Plimoth Trust Co. LLC Sells 675 Shares of Truist Financial Co. (NYSE:TFC)

Plimoth Trust Co. LLC reduced its stake in Truist Financial Co. (NYSE:TFC) by 3.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 20,517 shares of the insurance provider’s stock after selling 675 shares during the quarter. Plimoth Trust Co. LLC’s holdings in Truist Financial were worth $890,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of TFC. Bangor Savings Bank raised its holdings in Truist Financial by 92.5% in the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 272 shares during the period. Valley Wealth Managers Inc. bought a new stake in Truist Financial during the third quarter valued at about $26,000. MidAtlantic Capital Management Inc. bought a new stake in Truist Financial during the third quarter valued at about $32,000. Fortitude Family Office LLC raised its holdings in Truist Financial by 376.7% during the third quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock valued at $37,000 after acquiring an additional 678 shares during the period. Finally, Ashton Thomas Securities LLC bought a new stake in Truist Financial during the third quarter valued at about $45,000. 71.28% of the stock is owned by institutional investors.

Truist Financial Trading Up 1.5 %

NYSE:TFC traded up $0.72 during midday trading on Wednesday, hitting $47.99. The stock had a trading volume of 694,329 shares, compared to its average volume of 7,347,280. Truist Financial Co. has a one year low of $34.23 and a one year high of $49.06. The company has a market capitalization of $63.70 billion, a price-to-earnings ratio of 14.42, a PEG ratio of 1.67 and a beta of 1.08. The stock has a 50-day moving average of $45.51 and a 200 day moving average of $44.00. 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 (NYSE:TFC) last posted its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. The company had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. Truist Financial’s revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.81 earnings per share. As a group, sell-side analysts forecast that Truist Financial Co. will post 3.95 EPS for the current year.

Truist Financial Dividend Announcement

The firm also recently disclosed 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 4.33%. Truist Financial’s dividend payout ratio is presently 62.46%.

Insider Activity

In other Truist Financial news, CEO William H. Rogers, Jr. acquired 34,180 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was purchased at an average price of $48.56 per share, for a total transaction of $1,659,780.80. Following the acquisition, the chief executive officer now owns 691,451 shares in the company, valued at approximately $33,576,860.56. This trade represents a 5.20 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director K. David Jr. Boyer sold 4,966 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total value of $229,429.20. Following the sale, the director now owns 11,246 shares of the company’s stock, valued at approximately $519,565.20. This represents a 30.63 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. The Goldman Sachs Group raised their price target on Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. UBS Group raised their price target on Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a report on Friday, October 18th. Compass Point raised their price target on Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Piper Sandler raised their price target on Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Finally, Barclays raised their price objective on Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. Eleven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Truist Financial currently has an average rating of “Moderate Buy” and a consensus target price of $50.79.

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.