Truist Financial Co. (NYSE:TFC) Shares Sold by Private Trust Co. NA

Private Trust Co. NA trimmed its holdings in Truist Financial Co. (NYSE:TFC) by 18.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 14,024 shares of the insurance provider’s stock after selling 3,128 shares during the period. Private Trust Co. NA’s holdings in Truist Financial were worth $608,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pettyjohn Wood & White Inc. grew its holdings in Truist Financial by 5.4% in the 4th quarter. Pettyjohn Wood & White Inc. now owns 81,082 shares of the insurance provider’s stock valued at $3,517,000 after buying an additional 4,157 shares during the period. Argyle Capital Management LLC grew its holdings in Truist Financial by 5.6% in the 4th quarter. Argyle Capital Management LLC now owns 46,266 shares of the insurance provider’s stock valued at $2,007,000 after buying an additional 2,441 shares during the period. Fort Sheridan Advisors LLC grew its holdings in Truist Financial by 25.3% in the 4th quarter. Fort Sheridan Advisors LLC now owns 26,060 shares of the insurance provider’s stock valued at $1,130,000 after buying an additional 5,255 shares during the period. QRG Capital Management Inc. grew its holdings in Truist Financial by 1.2% in the 4th quarter. QRG Capital Management Inc. now owns 170,143 shares of the insurance provider’s stock valued at $7,381,000 after buying an additional 2,064 shares during the period. Finally, Proficio Capital Partners LLC purchased a new stake in Truist Financial in the 4th quarter valued at about $5,452,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Up 1.4 %

Shares of Truist Financial stock opened at $46.37 on Friday. The business has a 50-day moving average of $45.78 and a 200-day moving average of $44.64. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. The company has a market capitalization of $60.52 billion, a PE ratio of 13.92, a P/E/G ratio of 1.63 and a beta of 1.08. Truist Financial Co. has a 1-year low of $34.51 and a 1-year high of $49.06.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. The business had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.05 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.81 earnings per share. As a group, equities analysts forecast that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.49%. Truist Financial’s dividend payout ratio (DPR) is presently 62.46%.

Analyst Upgrades and Downgrades

TFC has been the subject of several recent analyst reports. Piper Sandler lifted their price target on Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Hsbc Global Res upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Morgan Stanley boosted their target price on Truist Financial from $55.00 to $56.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. HSBC upgraded Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a report on Tuesday, January 7th. Finally, StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, January 17th. Eleven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Truist Financial has an average rating of “Moderate Buy” and a consensus target price of $50.79.

Insider Transactions at Truist Financial

In other Truist Financial news, Director K. David Jr. Boyer sold 4,966 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total transaction of $229,429.20. Following the sale, the director now owns 11,246 shares in the company, valued at $519,565.20. This represents a 30.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.17% of the company’s stock.

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.