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

Epoch Investment Partners Inc. trimmed its holdings in shares of Truist Financial Co. (NYSE:TFC) by 3.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,382,411 shares of the insurance provider’s stock after selling 43,400 shares during the quarter. Epoch Investment Partners Inc. owned 0.10% of Truist Financial worth $53,707,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Frank Rimerman Advisors LLC raised its position in Truist Financial by 53,284.9% during the second quarter. Frank Rimerman Advisors LLC now owns 28,294 shares of the insurance provider’s stock valued at $1,099,000 after purchasing an additional 28,241 shares during the period. Holderness Investments Co. increased its position in shares of Truist Financial by 0.6% during the 2nd quarter. Holderness Investments Co. now owns 60,145 shares of the insurance provider’s stock valued at $2,337,000 after purchasing an additional 359 shares during the last quarter. ProShare Advisors LLC raised its holdings in Truist Financial by 4.8% during the 2nd quarter. ProShare Advisors LLC now owns 283,534 shares of the insurance provider’s stock valued at $11,015,000 after buying an additional 13,092 shares during the period. Pacer Advisors Inc. lifted its position in Truist Financial by 4.6% in the second quarter. Pacer Advisors Inc. now owns 95,577 shares of the insurance provider’s stock worth $3,713,000 after buying an additional 4,192 shares during the last quarter. Finally, AE Wealth Management LLC lifted its position in Truist Financial by 8.3% in the second quarter. AE Wealth Management LLC now owns 414,261 shares of the insurance provider’s stock worth $16,094,000 after buying an additional 31,689 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Truist Financial Trading Down 1.4 %

Shares of NYSE TFC opened at $42.32 on Monday. Truist Financial Co. has a 1-year low of $26.57 and a 1-year high of $45.31. The business has a fifty day moving average price of $42.81 and a 200 day moving average price of $39.56. The stock has a market capitalization of $56.63 billion, a P/E ratio of -32.06, a price-to-earnings-growth ratio of 1.98 and a beta of 1.06. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.86 and a quick ratio of 0.86.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Monday, July 22nd. The insurance provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.84 by $0.07. Truist Financial had a negative net margin of 5.63% and a positive return on equity of 9.18%. The business had revenue of $5.02 billion during the quarter, compared to analyst estimates of $4.83 billion. During the same period in the prior year, the firm posted $0.95 earnings per share. The company’s quarterly revenue was down 15.9% on a year-over-year basis. Equities research analysts expect that Truist Financial Co. will post 3.55 EPS for the current fiscal year.

Truist Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.91%. The ex-dividend date was Friday, August 9th. Truist Financial’s dividend payout ratio is currently -157.58%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Argus raised their target price on shares of Truist Financial from $44.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Bank of America raised their price objective on shares of Truist Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Baird R W cut Truist Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Barclays raised their price target on Truist Financial from $43.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd. Finally, StockNews.com downgraded shares of Truist Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $45.45.

Insider Transactions at Truist Financial

In other Truist Financial news, CEO William H. Rogers, Jr. acquired 57,300 shares of the stock in a transaction dated Tuesday, July 23rd. The stock was purchased at an average price of $43.96 per share, with a total value of $2,518,908.00. Following the transaction, the chief executive officer now directly owns 569,271 shares of the company’s stock, valued at $25,025,153.16. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Truist Financial news, VP Cynthia B. Powell sold 6,688 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $44.14, for a total transaction of $295,208.32. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William H. Rogers, Jr. bought 57,300 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was purchased at an average cost of $43.96 per share, for a total transaction of $2,518,908.00. Following the completion of the transaction, the chief executive officer now owns 569,271 shares in the company, valued at $25,025,153.16. The disclosure for this purchase can be found here. Insiders own 0.17% of the company’s stock.

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.