Iowa State Bank Sells 1,130 Shares of Truist Financial Co. (NYSE:TFC)

Iowa State Bank reduced its holdings in shares of Truist Financial Co. (NYSE:TFC) by 1.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 89,799 shares of the insurance provider’s stock after selling 1,130 shares during the quarter. Iowa State Bank’s holdings in Truist Financial were worth $3,895,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of TFC. State Street Corp lifted its stake in shares of Truist Financial by 4.6% in the 3rd quarter. State Street Corp now owns 61,864,957 shares of the insurance provider’s stock valued at $2,645,964,000 after acquiring an additional 2,720,223 shares during the last quarter. Geode Capital Management LLC raised its position in Truist Financial by 1.7% in the third quarter. Geode Capital Management LLC now owns 27,440,951 shares of the insurance provider’s stock valued at $1,169,350,000 after purchasing an additional 456,412 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Truist Financial by 1.0% during the second quarter. Legal & General Group Plc now owns 10,338,802 shares of the insurance provider’s stock valued at $401,663,000 after purchasing an additional 103,565 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Truist Financial by 3.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,431,037 shares of the insurance provider’s stock worth $403,365,000 after purchasing an additional 288,306 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Truist Financial by 3.5% in the second quarter. Dimensional Fund Advisors LP now owns 8,932,261 shares of the insurance provider’s stock valued at $346,957,000 after buying an additional 299,196 shares during the period. 71.28% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Truist Financial

In other Truist Financial news, Director K. David Jr. Boyer sold 4,966 shares of Truist Financial stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total value of $229,429.20. Following the sale, the director now owns 11,246 shares of the company’s stock, valued at approximately $519,565.20. The trade was a 30.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William H. Rogers, Jr. acquired 34,180 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was purchased at an average price of $48.56 per share, for a total transaction of $1,659,780.80. Following the purchase, the chief executive officer now owns 691,451 shares of the company’s stock, valued at $33,576,860.56. The trade was a 5.20 % increase in their position. The disclosure for this purchase can be found here. 0.17% of the stock is currently owned by insiders.

Analysts Set New Price Targets

TFC has been the topic of a number of research reports. Stephens reissued an “overweight” rating and set a $54.00 target price on shares of Truist Financial in a report on Thursday. Piper Sandler boosted their price objective on shares of Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. The Goldman Sachs Group upped their price target on Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Finally, Keefe, Bruyette & Woods upped their target price on Truist Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Twelve analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $49.39.

Truist Financial Stock Up 1.0 %

Shares of NYSE:TFC traded up $0.42 during trading on Monday, reaching $44.52. 2,995,854 shares of the stock were exchanged, compared to its average volume of 4,285,667. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a fifty day moving average of $45.30 and a two-hundred day moving average of $43.14. Truist Financial Co. has a 1-year low of $34.23 and a 1-year high of $49.06. The firm has a market cap of $59.10 billion, a price-to-earnings ratio of -31.13, a price-to-earnings-growth ratio of 1.88 and a beta of 1.08.

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

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 8th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $2.08 annualized dividend and a yield of 4.67%. Truist Financial’s dividend payout ratio (DPR) is currently -145.45%.

About Truist Financial

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.