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

BIP Wealth LLC decreased its holdings in shares of Truist Financial Co. (NYSE:TFC) by 6.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,523 shares of the insurance provider’s stock after selling 614 shares during the quarter. BIP Wealth LLC’s holdings in Truist Financial were worth $315,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in TFC. GAMMA Investing LLC acquired a new position in Truist Financial in the 4th quarter worth $272,000. Linden Thomas Advisory Services LLC lifted its holdings in Truist Financial by 3.1% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 25,620 shares of the insurance provider’s stock worth $946,000 after buying an additional 761 shares in the last quarter. Community Bank & Trust Waco Texas lifted its holdings in Truist Financial by 7.5% in the 4th quarter. Community Bank & Trust Waco Texas now owns 6,729 shares of the insurance provider’s stock worth $248,000 after buying an additional 467 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in Truist Financial by 27.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 7,863 shares of the insurance provider’s stock worth $290,000 after buying an additional 1,690 shares in the last quarter. Finally, Aspire Private Capital LLC lifted its holdings in Truist Financial by 52.2% in the 4th quarter. Aspire Private Capital LLC now owns 12,120 shares of the insurance provider’s stock worth $447,000 after buying an additional 4,158 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on TFC shares. Wells Fargo & Company boosted their price objective on shares of Truist Financial from $39.00 to $45.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Piper Sandler upped their target price on shares of Truist Financial from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, January 19th. Keefe, Bruyette & Woods upped their target price on shares of Truist Financial from $44.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, April 5th. Citigroup upped their target price on shares of Truist Financial from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Bank of America upgraded shares of Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 target price on the stock in a research note on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Truist Financial has a consensus rating of “Moderate Buy” and a consensus price target of $41.97.

Insiders Place Their Bets

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

Truist Financial Stock Performance

Shares of NYSE:TFC traded down $0.89 during trading on Thursday, reaching $37.90. 3,979,556 shares of the company’s stock traded hands, compared to its average volume of 9,621,833. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.82 and a quick ratio of 0.82. Truist Financial Co. has a 12 month low of $25.56 and a 12 month high of $39.29. The company has a 50 day moving average of $36.83 and a 200-day moving average of $34.73. The stock has a market capitalization of $50.58 billion, a P/E ratio of -28.66, a price-to-earnings-growth ratio of 2.45 and a beta of 1.08.

Truist Financial (NYSE:TFC) last posted its earnings results on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.78 by $0.12. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The firm had revenue of $4.87 billion during the quarter, compared to analysts’ expectations of $5.70 billion. During the same quarter in the prior year, the firm earned $1.09 EPS. Truist Financial’s quarterly revenue was down 8.8% on a year-over-year basis. On average, equities analysts expect that Truist Financial Co. will post 3.26 EPS for the current year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 10th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 5.49%. The ex-dividend date of this dividend is Thursday, May 9th. Truist Financial’s dividend payout ratio (DPR) is -157.58%.

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.