New York State Teachers Retirement System Decreases Stake in Truist Financial Co. (NYSE:TFC)

New York State Teachers Retirement System decreased its position in Truist Financial Co. (NYSE:TFC) by 5.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,015,885 shares of the insurance provider’s stock after selling 55,329 shares during the period. New York State Teachers Retirement System owned approximately 0.08% of Truist Financial worth $44,069,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bangor Savings Bank increased its holdings in shares of 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 during the period. Valley Wealth Managers Inc. bought a new stake in shares of Truist Financial during the third quarter worth $26,000. MidAtlantic Capital Management Inc. acquired a new stake in Truist Financial in the third quarter valued at $32,000. Fortitude Family Office LLC lifted its stake in shares of Truist Financial by 376.7% during the 3rd quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock worth $37,000 after buying an additional 678 shares during the last quarter. Finally, Ashton Thomas Securities LLC bought a new position in Truist Financial during the third quarter worth about $45,000. 71.28% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on TFC shares. HSBC upgraded shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Tuesday, January 7th. Barclays increased their price objective on Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. Wells Fargo & Company upped their price target on shares of Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Finally, Compass Point upped their price objective on Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Eleven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $50.79.

Insider Transactions at Truist Financial

In other news, CEO William H. Rogers, Jr. acquired 34,180 shares of the stock in a transaction on Monday, November 25th. The stock was bought at an average price of $48.56 per share, with a total value of $1,659,780.80. Following the completion of the transaction, the chief executive officer now directly owns 691,451 shares of the company’s stock, valued at $33,576,860.56. The trade was a 5.20 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director K. David Jr. Boyer sold 4,966 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total value of $229,429.20. Following the transaction, the director now owns 11,246 shares in the company, valued at $519,565.20. This trade represents a 30.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.17% of the company’s stock.

Truist Financial Stock Up 0.7 %

Shares of TFC stock opened at $46.80 on Friday. The company’s fifty day simple moving average is $45.54 and its two-hundred day simple moving average is $44.33. Truist Financial Co. has a 52 week low of $34.26 and a 52 week high of $49.06. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. The stock has a market cap of $62.13 billion, a P/E ratio of 14.06, a PEG ratio of 1.69 and a beta of 1.08.

Truist Financial (NYSE:TFC) last posted its quarterly 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 business had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The business’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the company posted $0.81 earnings per share. Analysts predict that Truist Financial Co. will post 3.98 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date of this dividend is Friday, February 14th. Truist Financial’s dividend payout ratio (DPR) 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.