Bristlecone Advisors LLC Sells 2,101 Shares of Truist Financial Co. (NYSE:TFC)

Bristlecone Advisors LLC trimmed its holdings in Truist Financial Co. (NYSE:TFC) by 24.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,338 shares of the insurance provider’s stock after selling 2,101 shares during the quarter. Bristlecone Advisors LLC’s holdings in Truist Financial were worth $275,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ferguson Wellman Capital Management Inc. raised its holdings in Truist Financial by 5.7% during the 4th quarter. Ferguson Wellman Capital Management Inc. now owns 5,452 shares of the insurance provider’s stock worth $237,000 after purchasing an additional 294 shares during the last quarter. Savant Capital LLC raised its holdings in Truist Financial by 22.3% during the 4th quarter. Savant Capital LLC now owns 73,966 shares of the insurance provider’s stock worth $3,209,000 after purchasing an additional 13,482 shares during the last quarter. HTLF Bank bought a new stake in Truist Financial during the 4th quarter worth about $200,000. Newbridge Financial Services Group Inc. raised its holdings in Truist Financial by 785.1% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 4,452 shares of the insurance provider’s stock worth $193,000 after purchasing an additional 3,949 shares during the last quarter. Finally, Kestra Private Wealth Services LLC raised its holdings in Truist Financial by 6.2% during the 4th quarter. Kestra Private Wealth Services LLC now owns 81,324 shares of the insurance provider’s stock worth $3,528,000 after purchasing an additional 4,725 shares during the last quarter. 71.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on TFC shares. Morgan Stanley boosted their price objective on Truist Financial from $55.00 to $56.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. JPMorgan Chase & Co. upped their price target on Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Keefe, Bruyette & Woods upped their price target on Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a research note on Tuesday, January 21st. UBS Group upped their price target on Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Finally, Hsbc Global Res raised Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Eleven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $50.79.

Truist Financial Trading Down 1.1 %

NYSE:TFC opened at $47.15 on Tuesday. Truist Financial Co. has a twelve month low of $34.23 and a twelve month high of $49.06. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. The business has a 50 day moving average price of $45.53 and a two-hundred day moving average price of $44.26. The company has a market cap of $62.60 billion, a P/E ratio of 14.16, a price-to-earnings-growth ratio of 1.69 and a beta of 1.08.

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. As a group, analysts expect that Truist Financial Co. will post 3.98 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.41%. The ex-dividend date of this dividend is Friday, February 14th. Truist Financial’s payout ratio is presently 62.46%.

Insider Activity

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

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.