SVB Wealth LLC Sells 334 Shares of Truist Financial Co. (NYSE:TFC)

SVB Wealth LLC trimmed its position in shares of Truist Financial Co. (NYSE:TFC) by 1.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,827 shares of the insurance provider’s stock after selling 334 shares during the quarter. SVB Wealth LLC’s holdings in Truist Financial were worth $769,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bleakley Financial Group LLC lifted its holdings in shares of Truist Financial by 6.1% during the 4th quarter. Bleakley Financial Group LLC now owns 29,890 shares of the insurance provider’s stock valued at $1,104,000 after buying an additional 1,731 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in Truist Financial by 53.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 338,972 shares of the insurance provider’s stock worth $12,515,000 after purchasing an additional 117,524 shares during the period. International Assets Investment Management LLC raised its holdings in Truist Financial by 3,359.6% in the 4th quarter. International Assets Investment Management LLC now owns 1,045,560 shares of the insurance provider’s stock worth $38,602,000 after purchasing an additional 1,015,338 shares during the period. Douglas Lane & Associates LLC raised its holdings in Truist Financial by 6.3% in the 3rd quarter. Douglas Lane & Associates LLC now owns 1,544,537 shares of the insurance provider’s stock worth $44,189,000 after purchasing an additional 91,579 shares during the period. Finally, Loudon Investment Management LLC raised its holdings in Truist Financial by 18.5% in the 3rd quarter. Loudon Investment Management LLC now owns 131,398 shares of the insurance provider’s stock worth $3,759,000 after purchasing an additional 20,490 shares during the period. 71.28% of the stock is owned by institutional investors.

Truist Financial Trading Up 3.1 %

Shares of Truist Financial stock opened at $36.80 on Friday. The firm has a market cap of $49.11 billion, a price-to-earnings ratio of -34.07, a PEG ratio of 2.20 and a beta of 1.08. Truist Financial Co. has a twelve month low of $25.56 and a twelve month high of $39.29. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.74. The business has a 50-day moving average price of $36.64 and a 200-day moving average price of $34.44.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Thursday, January 18th. The insurance provider reported $0.81 EPS for the quarter, topping the consensus estimate 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 positive return on equity of 9.64% and a negative net margin of 3.28%. During the same quarter last year, the business posted $1.30 earnings per share. Equities research analysts anticipate that Truist Financial Co. will post 3.33 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were given a $0.52 dividend. The ex-dividend date was Thursday, February 8th. This represents a $2.08 annualized dividend and a yield of 5.65%. Truist Financial’s dividend payout ratio is currently -192.59%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TFC. Barclays raised their target price on Truist Financial from $40.00 to $42.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 2nd. HSBC raised their target price on Truist Financial from $37.00 to $39.00 and gave the stock a “hold” rating in a report on Thursday, March 28th. UBS Group raised their target price on Truist Financial from $45.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Raymond James increased their price target on Truist Financial from $34.00 to $41.00 and gave the stock an “outperform” rating in a research note on Friday, January 5th. Finally, StockNews.com lowered Truist Financial from a “hold” rating to a “sell” rating in a research note on Thursday, March 28th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Truist Financial has an average rating of “Hold” and an average target price of $41.47.

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 stock was sold at an average price of $37.48, for a total value of $141,074.72. Following the completion of the transaction, the director now owns 16,132 shares in the company, valued at $604,627.36. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.17% of the stock is currently owned by company insiders.

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.