Dakota Wealth Management Sells 5,282 Shares of Truist Financial Co. (NYSE:TFC)

Dakota Wealth Management lowered its holdings in shares of Truist Financial Co. (NYSE:TFC) by 4.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 113,523 shares of the insurance provider’s stock after selling 5,282 shares during the quarter. Dakota Wealth Management’s holdings in Truist Financial were worth $4,191,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the business. Fairfield Bush & CO. purchased a new stake in shares of Truist Financial in the first quarter valued at $25,000. United Bank increased its position in Truist Financial by 4.1% during the 1st quarter. United Bank now owns 74,457 shares of the insurance provider’s stock valued at $4,222,000 after purchasing an additional 2,938 shares during the period. Panagora Asset Management Inc. increased its position in Truist Financial by 33.3% during the 1st quarter. Panagora Asset Management Inc. now owns 26,365 shares of the insurance provider’s stock valued at $1,495,000 after purchasing an additional 6,593 shares during the period. Vontobel Holding Ltd. increased its position in Truist Financial by 3.3% during the 1st quarter. Vontobel Holding Ltd. now owns 22,951 shares of the insurance provider’s stock valued at $1,348,000 after purchasing an additional 738 shares during the period. Finally, Blair William & Co. IL increased its position in Truist Financial by 8.1% during the 1st quarter. Blair William & Co. IL now owns 56,690 shares of the insurance provider’s stock valued at $3,214,000 after purchasing an additional 4,234 shares during the period. Institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Performance

TFC opened at $36.71 on Tuesday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $48.99 billion, a PE ratio of -33.99, a P/E/G ratio of 2.27 and a beta of 1.08. The firm has a 50 day moving average of $36.64 and a two-hundred day moving average of $34.31. Truist Financial Co. has a 12-month low of $25.56 and a 12-month high of $39.29.

Truist Financial (NYSE:TFC) last posted its earnings results on Thursday, January 18th. The insurance provider reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.13. The firm had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.70 billion. Truist Financial had a negative net margin of 3.28% and a positive return on equity of 9.64%. During the same period in the previous year, the firm earned $1.30 EPS. On average, analysts anticipate that Truist Financial Co. will post 3.33 EPS for the current year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 5.67%. The ex-dividend date was Thursday, February 8th. Truist Financial’s payout ratio is presently -192.59%.

Analyst Upgrades and Downgrades

A number of research firms have commented on TFC. StockNews.com downgraded shares of Truist Financial from a “hold” rating to a “sell” rating in a research report on Thursday, March 28th. Raymond James raised their price target on shares of Truist Financial from $34.00 to $41.00 and gave the company an “outperform” rating in a report on Friday, January 5th. TheStreet cut shares of Truist Financial from a “b-” rating to a “c” rating in a report on Tuesday, February 20th. HSBC lifted their target price on shares of Truist Financial from $37.00 to $39.00 and gave the stock a “hold” rating in a research note on Thursday, March 28th. Finally, Wells Fargo & Company lifted their target price on shares of Truist Financial from $39.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Truist Financial currently has a consensus rating of “Hold” and a consensus target price of $41.47.

Insider Buying and Selling

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of Truist Financial stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $37.48, for a total transaction of $141,074.72. Following the sale, the director now owns 16,132 shares of the company’s stock, valued at approximately $604,627.36. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.17% of the stock is owned by insiders.

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.