Truist Financial Co. (NYSE:TFC) Shares Sold by Signaturefd LLC

Signaturefd LLC trimmed its holdings in shares of Truist Financial Co. (NYSE:TFC) by 2.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 49,017 shares of the insurance provider’s stock after selling 1,387 shares during the quarter. Signaturefd LLC’s holdings in Truist Financial were worth $2,126,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Signature Wealth Management Group boosted its position in shares of Truist Financial by 0.8% during the fourth quarter. Signature Wealth Management Group now owns 88,156 shares of the insurance provider’s stock worth $3,824,000 after buying an additional 735 shares during the period. GWN Securities Inc. purchased a new position in Truist Financial during the 4th quarter valued at about $202,000. Centurion Wealth Management LLC grew its position in Truist Financial by 3.9% in the 4th quarter. Centurion Wealth Management LLC now owns 13,990 shares of the insurance provider’s stock valued at $607,000 after acquiring an additional 528 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in Truist Financial by 2.6% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 98,896 shares of the insurance provider’s stock worth $4,290,000 after purchasing an additional 2,475 shares during the period. Finally, one8zero8 LLC acquired a new stake in shares of Truist Financial during the fourth quarter worth about $1,785,000. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on TFC shares. Hsbc Global Res upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Keefe, Bruyette & Woods lifted their target price on Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Tuesday, January 21st. Piper Sandler upped their price target on Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Raymond James lifted their price objective on Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Finally, Citigroup upped their target price on shares of Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a research note on Monday, November 25th. Nine investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $51.16.

Truist Financial Stock Performance

NYSE TFC opened at $41.08 on Tuesday. The firm has a market cap of $53.62 billion, a P/E ratio of 12.34, a P/E/G ratio of 1.63 and a beta of 1.08. Truist Financial Co. has a 52-week low of $34.51 and a 52-week high of $49.06. The business’s 50-day moving average price is $45.32 and its 200 day moving average price is $44.54. 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 announced its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, beating 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 company had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.05 billion. During the same period last year, the business posted $0.81 EPS. The company’s revenue was up 3.4% on a year-over-year basis. On average, equities research analysts expect that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 5.06%. The ex-dividend date of this dividend was Friday, February 14th. Truist Financial’s dividend payout ratio (DPR) is presently 62.46%.

About Truist Financial

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.