inc. Reduces Stock Position in Truist Financial Co. (NYSE:TFC)

Epoch Investment Partners Inc. lowered its stake in shares of Truist Financial Co. (NYSE:TFC) by 10.5% during the 1st quarter, HoldingsChannel reports. The fund owned 1,425,811 shares of the insurance provider’s stock after selling 166,883 shares during the period. Epoch Investment Partners Inc.’s holdings in Truist Financial were worth $55,578,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in TFC. Crewe Advisors LLC purchased a new stake in shares of Truist Financial during the first quarter worth $27,000. Opal Wealth Advisors LLC purchased a new stake in shares of Truist Financial during the first quarter worth $29,000. Missouri Trust & Investment Co lifted its position in shares of Truist Financial by 227.2% during the fourth quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 593 shares in the last quarter. Rise Advisors LLC purchased a new stake in shares of Truist Financial during the first quarter worth $32,000. Finally, Morton Brown Family Wealth LLC lifted its position in shares of Truist Financial by 236.0% during the fourth quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 649 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Trading Up 0.7 %

Shares of NYSE:TFC traded up $0.30 on Friday, reaching $44.42. 7,274,609 shares of the company traded hands, compared to its average volume of 7,258,491. The business’s 50-day simple moving average is $38.81 and its 200 day simple moving average is $37.75. Truist Financial Co. has a 52 week low of $26.57 and a 52 week high of $44.78. The stock has a market capitalization of $59.44 billion, a P/E ratio of -33.65, a price-to-earnings-growth ratio of 2.07 and a beta of 1.07. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61.

Truist Financial (NYSE:TFC) last posted its earnings results on Monday, July 22nd. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.07. The company had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $4.83 billion. Truist Financial had a positive return on equity of 9.18% and a negative net margin of 5.63%. Truist Financial’s quarterly revenue was down 15.9% on a year-over-year basis. During the same period last year, the firm earned $0.95 earnings per share. As a group, equities analysts anticipate that Truist Financial Co. will post 3.57 EPS for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 9th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 4.68%. Truist Financial’s payout ratio is presently -157.58%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. increased their price objective on Truist Financial from $39.50 to $40.50 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. HSBC increased their price objective on Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a research report on Wednesday, May 8th. Jefferies Financial Group increased their price objective on Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. Royal Bank of Canada increased their price objective on Truist Financial from $42.00 to $45.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Finally, Morgan Stanley increased their price objective on Truist Financial from $44.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Truist Financial currently has an average rating of “Hold” and a consensus target price of $45.05.

Insider Buying and Selling

In other Truist Financial news, CEO William H. Rogers, Jr. bought 57,300 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were bought at an average cost of $43.96 per share, with a total value of $2,518,908.00. Following the completion of the purchase, the chief executive officer now directly owns 569,271 shares of the company’s stock, valued at $25,025,153.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.17% of the stock is owned by insiders.

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.