Truist Financial Co. (NYSE:TFC) Holdings Cut by Atticus Wealth Management LLC

Atticus Wealth Management LLC lowered its holdings in Truist Financial Co. (NYSE:TFCFree Report) by 3.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,888 shares of the insurance provider’s stock after selling 588 shares during the period. Atticus Wealth Management LLC’s holdings in Truist Financial were worth $587,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. First PREMIER Bank raised its holdings in shares of Truist Financial by 36.7% during the fourth quarter. First PREMIER Bank now owns 3,000 shares of the insurance provider’s stock valued at $111,000 after buying an additional 806 shares during the last quarter. Jamison Private Wealth Management Inc. raised its holdings in shares of Truist Financial by 0.4% during the fourth quarter. Jamison Private Wealth Management Inc. now owns 122,625 shares of the insurance provider’s stock valued at $4,527,000 after buying an additional 509 shares during the last quarter. Kingswood Wealth Advisors LLC bought a new stake in shares of Truist Financial during the fourth quarter valued at approximately $445,000. CVA Family Office LLC bought a new stake in shares of Truist Financial during the fourth quarter valued at approximately $219,000. Finally, Financiere des Professionnels Fonds d investissement inc. raised its holdings in shares of Truist Financial by 32.5% during the fourth quarter. Financiere des Professionnels Fonds d investissement inc. now owns 127,417 shares of the insurance provider’s stock valued at $4,704,000 after buying an additional 31,223 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TFC. Barclays lifted their price target on Truist Financial from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Tuesday, January 2nd. TheStreet lowered shares of Truist Financial from a “b-” rating to a “c” rating in a research note on Tuesday, February 20th. Morgan Stanley raised their price objective on shares of Truist Financial from $38.00 to $43.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 30th. UBS Group lifted their price target on shares of Truist Financial from $37.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Finally, Bank of America upgraded shares of Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 price target on the stock in a research report on Thursday, January 4th. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.47.

View Our Latest Stock Report on TFC

Insider Activity at Truist Financial

In related news, Director K. David Jr. Boyer sold 3,764 shares of Truist Financial stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $37.48, for a total value of $141,074.72. Following the completion of the sale, the director now owns 16,132 shares of the company’s stock, valued at approximately $604,627.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.17% of the stock is owned by company insiders.

Truist Financial Stock Performance

Shares of NYSE:TFC opened at $37.60 on Wednesday. The firm has a fifty day moving average of $36.33 and a two-hundred day moving average of $33.33. The firm has a market capitalization of $50.18 billion, a P/E ratio of -34.81, a price-to-earnings-growth ratio of 1.58 and a beta of 1.07. Truist Financial Co. has a 12-month low of $25.56 and a 12-month high of $38.55. 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 issued its earnings results on Thursday, January 18th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.13. The company had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.70 billion. Truist Financial had a negative net margin of 3.28% and a positive return on equity of 9.64%. During the same quarter last year, the business posted $1.30 EPS. On average, equities analysts expect that Truist Financial Co. will post 3.39 EPS for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 5.53%. The ex-dividend date of this dividend was Thursday, February 8th. Truist Financial’s payout ratio is presently -192.59%.

Truist Financial Company Profile

(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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