Mendel Money Management Lowers Stake in Truist Financial Co. (NYSE:TFC)

Mendel Money Management trimmed its position in shares of Truist Financial Co. (NYSE:TFC) by 10.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,224 shares of the insurance provider’s stock after selling 600 shares during the period. Mendel Money Management’s holdings in Truist Financial were worth $227,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of TFC. Bangor Savings Bank lifted its position in shares of Truist Financial by 92.5% in the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock valued at $25,000 after acquiring an additional 272 shares in the last quarter. Hopwood Financial Services Inc. purchased a new stake in Truist Financial in the 4th quarter worth $26,000. Curio Wealth LLC purchased a new position in shares of Truist Financial during the fourth quarter valued at about $45,000. City State Bank increased its holdings in shares of Truist Financial by 158.1% in the fourth quarter. City State Bank now owns 1,169 shares of the insurance provider’s stock worth $51,000 after purchasing an additional 716 shares during the last quarter. Finally, True Wealth Design LLC bought a new position in Truist Financial during the third quarter valued at approximately $51,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Hsbc Global Res raised shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Baird R W upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Morgan Stanley lifted their price target on Truist Financial from $55.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. HSBC raised Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Tuesday, January 7th. Finally, Citigroup decreased their price target on Truist Financial from $51.00 to $44.00 and set a “neutral” rating on the stock in a report on Monday. Nine equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $50.79.

Truist Financial Stock Down 0.5 %

Shares of Truist Financial stock opened at $41.96 on Wednesday. Truist Financial Co. has a 52-week low of $35.09 and a 52-week high of $49.06. The firm’s 50 day moving average price is $45.06 and its 200-day moving average price is $44.45. 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 company has a market cap of $54.77 billion, a P/E ratio of 12.60, a PEG ratio of 1.63 and a beta of 1.08.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.88 by $0.03. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The firm had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.05 billion. During the same quarter in the prior year, the business posted $0.81 EPS. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, sell-side analysts predict that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.96%. The ex-dividend date of this dividend was Friday, February 14th. Truist Financial’s payout ratio is currently 62.46%.

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.