Trust Investment Advisors Has $841,000 Stock Holdings in Truist Financial Co. (NYSE:TFC)

Trust Investment Advisors reduced its holdings in shares of Truist Financial Co. (NYSE:TFC) by 22.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 19,381 shares of the insurance provider’s stock after selling 5,517 shares during the period. Trust Investment Advisors’ holdings in Truist Financial were worth $841,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on TFC shares. Citigroup dropped their price target on shares of Truist Financial from $51.00 to $44.00 and set a “neutral” rating on the stock in a research report on Monday. Morgan Stanley boosted their target price on Truist Financial from $55.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 21st. Stephens increased their price target on Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. Finally, The Goldman Sachs Group raised their target price on Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Nine 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 company. According to MarketBeat, Truist Financial currently has an average rating of “Moderate Buy” and a consensus target price of $50.79.

Truist Financial Stock Down 0.5 %

Truist Financial stock opened at $41.96 on Wednesday. The firm has a market capitalization of $54.77 billion, a price-to-earnings ratio of 12.60, a P/E/G ratio of 1.63 and a beta of 1.08. The firm has a 50 day simple moving average of $45.06 and a 200 day simple moving average of $44.45. Truist Financial Co. has a 1-year low of $35.09 and a 1-year high of $49.06. 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 released its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The company 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 posted $0.81 EPS. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, analysts predict that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.96%. The ex-dividend date was Friday, February 14th. Truist Financial’s dividend payout ratio (DPR) is presently 62.46%.

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.