Truist Financial Co. (NYSE:TFC) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC reduced its holdings in Truist Financial Co. (NYSE:TFC) by 2.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 673,299 shares of the insurance provider’s stock after selling 17,059 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Truist Financial were worth $29,208,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in TFC. Bangor Savings Bank increased its stake in Truist Financial by 92.5% in the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 272 shares during the last quarter. Valley Wealth Managers Inc. acquired a new position in Truist Financial in the third quarter valued at $26,000. Hopwood Financial Services Inc. acquired a new position in Truist Financial in the fourth quarter valued at $26,000. MidAtlantic Capital Management Inc. acquired a new position in Truist Financial in the third quarter valued at $32,000. Finally, True Wealth Design LLC acquired a new position in Truist Financial in the third quarter valued at $51,000. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. The Goldman Sachs Group upped their target price on Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Hsbc Global Res raised Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Morgan Stanley boosted 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. Baird R W raised Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Finally, StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. Nine analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Truist Financial presently has a consensus rating of “Moderate Buy” and an average target price of $51.16.

Truist Financial Trading Up 2.7 %

Shares of TFC opened at $40.54 on Friday. The company has a market capitalization of $52.92 billion, a P/E ratio of 12.17, a P/E/G ratio of 1.63 and a beta of 1.08. Truist Financial Co. has a one year low of $34.51 and a one year high of $49.06. 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 50-day moving average price of $45.38 and a 200 day moving average price of $44.56.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. The firm had revenue of $5.11 billion during 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%. Truist Financial’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.81 earnings per share. Sell-side analysts forecast that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 5.13%. The ex-dividend date of this dividend was Friday, February 14th. 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.