Citizens & Northern Corp Sells 15,396 Shares of Truist Financial Co. (NYSE:TFC)

Citizens & Northern Corp decreased its stake in shares of Truist Financial Co. (NYSE:TFC) by 32.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,716 shares of the insurance provider’s stock after selling 15,396 shares during the period. Citizens & Northern Corp’s holdings in Truist Financial were worth $1,208,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Valmark Advisers Inc. grew its stake in shares of Truist Financial by 2.2% during the 4th quarter. Valmark Advisers Inc. now owns 12,965 shares of the insurance provider’s stock valued at $479,000 after acquiring an additional 277 shares during the period. St. Johns Investment Management Company LLC boosted its position in shares of Truist Financial by 0.9% in the fourth quarter. St. Johns Investment Management Company LLC now owns 32,255 shares of the insurance provider’s stock worth $1,191,000 after purchasing an additional 296 shares during the period. Mechanics Financial Corp raised its position in shares of Truist Financial by 7.4% during the 4th quarter. Mechanics Financial Corp now owns 4,345 shares of the insurance provider’s stock valued at $160,000 after purchasing an additional 300 shares during the period. Day & Ennis LLC lifted its stake in shares of Truist Financial by 4.3% during the 4th quarter. Day & Ennis LLC now owns 7,525 shares of the insurance provider’s stock valued at $278,000 after buying an additional 311 shares in the last quarter. Finally, Carson Advisory Inc. boosted its holdings in Truist Financial by 1.5% in the 4th quarter. Carson Advisory Inc. now owns 21,928 shares of the insurance provider’s stock worth $810,000 after buying an additional 315 shares during the period. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Trading Down 2.1 %

Shares of NYSE TFC traded down $0.80 during trading hours on Thursday, hitting $38.09. 3,025,582 shares of the company traded hands, compared to its average volume of 9,010,319. The stock has a market capitalization of $50.97 billion, a price-to-earnings ratio of -28.92, a price-to-earnings-growth ratio of 1.97 and a beta of 1.07. The company’s 50 day moving average price is $38.01 and its 200 day moving average price is $36.19. Truist Financial Co. has a 12 month low of $26.57 and a 12 month high of $40.51. The company has a current ratio of 0.82, a quick 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 for the quarter, beating the consensus estimate of $0.78 by $0.12. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The business had revenue of $4.87 billion for the quarter, compared to the consensus estimate of $5.70 billion. During the same quarter in the prior year, the firm posted $1.09 earnings per share. The business’s revenue for the quarter was down 8.8% on a year-over-year basis. On average, equities research analysts anticipate that Truist Financial Co. will post 3.34 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 10th will be given a dividend of $0.52 per share. The ex-dividend date is Thursday, May 9th. This represents a $2.08 annualized dividend and a dividend yield of 5.46%. Truist Financial’s dividend payout ratio (DPR) is presently -157.58%.

Analyst Ratings Changes

A number of equities research analysts have commented on TFC shares. Keefe, Bruyette & Woods raised their price target on Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a report on Wednesday, May 8th. Citigroup boosted their price target on Truist Financial from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. JPMorgan Chase & Co. lifted their price objective on shares of Truist Financial from $39.50 to $40.50 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. HSBC upped their target price on shares of Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a research report on Wednesday, May 8th. Finally, StockNews.com downgraded shares of Truist Financial from a “hold” rating to a “sell” rating in a report on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $43.17.

Insider Activity

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of the stock in a transaction 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 in the company, valued at $604,627.36. The transaction 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 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.