Truist Financial Co. (NYSE:TFC) Position Lessened by Cypress Capital Group

Cypress Capital Group reduced its stake in shares of Truist Financial Co. (NYSE:TFC) by 4.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,772 shares of the insurance provider’s stock after selling 414 shares during the period. Cypress Capital Group’s holdings in Truist Financial were worth $424,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Tradewinds LLC. raised its holdings in Truist Financial by 0.5% during the third quarter. Tradewinds LLC. now owns 44,513 shares of the insurance provider’s stock valued at $1,904,000 after buying an additional 222 shares in the last quarter. PBMares Wealth Management LLC raised its holdings in Truist Financial by 0.8% during the fourth quarter. PBMares Wealth Management LLC now owns 29,270 shares of the insurance provider’s stock valued at $1,270,000 after buying an additional 224 shares in the last quarter. Koshinski Asset Management Inc. raised its holdings in Truist Financial by 2.1% during the fourth quarter. Koshinski Asset Management Inc. now owns 10,825 shares of the insurance provider’s stock valued at $470,000 after buying an additional 225 shares in the last quarter. Aaron Wealth Advisors LLC raised its holdings in Truist Financial by 3.0% during the fourth quarter. Aaron Wealth Advisors LLC now owns 7,712 shares of the insurance provider’s stock valued at $335,000 after buying an additional 227 shares in the last quarter. Finally, Ignite Planners LLC raised its holdings in Truist Financial by 1.4% during the fourth quarter. Ignite Planners LLC now owns 17,499 shares of the insurance provider’s stock valued at $772,000 after buying an additional 246 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Stock Performance

NYSE:TFC opened at $43.11 on Thursday. Truist Financial Co. has a 1 year low of $34.51 and a 1 year high of $49.06. The firm has a 50 day moving average of $45.79 and a 200-day moving average of $44.67. 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 stock has a market capitalization of $56.27 billion, a P/E ratio of 12.94, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08.

Truist Financial (NYSE:TFC) last posted its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $5.05 billion. During the same quarter in the previous year, the company posted $0.81 earnings per share. Truist Financial’s quarterly revenue was up 3.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.83%. The ex-dividend date was Friday, February 14th. Truist Financial’s dividend payout ratio (DPR) is currently 62.46%.

Analyst Ratings Changes

TFC has been the topic of several recent research reports. Stephens raised their target price on Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Wells Fargo & Company raised their price target on Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Piper Sandler raised their price target on Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Hsbc Global Res raised Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Finally, Morgan Stanley raised their price target 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. Ten investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $51.16.

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.