Bryn Mawr Trust Advisors LLC Sells 13,328 Shares of Truist Financial Corporation $TFC

Bryn Mawr Trust Advisors LLC decreased its holdings in Truist Financial Corporation (NYSE:TFC) by 5.3% in the fourth quarter, Holdings Channel reports. The firm owned 240,036 shares of the insurance provider’s stock after selling 13,328 shares during the quarter. Bryn Mawr Trust Advisors LLC’s holdings in Truist Financial were worth $11,812,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of TFC. Advisor OS LLC purchased a new position in shares of Truist Financial in the 4th quarter worth $211,000. Midwest Trust Co boosted its stake in shares of Truist Financial by 0.9% in the 4th quarter. Midwest Trust Co now owns 289,759 shares of the insurance provider’s stock worth $14,259,000 after buying an additional 2,497 shares during the last quarter. LRI Investments LLC boosted its stake in shares of Truist Financial by 23.5% in the 4th quarter. LRI Investments LLC now owns 5,511 shares of the insurance provider’s stock worth $271,000 after buying an additional 1,050 shares during the last quarter. NewEdge Wealth LLC boosted its stake in shares of Truist Financial by 43.5% in the 4th quarter. NewEdge Wealth LLC now owns 35,875 shares of the insurance provider’s stock worth $1,765,000 after buying an additional 10,883 shares during the last quarter. Finally, American Assets Investment Management LLC boosted its stake in shares of Truist Financial by 781.3% in the 4th quarter. American Assets Investment Management LLC now owns 3,384,000 shares of the insurance provider’s stock worth $166,527,000 after buying an additional 3,000,000 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Truist Financial Price Performance

Shares of Truist Financial stock opened at $49.09 on Friday. The stock’s 50-day simple moving average is $48.06 and its 200-day simple moving average is $48.48. Truist Financial Corporation has a 52 week low of $38.27 and a 52 week high of $56.19. The company has a market capitalization of $61.16 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 0.84 and a beta of 0.92. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Friday, April 17th. The insurance provider reported $1.09 EPS for the quarter, beating the consensus estimate of $1.00 by $0.09. The business had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.18 billion. Truist Financial had a return on equity of 9.55% and a net margin of 18.14%.The business’s revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.87 earnings per share. As a group, analysts expect that Truist Financial Corporation will post 4.52 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 8th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date is Friday, May 8th. Truist Financial’s payout ratio is currently 51.61%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on TFC. Robert W. Baird downgraded Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 price target on the stock. in a research note on Friday, May 1st. Weiss Ratings upgraded Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. Morgan Stanley dropped their price target on Truist Financial from $63.00 to $62.00 and set an “overweight” rating on the stock in a research note on Monday, April 20th. TD Cowen lifted their target price on Truist Financial from $59.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Finally, JPMorgan Chase & Co. lowered their target price on Truist Financial from $57.00 to $51.50 and set a “neutral” rating on the stock in a research report on Tuesday, April 7th. Nine research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $55.59.

Truist Financial Company Profile

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.