Truist Financial Corporation $TFC Position Lessened by Colonial Trust Co SC

Colonial Trust Co SC decreased its position in shares of Truist Financial Corporation (NYSE:TFC) by 37.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 36,008 shares of the insurance provider’s stock after selling 21,318 shares during the period. Colonial Trust Co SC’s holdings in Truist Financial were worth $1,772,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Maseco LLP lifted its holdings in shares of Truist Financial by 53.8% during the 4th quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock valued at $32,000 after buying an additional 228 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC increased its holdings in Truist Financial by 190.7% in the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 657 shares of the insurance provider’s stock worth $32,000 after buying an additional 431 shares during the last quarter. Ancora Advisors LLC increased its holdings in Truist Financial by 259.1% in the third quarter. Ancora Advisors LLC now owns 693 shares of the insurance provider’s stock worth $32,000 after buying an additional 500 shares during the last quarter. Bare Financial Services Inc raised its position in Truist Financial by 56.9% during the fourth quarter. Bare Financial Services Inc now owns 822 shares of the insurance provider’s stock valued at $40,000 after acquiring an additional 298 shares in the last quarter. Finally, Quest 10 Wealth Builders Inc. lifted its stake in Truist Financial by 2,178.4% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 843 shares of the insurance provider’s stock valued at $42,000 after acquiring an additional 806 shares during the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Trading Up 1.9%

NYSE:TFC opened at $50.72 on Friday. The company’s 50 day moving average is $49.00 and its 200-day moving average is $49.14. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70. Truist Financial Corporation has a 12 month low of $38.83 and a 12 month high of $56.19. The firm has a market cap of $63.20 billion, a price-to-earnings ratio of 12.59, a P/E/G ratio of 0.85 and a beta of 0.89.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Friday, April 17th. The insurance provider reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.09. The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.18 billion. Truist Financial had a net margin of 18.14% and a return on equity of 9.55%. Truist Financial’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.87 EPS. Equities analysts anticipate that Truist Financial Corporation will post 4.52 EPS for the current year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 8th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend was Friday, May 8th. Truist Financial’s dividend payout ratio (DPR) is currently 51.61%.

Analyst Ratings Changes

TFC has been the subject of several recent research reports. Morgan Stanley decreased their target price on shares of Truist Financial from $63.00 to $62.00 and set an “overweight” rating for the company in a research report on Monday, April 20th. Robert W. Baird lowered shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 price objective for the company. in a research note on Friday, May 1st. Jefferies Financial Group reiterated a “mixed” rating and issued a $45.00 price objective on shares of Truist Financial in a report on Friday, April 17th. Wall Street Zen raised shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Saturday, May 23rd. Finally, Royal Bank Of Canada raised their target price on Truist Financial from $51.00 to $53.00 and gave the company an “outperform” rating in a report on Monday, April 20th. Nine research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $55.59.

Truist Financial Company Profile

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.