Marino Stram & Associates LLC Sells 438 Shares of Truist Financial Co. (NYSE:TFC)

Marino Stram & Associates LLC trimmed its position in Truist Financial Co. (NYSE:TFC) by 2.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,878 shares of the insurance provider’s stock after selling 438 shares during the quarter. Marino Stram & Associates LLC’s holdings in Truist Financial were worth $808,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. EPG Wealth Management LLC grew its position in Truist Financial by 1.8% in the fourth quarter. EPG Wealth Management LLC now owns 12,219 shares of the insurance provider’s stock worth $526,000 after acquiring an additional 213 shares in the last quarter. Williams Jones Wealth Management LLC. grew its position in Truist Financial by 5.8% in the first quarter. Williams Jones Wealth Management LLC. now owns 4,850 shares of the insurance provider’s stock worth $275,000 after acquiring an additional 268 shares in the last quarter. Financial Advocates Investment Management grew its position in Truist Financial by 3.5% in the fourth quarter. Financial Advocates Investment Management now owns 9,071 shares of the insurance provider’s stock worth $390,000 after acquiring an additional 306 shares in the last quarter. Day & Ennis LLC grew its position in Truist Financial by 4.3% in the fourth quarter. Day & Ennis LLC now owns 7,525 shares of the insurance provider’s stock worth $278,000 after acquiring an additional 311 shares in the last quarter. Finally, Farmers & Merchants Trust Co of Chambersburg PA grew its position in Truist Financial by 32.0% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,333 shares of the insurance provider’s stock worth $49,000 after acquiring an additional 323 shares in the last quarter. 71.28% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on TFC shares. Piper Sandler lifted their price target on Truist Financial from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, January 19th. Bank of America upgraded Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 target price for the company in a research report on Thursday, January 4th. HSBC boosted their target price on Truist Financial from $37.00 to $39.00 and gave the company a “hold” rating in a research report on Thursday, March 28th. Wells Fargo & Company boosted their target price on Truist Financial from $39.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Finally, Royal Bank of Canada boosted their target price on Truist Financial from $40.00 to $42.00 and gave the company an “outperform” rating in a research report on Friday, January 19th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, Truist Financial presently has an average rating of “Hold” and a consensus target price of $41.47.

Truist Financial Stock Down 2.6 %

NYSE:TFC traded down $0.97 during trading hours on Tuesday, reaching $35.73. The company’s stock had a trading volume of 7,846,122 shares, compared to its average volume of 9,652,963. The company has a market capitalization of $47.68 billion, a P/E ratio of -33.10, a price-to-earnings-growth ratio of 2.27 and a beta of 1.08. Truist Financial Co. has a 12 month low of $25.56 and a 12 month high of $39.29. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a 50 day moving average price of $36.64 and a two-hundred day moving average price of $34.31.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Thursday, January 18th. The insurance provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.13. The company had revenue of $5.70 billion during the quarter, compared to the consensus estimate 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 quarter in the previous year, the firm posted $1.30 earnings per share. Equities analysts predict that Truist Financial Co. will post 3.33 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 9th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.82%. The ex-dividend date was Thursday, February 8th. Truist Financial’s payout ratio is presently -192.59%.

Insider Transactions at Truist Financial

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

Truist Financial Company 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.