Truist Financial Co. (NYSE:TFC) Shares Sold by TD Private Client Wealth LLC

TD Private Client Wealth LLC decreased its stake in Truist Financial Co. (NYSE:TFC) by 1.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 75,985 shares of the insurance provider’s stock after selling 1,400 shares during the period. TD Private Client Wealth LLC’s holdings in Truist Financial were worth $3,296,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TFC. Thrivent Financial for Lutherans lifted its stake in shares of Truist Financial by 17.6% in the third quarter. Thrivent Financial for Lutherans now owns 82,255 shares of the insurance provider’s stock valued at $3,518,000 after purchasing an additional 12,300 shares during the period. Quest Partners LLC raised its position in Truist Financial by 81.1% during the third quarter. Quest Partners LLC now owns 4,754 shares of the insurance provider’s stock worth $203,000 after acquiring an additional 2,129 shares during the last quarter. Pathstone Holdings LLC raised its position in Truist Financial by 0.5% during the third quarter. Pathstone Holdings LLC now owns 166,827 shares of the insurance provider’s stock worth $7,135,000 after acquiring an additional 890 shares during the last quarter. Citizens Financial Group Inc. RI raised its position in Truist Financial by 10.9% during the third quarter. Citizens Financial Group Inc. RI now owns 9,548 shares of the insurance provider’s stock worth $408,000 after acquiring an additional 938 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in Truist Financial by 7.7% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 483,801 shares of the insurance provider’s stock worth $20,692,000 after acquiring an additional 34,543 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Price Performance

TFC opened at $41.41 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. Truist Financial Co. has a 52-week low of $35.09 and a 52-week high of $49.06. The company has a 50 day moving average of $45.12 and a two-hundred day moving average of $44.45. The company has a market cap of $54.05 billion, a P/E ratio of 12.43, a P/E/G ratio of 1.63 and a beta of 1.08.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $5.05 billion. During the same period in the previous year, the firm earned $0.81 earnings per share. Truist Financial’s revenue for the quarter was up 3.4% on a year-over-year basis. On average, analysts expect that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.02%. Truist Financial’s payout ratio is currently 62.46%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TFC. Compass Point lifted their target price on shares of Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Keefe, Bruyette & Woods lifted their target price on shares of Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 21st. Morgan Stanley lifted their target price on shares of Truist Financial from $55.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. Citigroup boosted their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the company a “neutral” rating in a research report on Monday, November 25th. Finally, Hsbc Global Res raised shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Nine equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $51.16.

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.