Truist Financial Co. (NYSE:TFC) Shares Sold by Vaughan David Investments LLC IL

Vaughan David Investments LLC IL lowered its stake in shares of Truist Financial Co. (NYSE:TFC) by 6.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,952 shares of the insurance provider’s stock after selling 840 shares during the period. Vaughan David Investments LLC IL’s holdings in Truist Financial were worth $518,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. State Street Corp raised its position in shares of Truist Financial by 4.6% in the 3rd quarter. State Street Corp now owns 61,864,957 shares of the insurance provider’s stock worth $2,645,964,000 after buying an additional 2,720,223 shares during the period. KBC Group NV increased its stake in Truist Financial by 96.9% during the fourth quarter. KBC Group NV now owns 2,031,893 shares of the insurance provider’s stock worth $88,144,000 after acquiring an additional 999,763 shares during the last quarter. HighTower Advisors LLC lifted its stake in shares of Truist Financial by 26.1% in the 3rd quarter. HighTower Advisors LLC now owns 3,901,891 shares of the insurance provider’s stock valued at $166,892,000 after purchasing an additional 807,648 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Truist Financial by 8.5% during the 4th quarter. Bank of New York Mellon Corp now owns 8,484,992 shares of the insurance provider’s stock worth $368,079,000 after purchasing an additional 662,179 shares during the period. Finally, LPL Financial LLC grew its holdings in shares of Truist Financial by 21.0% during the 3rd quarter. LPL Financial LLC now owns 3,630,761 shares of the insurance provider’s stock worth $155,288,000 after purchasing an additional 630,628 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analyst Ratings Changes

TFC has been the topic of a number of recent research reports. The Goldman Sachs Group lifted their price target on shares of Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Citigroup lifted their target price on shares of Truist Financial from $47.00 to $51.00 and gave the company a “neutral” rating in a report on Monday, November 25th. Piper Sandler upped their price target on shares of Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Stephens raised their price objective on Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Finally, HSBC raised Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research report on Tuesday, January 7th. Eleven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $50.79.

Insider Transactions at Truist Financial

In other Truist Financial news, Director K. David Jr. Boyer sold 4,966 shares of the stock in a transaction 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 sale, the director now directly owns 11,246 shares of the company’s stock, valued at $519,565.20. This trade represents a 30.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.17% of the company’s stock.

Truist Financial Trading Down 0.2 %

Shares of NYSE TFC opened at $45.25 on Wednesday. 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 stock’s 50 day moving average price is $45.61 and its two-hundred day moving average price is $44.57. Truist Financial Co. has a 52-week low of $34.26 and a 52-week high of $49.06. The stock has a market capitalization of $60.06 billion, a P/E ratio of 13.59, a PEG ratio of 1.63 and a beta of 1.08.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The company had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.05 billion. During the same period last year, the firm posted $0.81 EPS. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. On average, analysts anticipate that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.60%. The ex-dividend date of this dividend is Friday, February 14th. Truist Financial’s dividend payout ratio (DPR) is presently 62.46%.

Truist Financial 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.