Truist Financial Co. (NYSE:TFC) Shares Sold by PDS Planning Inc

PDS Planning Inc lessened its position in shares of Truist Financial Co. (NYSE:TFC) by 17.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,627 shares of the insurance provider’s stock after selling 945 shares during the quarter. PDS Planning Inc’s holdings in Truist Financial were worth $201,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in TFC. Natixis Advisors LLC lifted its holdings in shares of Truist Financial by 7.3% in the third quarter. Natixis Advisors LLC now owns 451,576 shares of the insurance provider’s stock valued at $19,314,000 after purchasing an additional 30,626 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in Truist Financial by 17.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 82,255 shares of the insurance provider’s stock valued at $3,518,000 after buying an additional 12,300 shares in the last quarter. Quest Partners LLC grew its holdings in Truist Financial by 81.1% during the 3rd quarter. Quest Partners LLC now owns 4,754 shares of the insurance provider’s stock valued at $203,000 after buying an additional 2,129 shares during the last quarter. Pathstone Holdings LLC increased its position in Truist Financial by 0.5% during the third quarter. Pathstone Holdings LLC now owns 166,827 shares of the insurance provider’s stock worth $7,135,000 after buying an additional 890 shares in the last quarter. Finally, Prospera Private Wealth LLC raised its holdings in shares of Truist Financial by 4.0% in the third quarter. Prospera Private Wealth LLC now owns 16,739 shares of the insurance provider’s stock worth $716,000 after acquiring an additional 642 shares during the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Truist Financial Stock Up 1.1 %

Shares of Truist Financial stock opened at $41.29 on Thursday. The company has a fifty day moving average price of $45.20 and a 200 day moving average price of $44.50. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. Truist Financial Co. has a twelve month low of $35.09 and a twelve month high of $49.06. The stock has a market cap of $53.90 billion, a price-to-earnings ratio of 12.40, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08.

Truist Financial (NYSE:TFC) last announced its earnings results on Friday, January 17th. The insurance provider reported $0.91 EPS 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 business 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. Equities research analysts forecast that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company also recently declared 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. This represents a $2.08 annualized dividend and a yield of 5.04%. The ex-dividend date of this dividend was Friday, February 14th. Truist Financial’s dividend payout ratio (DPR) is 62.46%.

Wall Street Analyst Weigh In

TFC has been the subject of a number of recent research reports. Piper Sandler lifted their price objective on Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Hsbc Global Res raised shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Barclays upped their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Compass Point lifted their target price on shares of Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Finally, Baird R W upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Nine investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $51.16.

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.