Compass Ion Advisors LLC Sells 24,343 Shares of Truist Financial Co. (NYSE:TFC)

Compass Ion Advisors LLC lowered its stake in shares of Truist Financial Co. (NYSE:TFC) by 53.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,008 shares of the insurance provider’s stock after selling 24,343 shares during the quarter. Compass Ion Advisors LLC’s holdings in Truist Financial were worth $911,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Bangor Savings Bank lifted its stake in shares of Truist Financial by 92.5% during the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock valued at $25,000 after acquiring an additional 272 shares during the period. Hopwood Financial Services Inc. acquired a new position in Truist Financial during the 4th quarter valued at about $26,000. MidAtlantic Capital Management Inc. bought a new position in shares of Truist Financial in the 3rd quarter valued at about $32,000. Curio Wealth LLC acquired a new stake in shares of Truist Financial during the 4th quarter worth approximately $45,000. Finally, True Wealth Design LLC bought a new stake in shares of Truist Financial during the third quarter worth approximately $51,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on TFC. Hsbc Global Res raised shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Compass Point raised their price target on Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, January 17th. Morgan Stanley raised 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. Finally, Barclays upped their price target on Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Nine investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $51.16.

Truist Financial Stock Down 0.5 %

TFC stock opened at $40.84 on Wednesday. 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 stock has a market capitalization of $53.32 billion, a P/E ratio of 12.27, a P/E/G ratio of 1.63 and a beta of 1.08. Truist Financial Co. has a fifty-two week low of $35.06 and a fifty-two week high of $49.06. The business has a 50-day moving average of $45.26 and a 200-day moving average of $44.52.

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. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The firm had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.05 billion. During the same quarter in the prior year, the firm posted $0.81 EPS. The business’s revenue was up 3.4% on a year-over-year basis. On average, sell-side analysts anticipate that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a $0.52 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.08 annualized dividend and a yield of 5.09%. Truist Financial’s payout ratio is currently 62.46%.

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.