Truist Financial Co. (NYSE:TFC) Shares Sold by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc decreased its holdings in Truist Financial Co. (NYSE:TFCFree Report) by 2.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 65,290 shares of the insurance provider’s stock after selling 1,942 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Truist Financial were worth $2,411,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of TFC. Fairfield Bush & CO. purchased a new stake in Truist Financial during the 1st quarter worth approximately $25,000. OFI Invest Asset Management purchased a new stake in Truist Financial during the 3rd quarter worth approximately $26,000. Operose Advisors LLC purchased a new stake in Truist Financial during the 3rd quarter worth approximately $31,000. Quarry LP purchased a new stake in Truist Financial during the 1st quarter worth approximately $32,000. Finally, Tyler Stone Wealth Management purchased a new stake in Truist Financial during the 3rd quarter worth approximately $33,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Price Performance

TFC stock opened at $37.88 on Wednesday. The firm has a 50 day moving average of $36.53 and a 200-day moving average of $33.65. Truist Financial Co. has a 12-month low of $25.56 and a 12-month high of $39.29. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.74. The company has a market cap of $50.55 billion, a price-to-earnings ratio of -35.07, a PEG ratio of 1.62 and a beta of 1.08.

Truist Financial (NYSE:TFCGet Free Report) last issued its quarterly earnings data on Thursday, January 18th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.13. The firm had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.70 billion. Truist Financial had a positive return on equity of 9.64% and a negative net margin of 3.28%. During the same period in the previous year, the firm posted $1.30 EPS. As a group, equities analysts expect that Truist Financial Co. will post 3.39 EPS for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $2.08 annualized dividend and a dividend yield of 5.49%. Truist Financial’s payout ratio is -192.59%.

Insiders Place Their Bets

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $37.48, for a total value of $141,074.72. Following the transaction, the director now owns 16,132 shares in the company, valued at approximately $604,627.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.17% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Royal Bank of Canada upped their price target on Truist Financial from $40.00 to $42.00 and gave the company an “outperform” rating in a research report on Friday, January 19th. Piper Sandler upped their price target on Truist Financial from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, January 19th. Wells Fargo & Company increased their price objective on Truist Financial from $39.00 to $45.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. TheStreet lowered Truist Financial from a “b-” rating to a “c” rating in a research report on Tuesday, February 20th. Finally, Bank of America upgraded Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 price objective for the company in a research report on Thursday, January 4th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $40.38.

View Our Latest Research Report on TFC

Truist Financial Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Truist Financial (NYSE:TFC)

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