Price T Rowe Associates Inc. MD Sells 5,935 Shares of Truist Financial Co. (NYSE:TFC)

Price T Rowe Associates Inc. MD reduced its position in shares of Truist Financial Co. (NYSE:TFC) by 0.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,721,370 shares of the insurance provider’s stock after selling 5,935 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.20% of Truist Financial worth $118,054,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. World Investment Advisors LLC raised its stake in Truist Financial by 19.4% in the 3rd quarter. World Investment Advisors LLC now owns 14,486 shares of the insurance provider’s stock valued at $620,000 after acquiring an additional 2,355 shares during the period. Arvest Bank Trust Division bought a new position in shares of Truist Financial in the third quarter valued at about $1,960,000. Wilmington Savings Fund Society FSB lifted its stake in shares of Truist Financial by 28.3% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 323,849 shares of the insurance provider’s stock worth $13,851,000 after buying an additional 71,393 shares during the last quarter. Tidal Investments LLC boosted its holdings in shares of Truist Financial by 6.9% during the 3rd quarter. Tidal Investments LLC now owns 62,803 shares of the insurance provider’s stock worth $2,686,000 after buying an additional 4,029 shares during the period. Finally, Synovus Financial Corp grew its stake in Truist Financial by 27.1% in the 3rd quarter. Synovus Financial Corp now owns 556,243 shares of the insurance provider’s stock valued at $23,791,000 after buying an additional 118,692 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Performance

Truist Financial stock opened at $37.68 on Monday. The stock has a market cap of $49.19 billion, a PE ratio of 11.32, a P/E/G ratio of 1.63 and a beta of 0.91. 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 Co. has a 12-month low of $33.56 and a 12-month high of $49.06. The business’s 50-day moving average price is $40.22 and its two-hundred day moving average price is $43.62.

Truist Financial (NYSE:TFC) last posted its earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.87. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The firm had revenue of $4.95 billion for the quarter, compared to analysts’ expectations of $4.99 billion. During the same quarter in the previous year, the firm posted $0.90 earnings per share. As a group, analysts expect that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a $0.52 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.08 annualized dividend and a yield of 5.52%. Truist Financial’s dividend payout ratio is presently 61.36%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TFC. Barclays cut their price objective on shares of Truist Financial from $51.00 to $47.00 and set an “equal weight” rating for the company in a research report on Monday, April 21st. JPMorgan Chase & Co. reduced their price target on Truist Financial from $48.00 to $42.00 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. StockNews.com cut Truist Financial from a “hold” rating to a “sell” rating in a research report on Monday. Robert W. Baird raised shares of Truist Financial from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $48.00 to $52.00 in a research report on Wednesday, March 5th. Finally, HSBC raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Truist Financial presently has an average rating of “Moderate Buy” and a consensus target price of $47.83.

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.