Mizuho Securities USA LLC Sells 16,339 Shares of Truist Financial Co. (NYSE:TFC)

Mizuho Securities USA LLC reduced its stake in Truist Financial Co. (NYSE:TFC) by 15.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 86,836 shares of the insurance provider’s stock after selling 16,339 shares during the quarter. Mizuho Securities USA LLC’s holdings in Truist Financial were worth $3,714,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of TFC. CreativeOne Wealth LLC bought a new stake in shares of Truist Financial in the 1st quarter valued at about $516,000. M&G Plc bought a new position in Truist Financial in the 2nd quarter valued at about $2,804,000. Dimensional Fund Advisors LP grew its holdings in Truist Financial by 3.5% during the second quarter. Dimensional Fund Advisors LP now owns 8,932,261 shares of the insurance provider’s stock worth $346,957,000 after buying an additional 299,196 shares in the last quarter. Boston Common Asset Management LLC increased its stake in Truist Financial by 66.4% in the 3rd quarter. Boston Common Asset Management LLC now owns 154,523 shares of the insurance provider’s stock valued at $6,609,000 after buying an additional 61,683 shares during the last quarter. Finally, PGGM Investments bought a new stake in shares of Truist Financial during the 1st quarter worth $611,000. Institutional investors own 71.28% of the company’s stock.

Analysts Set New Price Targets

TFC has been the subject of a number of recent research reports. Keefe, Bruyette & Woods lifted their price objective on shares of Truist Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. raised their price target on Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. UBS Group upped their price objective on shares of Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Wells Fargo & Company lifted their price target on Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, Royal Bank of Canada upped their price objective on shares of Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Twelve equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Truist Financial currently has a consensus rating of “Hold” and an average price target of $46.37.

Truist Financial Stock Performance

Shares of TFC stock opened at $46.91 on Friday. Truist Financial Co. has a 12-month low of $31.23 and a 12-month high of $47.57. The company has a market capitalization of $62.27 billion, a P/E ratio of -32.80, a P/E/G ratio of 1.92 and a beta of 1.05. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.62. The business’s 50 day moving average is $43.56 and its two-hundred day moving average is $41.45.

Truist Financial (NYSE:TFC) last announced its earnings results on Thursday, October 17th. The insurance provider reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.08. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. The company had revenue of $5.09 billion for the quarter, compared to analysts’ expectations of $5.05 billion. Analysts expect that Truist Financial Co. will post 3.7 EPS for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date is Friday, November 8th. Truist Financial’s dividend payout ratio (DPR) is currently -145.45%.

Truist Financial 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.