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

Mizuho Securities USA LLC lessened its holdings in shares of Truist Financial Co. (NYSE:TFC) by 15.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 86,836 shares of the insurance provider’s stock after selling 16,339 shares during the period. Mizuho Securities USA LLC’s holdings in Truist Financial were worth $3,714,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Valley Wealth Managers Inc. bought a new stake in Truist Financial in the 3rd quarter worth approximately $26,000. Crewe Advisors LLC bought a new stake in Truist Financial in the first quarter worth $27,000. MFA Wealth Advisors LLC purchased a new position in shares of Truist Financial during the 2nd quarter worth about $30,000. Y.D. More Investments Ltd bought a new position in Truist Financial in the 2nd quarter valued at $31,000. Finally, MidAtlantic Capital Management Inc. bought a new position in Truist Financial in the 3rd quarter worth about $32,000. 71.28% of the stock is owned by hedge funds and other institutional investors.

Truist Financial Stock Up 1.6 %

Truist Financial stock opened at $46.91 on Friday. 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 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 firm’s fifty day simple moving average is $43.56 and its 200-day simple moving average is $41.45. Truist Financial Co. has a 1-year low of $31.23 and a 1-year high of $47.57.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Thursday, October 17th. The insurance provider reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.08. The firm 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%. Sell-side analysts forecast that Truist Financial Co. will post 3.7 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

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. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.08 annualized dividend and a yield of 4.43%. Truist Financial’s dividend payout ratio is currently -145.45%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TFC. Stephens reiterated an “overweight” rating and issued a $50.00 price target on shares of Truist Financial in a report on Tuesday, September 10th. StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Morgan Stanley raised their price target on shares of Truist Financial from $46.00 to $51.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. Wolfe Research upgraded shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a report on Friday, August 9th. Finally, Wells Fargo & Company raised their price objective 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. Twelve research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Truist Financial presently has a consensus rating of “Hold” and a consensus target price of $46.37.

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.