Truist Financial Co. (NYSE:TFC) Short Interest Update

Truist Financial Co. (NYSE:TFC) saw a large drop in short interest during the month of December. As of December 31st, there was short interest totalling 16,100,000 shares, a drop of 20.7% from the December 15th total of 20,290,000 shares. Based on an average daily volume of 7,900,000 shares, the days-to-cover ratio is currently 2.0 days. Currently, 1.2% of the company’s shares are sold short.

Insider Buying and Selling at Truist Financial

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Acadian Asset Management LLC acquired a new stake in Truist Financial in the 2nd quarter valued at approximately $1,111,000. Parallel Advisors LLC increased its holdings in shares of Truist Financial by 5.0% during the second quarter. Parallel Advisors LLC now owns 9,843 shares of the insurance provider’s stock valued at $382,000 after purchasing an additional 473 shares during the period. Plato Investment Management Ltd raised its stake in shares of Truist Financial by 48.2% during the second quarter. Plato Investment Management Ltd now owns 6,537 shares of the insurance provider’s stock valued at $254,000 after purchasing an additional 2,125 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in 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 worth $346,957,000 after purchasing an additional 299,196 shares during the period. Finally, Citizens Financial Group Inc. RI grew its position in Truist Financial by 33.0% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 8,610 shares of the insurance provider’s stock valued at $334,000 after buying an additional 2,136 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Performance

TFC traded up $2.65 on Friday, hitting $47.63. 15,702,724 shares of the company’s stock were exchanged, compared to its average volume of 8,280,771. 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 stock has a fifty day moving average of $45.36 and a two-hundred day moving average of $43.48. Truist Financial has a twelve month low of $34.23 and a twelve month high of $49.06. The firm has a market cap of $63.23 billion, a PE ratio of -33.31, a P/E/G ratio of 1.67 and a beta of 1.08.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.03. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. The business had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5,047,370 billion. During the same quarter last year, the business posted $0.81 EPS. The business’s revenue was up 3.4% on a year-over-year basis. On average, research analysts anticipate that Truist Financial will post 3.61 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 8th were given a $0.52 dividend. The ex-dividend date was Friday, November 8th. This represents a $2.08 annualized dividend and a yield of 4.37%. Truist Financial’s dividend payout ratio is presently -145.45%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TFC. JPMorgan Chase & Co. increased their price target on Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday. Citigroup boosted their price target on Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. Stephens reaffirmed an “overweight” rating and issued a $54.00 price objective on shares of Truist Financial in a research report on Thursday, January 2nd. Finally, Wells Fargo & Company boosted their target price on shares of Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Eleven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $49.95.

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.