Quent Capital LLC decreased its stake in Truist Financial Co. (NYSE:TFC – Free Report) by 22.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,795 shares of the insurance provider’s stock after selling 510 shares during the period. Quent Capital LLC’s holdings in Truist Financial were worth $66,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in TFC. Fairfield Bush & CO. bought a new position in shares of Truist Financial in the 1st quarter worth $25,000. United Bank grew its holdings in shares of Truist Financial by 4.1% during the 1st quarter. United Bank now owns 74,457 shares of the insurance provider’s stock valued at $4,222,000 after purchasing an additional 2,938 shares during the last quarter. Panagora Asset Management Inc. grew its holdings in shares of Truist Financial by 33.3% during the 1st quarter. Panagora Asset Management Inc. now owns 26,365 shares of the insurance provider’s stock valued at $1,495,000 after purchasing an additional 6,593 shares during the last quarter. Vontobel Holding Ltd. grew its holdings in shares of Truist Financial by 3.3% during the 1st quarter. Vontobel Holding Ltd. now owns 22,951 shares of the insurance provider’s stock valued at $1,348,000 after purchasing an additional 738 shares during the last quarter. Finally, Blair William & Co. IL grew its holdings in shares of Truist Financial by 8.1% during the 1st quarter. Blair William & Co. IL now owns 56,690 shares of the insurance provider’s stock valued at $3,214,000 after purchasing an additional 4,234 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.
Truist Financial Stock Up 1.0 %
NYSE:TFC opened at $38.98 on Monday. The company has a 50-day moving average price of $36.50 and a 200-day moving average price of $33.55. Truist Financial Co. has a 12 month low of $25.56 and a 12 month high of $39.29. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.74.
Truist Financial (NYSE:TFC – Get Free Report) last posted its earnings results on Thursday, January 18th. The insurance provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.68 by $0.13. Truist Financial had a negative net margin of 3.28% and a positive return on equity of 9.64%. The firm had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.70 billion. During the same period last year, the company posted $1.30 EPS. On average, research analysts expect that Truist Financial Co. will post 3.39 earnings per share for the current year.
Truist Financial Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were paid a $0.52 dividend. The ex-dividend date was Thursday, February 8th. This represents a $2.08 annualized dividend and a dividend yield of 5.34%. Truist Financial’s payout ratio is -192.59%.
Analyst Ratings Changes
TFC has been the topic of several recent research reports. StockNews.com lowered shares of Truist Financial from a “hold” rating to a “sell” rating in a report on Thursday. Wells Fargo & Company increased their target price on shares of Truist Financial from $39.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday. Morgan Stanley increased their target price on shares of Truist Financial from $38.00 to $43.00 and gave the company an “equal weight” rating in a report on Tuesday, January 30th. Stephens raised shares of Truist Financial from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $41.00 to $43.00 in a research report on Tuesday, March 19th. Finally, Odeon Capital Group raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $40.45 price target for the company in a research report on Thursday, December 14th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $40.38.
Insider Buying and Selling
In related news, Director K. David Jr. Boyer sold 3,764 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $37.48, for a total value of $141,074.72. Following the completion of the transaction, the director now directly owns 16,132 shares in the company, valued at approximately $604,627.36. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.17% of the stock is owned by company insiders.
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.
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Source: defenseworld.net
