First Horizon Advisors Inc. Sells 280 Shares of Truist Financial Co. (NYSE:TFC)

First Horizon Advisors Inc. decreased its position in shares of Truist Financial Co. (NYSE:TFC) by 1.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,116 shares of the insurance provider’s stock after selling 280 shares during the period. First Horizon Advisors Inc.’s holdings in Truist Financial were worth $743,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Bangor Savings Bank lifted its stake in Truist Financial by 92.5% during the fourth 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 last quarter. Valley Wealth Managers Inc. bought a new stake in Truist Financial during the third quarter worth $26,000. MidAtlantic Capital Management Inc. bought a new stake in Truist Financial during the third quarter worth $32,000. Fortitude Family Office LLC lifted its stake in Truist Financial by 376.7% during the third quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 678 shares during the last quarter. Finally, Ashton Thomas Securities LLC bought a new stake in Truist Financial during the third quarter worth $45,000. 71.28% of the stock is owned by institutional investors.

Insider Transactions at Truist Financial

In related news, Director K. David Jr. Boyer sold 4,966 shares of Truist Financial stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 11,246 shares in the company, valued at approximately $519,565.20. The trade was a 30.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.17% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. HSBC upgraded Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Tuesday, January 7th. The Goldman Sachs Group upped their target price on Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Wells Fargo & Company upped their price target on shares of Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, 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 report on Tuesday, December 3rd. Eleven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $50.79.

Truist Financial Price Performance

Shares of NYSE TFC opened at $45.31 on Tuesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. The stock has a market cap of $60.15 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 1.63 and a beta of 1.08. Truist Financial Co. has a fifty-two week low of $34.26 and a fifty-two week high of $49.06. The firm’s 50-day simple moving average is $45.61 and its 200 day simple moving average is $44.54.

Truist Financial (NYSE:TFC) last posted 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. The firm had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter last year, the business posted $0.81 EPS. As a group, research 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 declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be paid a dividend of $0.52 per share. The ex-dividend date is Friday, February 14th. This represents a $2.08 annualized dividend and a dividend yield of 4.59%. 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.