Farther Finance Advisors LLC Sells 2,167 Shares of Truist Financial Co. (NYSE:TFC)

Farther Finance Advisors LLC lessened its position in Truist Financial Co. (NYSE:TFC) by 13.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,376 shares of the insurance provider’s stock after selling 2,167 shares during the period. Farther Finance Advisors LLC’s holdings in Truist Financial were worth $624,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of TFC. Bangor Savings Bank lifted its stake in shares of Truist Financial by 92.5% during the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock worth $25,000 after buying an additional 272 shares during the last quarter. Valley Wealth Managers Inc. acquired a new stake in shares of Truist Financial during the 3rd quarter worth about $26,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Truist Financial during the 3rd quarter worth about $32,000. City State Bank lifted its stake in shares of Truist Financial by 158.1% during the 4th quarter. City State Bank now owns 1,169 shares of the insurance provider’s stock worth $51,000 after buying an additional 716 shares during the last quarter. Finally, True Wealth Design LLC acquired a new stake in shares of Truist Financial during the 3rd quarter worth about $51,000. Institutional investors own 71.28% of the company’s stock.

Truist Financial Trading Up 2.7 %

Shares of Truist Financial stock opened at $40.54 on Friday. The firm has a market capitalization of $52.92 billion, a PE ratio of 12.17, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The firm’s 50 day moving average is $45.38 and its 200 day moving average is $44.56. Truist Financial Co. has a 1 year low of $34.51 and a 1 year high of $49.06.

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, beating the consensus estimate of $0.88 by $0.03. The company had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The firm’s revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.81 EPS. Equities research analysts forecast that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 5.13%. The ex-dividend date was Friday, February 14th. Truist Financial’s dividend payout ratio (DPR) is presently 62.46%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on TFC shares. Baird R W upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. The Goldman Sachs Group lifted their price objective on shares of Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Compass Point lifted their price objective on shares of Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Finally, HSBC upgraded shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Tuesday, January 7th. Nine analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Truist Financial currently has an average rating of “Moderate Buy” and a consensus price target of $51.16.

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.