Truist Financial Co. (NYSE:TFC) Stock Holdings Decreased by Taylor Hoffman Wealth Management

Taylor Hoffman Wealth Management lowered its position in shares of Truist Financial Co. (NYSE:TFC) by 3.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,669 shares of the insurance provider’s stock after selling 415 shares during the quarter. Taylor Hoffman Wealth Management’s holdings in Truist Financial were worth $394,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in TFC. OFI Invest Asset Management acquired a new stake in shares of Truist Financial in the third quarter worth $26,000. Operose Advisors LLC purchased a new position in Truist Financial during the 3rd quarter valued at about $31,000. Tyler Stone Wealth Management purchased a new stake in shares of Truist Financial in the third quarter worth approximately $33,000. Morton Brown Family Wealth LLC boosted its holdings in shares of Truist Financial by 236.0% during the fourth quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 649 shares during the period. Finally, Northwest Financial Advisors purchased a new position in Truist Financial during the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Performance

NYSE TFC traded down $0.18 during trading on Friday, hitting $39.97. The company’s stock had a trading volume of 5,698,623 shares, compared to its average volume of 7,635,339. Truist Financial Co. has a 52 week low of $26.57 and a 52 week high of $40.51. The firm has a market cap of $53.48 billion, a P/E ratio of -30.28, a price-to-earnings-growth ratio of 1.99 and a beta of 1.07. The firm has a 50 day moving average price of $37.88 and a 200 day moving average price of $35.94. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.75.

Truist Financial (NYSE:TFC) last announced its earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, topping 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 negative net margin of 4.28% and a positive return on equity of 9.15%. Truist Financial’s revenue was down 8.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.09 earnings per share. Equities research analysts forecast that Truist Financial Co. will post 3.36 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 10th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 5.20%. The ex-dividend date is Thursday, May 9th. Truist Financial’s payout ratio is presently -157.58%.

Insider Buying and Selling

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 completion of the sale, the director now owns 16,132 shares in the company, valued at approximately $604,627.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.17% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on TFC. TheStreet downgraded shares of Truist Financial from a “b-” rating to a “c” rating in a research report on Tuesday, February 20th. Compass Point raised Truist Financial from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $34.00 to $42.00 in a research report on Tuesday, April 23rd. Barclays assumed coverage on Truist Financial in a research note on Thursday. They issued an “equal weight” rating and a $43.00 target price on the stock. JPMorgan Chase & Co. raised their price target on Truist Financial from $39.50 to $40.50 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Finally, Evercore ISI restated an “in-line” rating and issued a $44.00 price objective on shares of Truist Financial in a report on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $43.17.

About Truist Financial

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.