Godsey & Gibb Inc. Reduces Stock Position in Truist Financial Co. (NYSE:TFC)

Godsey & Gibb Inc. lowered its holdings in shares of Truist Financial Co. (NYSE:TFC) by 0.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 459,451 shares of the insurance provider’s stock after selling 2,049 shares during the quarter. Godsey & Gibb Inc.’s holdings in Truist Financial were worth $18,906,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of TFC. Gateway Investment Advisers LLC bought a new stake in Truist Financial during the 1st quarter valued at $205,000. SeaCrest Wealth Management LLC raised its position in Truist Financial by 2.2% during the 1st quarter. SeaCrest Wealth Management LLC now owns 48,231 shares of the insurance provider’s stock valued at $1,985,000 after purchasing an additional 1,057 shares in the last quarter. Procyon Advisors LLC raised its position in Truist Financial by 50.4% during the 1st quarter. Procyon Advisors LLC now owns 24,473 shares of the insurance provider’s stock valued at $917,000 after purchasing an additional 8,204 shares in the last quarter. Avity Investment Management Inc. raised its position in Truist Financial by 3.0% during the 1st quarter. Avity Investment Management Inc. now owns 289,106 shares of the insurance provider’s stock valued at $11,897,000 after purchasing an additional 8,463 shares in the last quarter. Finally, Curat Global LLC bought a new stake in Truist Financial during the 1st quarter valued at $101,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Trading Up 2.6%

Shares of NYSE:TFC opened at $40.66 on Friday. The business’s 50-day moving average is $38.43 and its 200 day moving average is $42.67. Truist Financial Co. has a 1 year low of $33.56 and a 1 year high of $49.06. The firm has a market capitalization of $53.25 billion, a P/E ratio of 12.21, a P/E/G ratio of 1.63 and a beta of 0.84. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83.

Truist Financial (NYSE:TFC) last announced its earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.87. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The company had revenue of $4.95 billion for the quarter, compared to analyst estimates of $4.99 billion. During the same period in the prior year, the company posted $0.90 EPS. On average, research analysts predict that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 9th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.12%. The ex-dividend date was Friday, May 9th. Truist Financial’s dividend payout ratio is presently 61.36%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Wells Fargo & Company decreased their target price on Truist Financial from $52.00 to $50.00 and set an “overweight” rating for the company in a research report on Friday, March 28th. Robert W. Baird raised Truist Financial from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $48.00 to $52.00 in a research report on Wednesday, March 5th. JPMorgan Chase & Co. decreased their price objective on Truist Financial from $48.00 to $42.00 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. Stephens decreased their price objective on Truist Financial from $48.00 to $46.00 and set an “overweight” rating for the company in a research note on Monday, April 21st. Finally, Keefe, Bruyette & Woods decreased their price objective on Truist Financial from $53.00 to $47.00 and set an “outperform” rating for the company in a research note on Monday, April 21st. Nine analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $47.83.

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.