Truist Financial Co. (NYSE:TFC) Shares Sold by V Square Quantitative Management LLC

V Square Quantitative Management LLC lowered its position in Truist Financial Co. (NYSE:TFC) by 3.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 27,510 shares of the insurance provider’s stock after selling 1,090 shares during the quarter. V Square Quantitative Management LLC’s holdings in Truist Financial were worth $1,193,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Bangor Savings Bank increased its stake in shares of Truist Financial by 92.5% during 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 in the last quarter. Valley Wealth Managers Inc. acquired a new position in shares of Truist Financial in the 3rd quarter valued at $26,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Truist Financial in the 3rd quarter valued at $32,000. Fortitude Family Office LLC boosted its holdings in shares of Truist Financial by 376.7% in the 3rd quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock valued at $37,000 after purchasing an additional 678 shares during the last quarter. Finally, Ashton Thomas Securities LLC acquired a new position in shares of Truist Financial during the 3rd quarter valued at $45,000. 71.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Truist Financial

In related news, CEO William H. Rogers, Jr. acquired 34,180 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were bought at an average cost of $48.56 per share, with a total value of $1,659,780.80. Following the completion of the acquisition, the chief executive officer now owns 691,451 shares of the company’s stock, valued at $33,576,860.56. This trade represents a 5.20 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director K. David Jr. Boyer sold 4,966 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was 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 $519,565.20. The trade was a 30.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.17% of the company’s stock.

Truist Financial Price Performance

TFC opened at $46.80 on Friday. Truist Financial Co. has a 1 year low of $34.26 and a 1 year high of $49.06. The stock has a fifty day moving average price of $45.54 and a 200 day moving average price of $44.33. The stock has a market cap of $62.13 billion, a price-to-earnings ratio of 14.06, a PEG ratio of 1.69 and a beta of 1.08. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61.

Truist Financial (NYSE:TFC) last announced its quarterly 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 analysts’ expectations of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.81 earnings per share. Analysts forecast that Truist Financial Co. will post 3.98 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors 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 yield of 4.44%. Truist Financial’s dividend payout ratio is 62.46%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Raymond James lifted their target price on shares of Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Barclays boosted their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. HSBC raised shares of 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. Keefe, Bruyette & Woods boosted their target price on shares of Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a research note on Tuesday, January 21st. Finally, Citigroup upped their price target on shares of Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a research note on Monday, November 25th. Eleven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $50.79.

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.