Midland Wealth Advisors LLC Sells 1,782 Shares of Truist Financial Co. (NYSE:TFC)

Midland Wealth Advisors LLC reduced its position in Truist Financial Co. (NYSE:TFC) by 10.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 16,023 shares of the insurance provider’s stock after selling 1,782 shares during the period. Midland Wealth Advisors LLC’s holdings in Truist Financial were worth $695,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. FWG Holdings LLC increased its position in Truist Financial by 4.3% in the fourth quarter. FWG Holdings LLC now owns 5,694 shares of the insurance provider’s stock worth $267,000 after purchasing an additional 234 shares during the period. NBT Bank N A NY boosted its stake in shares of Truist Financial by 3.0% in the 4th quarter. NBT Bank N A NY now owns 12,515 shares of the insurance provider’s stock valued at $543,000 after purchasing an additional 366 shares during the last quarter. SLT Holdings LLC acquired a new stake in shares of Truist Financial during the 4th quarter worth approximately $482,000. Sound View Wealth Advisors Group LLC raised its stake in shares of Truist Financial by 3.3% during the fourth quarter. Sound View Wealth Advisors Group LLC now owns 28,126 shares of the insurance provider’s stock worth $1,220,000 after buying an additional 901 shares during the last quarter. Finally, AlphaQuest LLC lifted its holdings in Truist Financial by 127.7% in the fourth quarter. AlphaQuest LLC now owns 10,824 shares of the insurance provider’s stock valued at $470,000 after buying an additional 6,070 shares during the period. Institutional investors own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on TFC shares. Citigroup lifted their target price on shares of Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a report on Monday, November 25th. Raymond James upped their price objective on Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Baird R W upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Wells Fargo & Company boosted their target price on Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Finally, The Goldman Sachs Group increased their price target on shares of Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Nine research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Truist Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.16.

Truist Financial Stock Up 0.0 %

Shares of Truist Financial stock opened at $42.25 on Monday. The firm has a market cap of $55.15 billion, a PE ratio of 12.69, a P/E/G ratio of 1.63 and a beta of 1.08. The business’s 50 day simple moving average is $45.73 and its 200 day simple moving average is $44.69. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. Truist Financial Co. has a 52-week low of $34.51 and a 52-week high of $49.06.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The business had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.05 billion. During the same quarter in the previous year, the firm posted $0.81 earnings per share. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. On average, analysts predict that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.92%. The ex-dividend date was Friday, February 14th. Truist Financial’s payout ratio is 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.