Whittier Trust Co. Lowers Stake in Truist Financial Co. (NYSE:TFC)

Whittier Trust Co. lessened its stake in Truist Financial Co. (NYSE:TFC) by 7.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,108 shares of the insurance provider’s stock after selling 1,123 shares during the period. Whittier Trust Co.’s holdings in Truist Financial were worth $612,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bangor Savings Bank increased its position in shares of Truist Financial by 92.5% during the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock worth $25,000 after acquiring an additional 272 shares during the period. Hopwood Financial Services Inc. purchased a new position in Truist Financial during the 4th quarter worth $26,000. Curio Wealth LLC purchased a new position in Truist Financial during the 4th quarter worth $45,000. City State Bank raised its position in Truist Financial by 158.1% during the 4th quarter. City State Bank now owns 1,169 shares of the insurance provider’s stock valued at $51,000 after purchasing an additional 716 shares in the last quarter. Finally, True Wealth Design LLC purchased a new stake in shares of Truist Financial in the 3rd quarter worth $51,000. Institutional investors own 71.28% of the company’s stock.

Truist Financial Trading Up 0.2 %

Shares of Truist Financial stock opened at $41.41 on Friday. Truist Financial Co. has a 12-month low of $35.09 and a 12-month high of $49.06. The firm’s 50 day simple moving average is $45.12 and its two-hundred day simple moving average is $44.45. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $54.05 billion, a price-to-earnings ratio of 12.43, a PEG ratio of 1.63 and a beta of 1.08.

Truist Financial (NYSE:TFC) last issued its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) 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 analyst estimates of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the business posted $0.81 EPS. Analysts predict that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a $0.52 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.08 annualized dividend and a yield of 5.02%. Truist Financial’s dividend payout ratio (DPR) is presently 62.46%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on TFC shares. The Goldman Sachs Group lifted their price objective on Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Piper Sandler boosted their price target on shares of Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Barclays increased 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 note on Monday, January 6th. Keefe, Bruyette & Woods boosted their price objective on shares of Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 21st. Finally, Raymond James increased their target price on Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Nine research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $51.16.

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.