Truist Financial Co. (NYSE:TFC) Holdings Lowered by Bryn Mawr Capital Management LLC

Bryn Mawr Capital Management LLC trimmed its stake in shares of Truist Financial Co. (NYSE:TFC) by 6.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 228,278 shares of the insurance provider’s stock after selling 16,376 shares during the period. Bryn Mawr Capital Management LLC’s holdings in Truist Financial were worth $8,428,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of TFC. Avior Wealth Management LLC lifted its holdings in shares of Truist Financial by 62.3% during the third quarter. Avior Wealth Management LLC now owns 5,453 shares of the insurance provider’s stock valued at $156,000 after purchasing an additional 2,093 shares during the last quarter. Strategic Blueprint LLC lifted its stake in Truist Financial by 16.2% in the 3rd quarter. Strategic Blueprint LLC now owns 14,259 shares of the insurance provider’s stock worth $408,000 after acquiring an additional 1,991 shares in the last quarter. Caprock Group LLC lifted its stake in Truist Financial by 79.6% in the 3rd quarter. Caprock Group LLC now owns 32,832 shares of the insurance provider’s stock worth $939,000 after acquiring an additional 14,550 shares in the last quarter. Koshinski Asset Management Inc. lifted its stake in Truist Financial by 12.7% in the 3rd quarter. Koshinski Asset Management Inc. now owns 13,220 shares of the insurance provider’s stock worth $378,000 after acquiring an additional 1,487 shares in the last quarter. Finally, Ballast Inc. lifted its stake in Truist Financial by 25.6% in the 3rd quarter. Ballast Inc. now owns 38,900 shares of the insurance provider’s stock worth $1,113,000 after acquiring an additional 7,918 shares in the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Bank of America raised Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 price objective for the company in a research note on Thursday, January 4th. Piper Sandler increased their price objective on Truist Financial from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, January 19th. TheStreet downgraded Truist Financial from a “b-” rating to a “c” rating in a research note on Tuesday, February 20th. Morgan Stanley reaffirmed an “equal weight” rating and set a $43.00 price target on shares of Truist Financial in a research note on Monday, April 22nd. Finally, Stephens reaffirmed an “overweight” rating and set a $43.00 price target on shares of Truist Financial in a research note on Tuesday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $41.97.

Truist Financial Trading Up 0.5 %

Shares of NYSE TFC opened at $38.17 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.82 and a quick ratio of 0.82. The business’s 50-day simple moving average is $36.90 and its 200-day simple moving average is $34.82. Truist Financial Co. has a 52 week low of $25.56 and a 52 week high of $39.29.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.12. The business had revenue of $4.87 billion for the quarter, compared to analyst estimates of $5.70 billion. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The firm’s revenue for the quarter was down 8.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.09 EPS. On average, analysts forecast that Truist Financial Co. will post 3.27 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 10th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.45%. The ex-dividend date is Thursday, May 9th. Truist Financial’s dividend payout ratio is -157.58%.

Insider Buying and Selling at Truist Financial

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $37.48, for a total value of $141,074.72. Following the sale, the director now owns 16,132 shares of the company’s stock, valued at approximately $604,627.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.17% of the company’s stock.

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.