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

Pines Wealth Management LLC decreased its position in Truist Financial Co. (NYSE:TFC) by 2.8% during the 1st quarter, Holdings Channel reports. The firm owned 16,300 shares of the insurance provider’s stock after selling 478 shares during the quarter. Pines Wealth Management LLC’s holdings in Truist Financial were worth $671,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Hopwood Financial Services Inc. purchased a new position in Truist Financial during the 4th quarter valued at about $26,000. Navigoe LLC acquired a new stake in shares of Truist Financial in the fourth quarter valued at approximately $26,000. Curio Wealth LLC acquired a new stake in shares of Truist Financial in the fourth quarter valued at approximately $45,000. TCTC Holdings LLC increased its stake in shares of Truist Financial by 28.1% during the 4th quarter. TCTC Holdings LLC now owns 1,310 shares of the insurance provider’s stock worth $57,000 after purchasing an additional 287 shares in the last quarter. Finally, Pinney & Scofield Inc. acquired a new position in shares of Truist Financial during the 4th quarter worth approximately $57,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Performance

NYSE:TFC opened at $40.66 on Friday. The company has a market cap 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 firm’s 50 day moving average is $38.43 and its two-hundred day moving average is $42.67. Truist Financial Co. has a fifty-two week low of $33.56 and a fifty-two 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.

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

Truist Financial Announces Dividend

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. The ex-dividend date of this dividend was Friday, May 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.12%. Truist Financial’s dividend payout ratio (DPR) is 61.36%.

Analyst Upgrades and Downgrades

TFC has been the topic of a number of recent research reports. Raymond James lowered Truist Financial from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 2nd. Wells Fargo & Company reduced their price objective on Truist Financial from $52.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, March 28th. Wall Street Zen upgraded Truist Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, May 7th. TD Cowen started coverage on shares of Truist Financial in a research note on Thursday, May 15th. They issued a “hold” rating and a $44.00 target price for the company. Finally, Argus set a $43.00 price target on shares of Truist Financial in a report on Monday, April 21st. Nine research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock 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.