Truist Financial Co. (NYSE:TFC) Shares Sold by First American Trust FSB

First American Trust FSB cut its stake in shares of Truist Financial Co. (NYSE:TFC) by 10.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,833 shares of the insurance provider’s stock after selling 592 shares during the quarter. First American Trust FSB’s holdings in Truist Financial were worth $210,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TFC. Thrivent Financial for Lutherans boosted its stake in shares of Truist Financial by 17.6% during the 3rd quarter. Thrivent Financial for Lutherans now owns 82,255 shares of the insurance provider’s stock worth $3,518,000 after acquiring an additional 12,300 shares in the last quarter. Quest Partners LLC raised its holdings 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 purchasing an additional 2,129 shares during the last quarter. Intech Investment Management LLC boosted its position in Truist Financial by 34.5% during the third quarter. Intech Investment Management LLC now owns 19,390 shares of the insurance provider’s stock worth $829,000 after purchasing an additional 4,975 shares in the last quarter. Centaurus Financial Inc. increased its position in shares of Truist Financial by 28.2% in the third quarter. Centaurus Financial Inc. now owns 16,168 shares of the insurance provider’s stock valued at $691,000 after buying an additional 3,559 shares in the last quarter. Finally, Summit Trail Advisors LLC raised its stake in shares of Truist Financial by 7.6% during the 3rd quarter. Summit Trail Advisors LLC now owns 15,229 shares of the insurance provider’s stock worth $651,000 after buying an additional 1,081 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. The Goldman Sachs Group raised their target price on shares of Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Barclays raised their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. HSBC raised Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods raised their price target on Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 21st. Finally, Morgan Stanley upped their price objective on Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. Nine equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $50.79.

Truist Financial Price Performance

Shares of Truist Financial stock opened at $41.96 on Wednesday. The stock has a market capitalization of $54.77 billion, a P/E ratio of 12.60, a PEG ratio of 1.63 and a beta of 1.08. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The business’s fifty day moving average price is $45.06 and its 200 day moving average price is $44.45. Truist Financial Co. has a twelve month low of $35.09 and a twelve month high of $49.06.

Truist Financial (NYSE:TFC) last issued its 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 return on equity of 9.32% and a net margin of 15.59%. The business had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.05 billion. During the same quarter in the previous year, the business earned $0.81 EPS. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. As a group, research analysts anticipate that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

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