Truist Financial Co. (NYSE:TFC) Shares Sold by Congress Wealth Management LLC DE

Congress Wealth Management LLC DE lessened its holdings in shares of Truist Financial Co. (NYSE:TFC) by 2.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 42,031 shares of the insurance provider’s stock after selling 845 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Truist Financial were worth $1,823,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Quest Partners LLC increased its stake in Truist Financial by 81.1% during the 3rd quarter. Quest Partners LLC now owns 4,754 shares of the insurance provider’s stock valued at $203,000 after buying an additional 2,129 shares during the period. Intech Investment Management LLC increased its stake in shares of Truist Financial by 34.5% during the third quarter. Intech Investment Management LLC now owns 19,390 shares of the insurance provider’s stock valued at $829,000 after acquiring an additional 4,975 shares during the period. Fisher Asset Management LLC raised its holdings in Truist Financial by 4.5% during the third quarter. Fisher Asset Management LLC now owns 7,995 shares of the insurance provider’s stock worth $342,000 after purchasing an additional 345 shares in the last quarter. Loomis Sayles & Co. L P lifted its position in Truist Financial by 835.8% in the third quarter. Loomis Sayles & Co. L P now owns 16,947 shares of the insurance provider’s stock worth $725,000 after purchasing an additional 15,136 shares during the period. Finally, Brown Brothers Harriman & Co. boosted its stake in Truist Financial by 10.7% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 20,023 shares of the insurance provider’s stock valued at $856,000 after purchasing an additional 1,940 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TFC. Baird R W upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Stephens upped their price target on shares of Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Barclays lifted their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. Raymond James increased their target price on shares of Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Finally, HSBC raised Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a report on Tuesday, January 7th. Nine equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $50.79.

Truist Financial Stock Performance

TFC stock opened at $41.97 on Thursday. Truist Financial Co. has a 52 week low of $35.09 and a 52 week high of $49.06. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. The stock has a market cap of $54.79 billion, a P/E 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 $45.00 and a 200 day simple moving average of $44.43.

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

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a $0.52 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.96%. Truist Financial’s dividend payout ratio is currently 62.46%.

Truist Financial Company 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.