Central Bank & Trust Co. Cuts Position in Truist Financial Co. (NYSE:TFC)

Central Bank & Trust Co. lessened its holdings in Truist Financial Co. (NYSE:TFCFree Report) by 22.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,300 shares of the insurance provider’s stock after selling 1,210 shares during the quarter. Central Bank & Trust Co.’s holdings in Truist Financial were worth $159,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fairfield Bush & CO. purchased a new stake in Truist Financial in the first quarter worth about $25,000. Quarry LP purchased a new stake in shares of Truist Financial during the first quarter valued at approximately $32,000. OFI Invest Asset Management purchased a new stake in shares of Truist Financial during the third quarter valued at approximately $26,000. Union Savings Bank purchased a new stake in shares of Truist Financial during the second quarter valued at approximately $36,000. Finally, Operose Advisors LLC purchased a new stake in Truist Financial in the third quarter worth approximately $31,000. Hedge funds and other institutional investors own 71.11% of the company’s stock.

Insider Buying and Selling

In related news, Director K. David Jr. Boyer sold 3,764 shares of Truist Financial stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $37.48, for a total transaction of $141,074.72. Following the completion of the sale, the director now owns 16,132 shares in the company, valued at approximately $604,627.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.31% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on TFC shares. Keefe, Bruyette & Woods raised their target price on shares of Truist Financial from $42.00 to $44.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. TheStreet downgraded shares of Truist Financial from a “b-” rating to a “c” rating in a research report on Tuesday, February 20th. Morgan Stanley increased their price target on shares of Truist Financial from $38.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 30th. Barclays raised their price objective on shares of Truist Financial from $40.00 to $42.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. Finally, Piper Sandler raised their price objective on shares of Truist Financial from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, January 19th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $39.14.

Check Out Our Latest Report on TFC

Truist Financial Stock Performance

Shares of NYSE:TFC opened at $34.86 on Friday. Truist Financial Co. has a 52 week low of $25.56 and a 52 week high of $38.47. The stock has a market capitalization of $46.52 billion, a P/E ratio of -32.28, a PEG ratio of 1.55 and a beta of 1.07. The firm has a fifty day simple moving average of $36.40 and a two-hundred day simple moving average of $33.04. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.74.

Truist Financial (NYSE:TFCGet Free Report) last released its quarterly earnings results on Thursday, January 18th. The insurance provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.13. Truist Financial had a negative net margin of 3.28% and a positive return on equity of 9.64%. The firm had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.70 billion. During the same period in the previous year, the company earned $1.30 EPS. On average, analysts expect that Truist Financial Co. will post 3.35 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.97%. Truist Financial’s dividend payout ratio is presently -192.59%.

About Truist Financial

(Free Report)

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.

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Institutional Ownership by Quarter for Truist Financial (NYSE:TFC)

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