Berkeley Capital Partners LLC Sells 469 Shares of Truist Financial Co. (NYSE:TFC)

Berkeley Capital Partners LLC decreased its holdings in Truist Financial Co. (NYSE:TFC) by 1.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 36,185 shares of the insurance provider’s stock after selling 469 shares during the period. Berkeley Capital Partners LLC’s holdings in Truist Financial were worth $1,570,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Bangor Savings Bank lifted 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 worth $25,000 after purchasing an additional 272 shares during the last quarter. Hopwood Financial Services Inc. bought a new stake in Truist Financial in the fourth quarter worth about $26,000. Curio Wealth LLC bought a new stake in Truist Financial in the fourth quarter worth about $45,000. True Wealth Design LLC bought a new stake in Truist Financial in the third quarter worth about $51,000. Finally, City State Bank lifted its stake in Truist Financial by 158.1% in the fourth quarter. City State Bank now owns 1,169 shares of the insurance provider’s stock worth $51,000 after purchasing an additional 716 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Truist Financial Price Performance

NYSE TFC opened at $41.29 on Thursday. The firm’s fifty day simple moving average is $45.20 and its two-hundred day simple moving average is $44.50. 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 Co. has a 12-month low of $35.09 and a 12-month high of $49.06. The firm has a market capitalization of $53.90 billion, a P/E ratio of 12.40, a P/E/G ratio of 1.63 and a beta of 1.08.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.03. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The business had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.05 billion. During the same period in the previous year, the company earned $0.81 earnings per share. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. Analysts forecast that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 5.04%. The ex-dividend date of this dividend was Friday, February 14th. Truist Financial’s dividend payout ratio is currently 62.46%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Robert W. Baird raised shares of Truist Financial from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $48.00 to $52.00 in a research note on Wednesday, March 5th. Stephens raised their price objective on shares of Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Morgan Stanley lifted their price target on shares of Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. The Goldman Sachs Group lifted their price target on shares of Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Piper Sandler lifted their price target on shares of Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Nine investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $51.16.

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.