Lafayette Investments Inc. Sells 3,118 Shares of Truist Financial Co. (NYSE:TFC)

Lafayette Investments Inc. reduced its stake in Truist Financial Co. (NYSE:TFC) by 39.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,727 shares of the insurance provider’s stock after selling 3,118 shares during the period. Lafayette Investments Inc.’s holdings in Truist Financial were worth $205,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Guggenheim Capital LLC raised its stake in Truist Financial by 7.3% during the fourth quarter. Guggenheim Capital LLC now owns 359,510 shares of the insurance provider’s stock worth $15,596,000 after acquiring an additional 24,548 shares in the last quarter. Canada Post Corp Registered Pension Plan bought a new position in Truist Financial during the 4th quarter valued at about $7,937,000. Broyhill Asset Management acquired a new position in Truist Financial in the fourth quarter valued at about $693,000. Mariner LLC grew its stake in Truist Financial by 1.5% during the fourth quarter. Mariner LLC now owns 432,961 shares of the insurance provider’s stock worth $18,782,000 after buying an additional 6,340 shares during the last quarter. Finally, SageView Advisory Group LLC acquired a new stake in shares of Truist Financial during the fourth quarter worth approximately $240,000. 71.28% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on TFC. Morgan Stanley decreased their price target on Truist Financial from $50.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Monday, April 7th. StockNews.com lowered Truist Financial from a “hold” rating to a “sell” rating in a research note on Saturday. Wells Fargo & Company reduced their price target on shares of Truist Financial from $52.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, March 28th. 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 report on Tuesday, January 7th. Finally, Barclays upped their target price on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Truist Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.22.

Truist Financial Trading Up 2.3 %

Shares of NYSE TFC opened at $36.20 on Tuesday. Truist Financial Co. has a twelve month low of $33.56 and a twelve month high of $49.06. The stock has a market cap of $47.26 billion, a price-to-earnings ratio of 10.87, a P/E/G ratio of 1.63 and a beta of 0.91. 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 company’s fifty day moving average is $42.13 and its 200-day moving average is $43.97.

Truist Financial (NYSE:TFC) last posted its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.03. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The firm 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 earnings per share. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. Equities research analysts predict that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were paid a dividend of $0.52 per share. The ex-dividend date was Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a yield of 5.75%. Truist Financial’s payout ratio is 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.