Bare Financial Services Inc Sells 590 Shares of Truist Financial Co. (NYSE:TFC)

Bare Financial Services Inc cut its holdings in Truist Financial Co. (NYSE:TFC) by 24.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,813 shares of the insurance provider’s stock after selling 590 shares during the period. Bare Financial Services Inc’s holdings in Truist Financial were worth $79,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently modified their holdings of TFC. Hopwood Financial Services Inc. purchased a new position in shares of Truist Financial during the fourth quarter valued at approximately $26,000. EverSource Wealth Advisors LLC boosted its stake in Truist Financial by 24.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 10,320 shares of the insurance provider’s stock valued at $448,000 after buying an additional 2,055 shares during the period. Sequoia Financial Advisors LLC increased its holdings in shares of Truist Financial by 1.8% in the 4th quarter. Sequoia Financial Advisors LLC now owns 35,097 shares of the insurance provider’s stock worth $1,523,000 after buying an additional 616 shares during the last quarter. HighTower Advisors LLC increased its position in shares of Truist Financial by 5.6% during the 4th quarter. HighTower Advisors LLC now owns 4,119,723 shares of the insurance provider’s stock valued at $178,714,000 after purchasing an additional 217,832 shares during the last quarter. Finally, Citizens Financial Group Inc. RI grew its stake in shares of Truist Financial by 53.3% during the fourth quarter. Citizens Financial Group Inc. RI now owns 14,633 shares of the insurance provider’s stock valued at $635,000 after buying an additional 5,085 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TFC. StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. Robert W. Baird upgraded Truist Financial from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $48.00 to $52.00 in a research note on Wednesday, March 5th. Citigroup raised their price target on Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a research note on Monday, November 25th. Piper Sandler upped their target price on shares of Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Finally, Wells Fargo & Company increased their target price 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. Nine equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $51.16.

Truist Financial Trading Down 1.0 %

Shares of TFC stock opened at $39.96 on Wednesday. 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 business has a fifty day simple moving average of $45.60 and a 200-day simple moving average of $44.65. Truist Financial Co. has a fifty-two week low of $34.51 and a fifty-two week high of $49.06. The stock has a market cap of $52.16 billion, a P/E ratio of 12.00, a P/E/G 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.03. The business had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The business’s revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.81 earnings per share. On average, analysts forecast that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.21%. The ex-dividend date of this dividend was Friday, February 14th. Truist Financial’s payout ratio is 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.