First National Trust Co Has $3.73 Million Stock Position in Truist Financial Corporation $TFC

First National Trust Co lowered its stake in shares of Truist Financial Corporation (NYSE:TFC) by 61.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 81,575 shares of the insurance provider’s stock after selling 131,299 shares during the period. First National Trust Co’s holdings in Truist Financial were worth $3,730,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC increased its stake in shares of Truist Financial by 148.5% during the 4th quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider’s stock worth $1,023,000 after purchasing an additional 14,093 shares during the last quarter. Woodline Partners LP lifted its stake in Truist Financial by 39.5% in the 1st quarter. Woodline Partners LP now owns 111,177 shares of the insurance provider’s stock valued at $4,575,000 after purchasing an additional 31,454 shares during the last quarter. Sivia Capital Partners LLC bought a new position in Truist Financial during the second quarter worth about $575,000. Vontobel Holding Ltd. grew its holdings in Truist Financial by 3.1% during the second quarter. Vontobel Holding Ltd. now owns 18,369 shares of the insurance provider’s stock worth $790,000 after purchasing an additional 556 shares during the period. Finally, Blair William & Co. IL increased its position in Truist Financial by 9.8% during the second quarter. Blair William & Co. IL now owns 35,511 shares of the insurance provider’s stock worth $1,527,000 after buying an additional 3,173 shares during the last quarter. 71.28% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Truist Financial news, CAO Cynthia B. Powell sold 3,500 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $52.49, for a total transaction of $183,715.00. Following the transaction, the chief accounting officer owned 667 shares in the company, valued at $35,010.83. This trade represents a 83.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael Baron Maguire sold 13,000 shares of the company’s stock in a transaction on Monday, January 26th. The shares were sold at an average price of $50.13, for a total value of $651,690.00. Following the sale, the chief financial officer owned 74,323 shares of the company’s stock, valued at approximately $3,725,811.99. The trade was a 14.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 21,660 shares of company stock worth $1,075,087 in the last 90 days. Company insiders own 0.14% of the company’s stock.

Truist Financial Stock Up 0.6%

TFC opened at $55.09 on Wednesday. Truist Financial Corporation has a fifty-two week low of $33.56 and a fifty-two week high of $56.19. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.86 and a current ratio of 0.87. The company has a market capitalization of $70.47 billion, a P/E ratio of 14.46, a P/E/G ratio of 0.93 and a beta of 0.89. The stock has a fifty day moving average of $50.55 and a 200-day moving average of $46.86.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Wednesday, January 21st. The insurance provider reported $1.00 EPS for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.09). Truist Financial had a return on equity of 9.03% and a net margin of 17.09%.The business had revenue of $5.25 billion for the quarter, compared to the consensus estimate of $5.32 billion. During the same period in the prior year, the business posted $0.91 earnings per share. Truist Financial’s revenue was up 3.6% compared to the same quarter last year. On average, equities analysts expect that Truist Financial Corporation will post 4 EPS for the current year.

Truist Financial declared that its Board of Directors has approved a stock repurchase plan on Tuesday, December 16th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the insurance provider to purchase up to 15.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Friday, February 13th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, February 13th. This represents a $2.08 dividend on an annualized basis and a yield of 3.8%. Truist Financial’s dividend payout ratio is currently 54.59%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Piper Sandler raised their price objective on Truist Financial from $50.00 to $53.00 and gave the company a “neutral” rating in a research report on Thursday, January 22nd. Wall Street Zen cut Truist Financial from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Raymond James Financial raised their price target on Truist Financial from $50.00 to $56.00 and gave the company an “outperform” rating in a report on Wednesday, January 7th. Citigroup upped their price objective on shares of Truist Financial from $60.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, December 31st. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Truist Financial from $49.00 to $53.00 and gave the company a “market perform” rating in a research report on Wednesday, December 17th. Eight equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $55.60.

About Truist Financial

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.