Truist Financial Co. (NYSE:TFC) Shares Sold by Moody National Bank Trust Division

Moody National Bank Trust Division lessened its holdings in shares of Truist Financial Co. (NYSE:TFC) by 3.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 22,709 shares of the insurance provider’s stock after selling 692 shares during the period. Moody National Bank Trust Division’s holdings in Truist Financial were worth $985,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in TFC. Wedmont Private Capital grew its position in shares of Truist Financial by 19.1% during the fourth quarter. Wedmont Private Capital now owns 12,348 shares of the insurance provider’s stock worth $528,000 after buying an additional 1,978 shares in the last quarter. Salem Investment Counselors Inc. boosted its stake in Truist Financial by 0.5% during the 4th quarter. Salem Investment Counselors Inc. now owns 292,822 shares of the insurance provider’s stock valued at $12,703,000 after acquiring an additional 1,581 shares during the last quarter. Capital Investment Advisors LLC grew its holdings in Truist Financial by 1.7% during the 4th quarter. Capital Investment Advisors LLC now owns 39,413 shares of the insurance provider’s stock worth $1,710,000 after acquiring an additional 656 shares in the last quarter. Brookstone Capital Management increased its position in shares of Truist Financial by 2.1% in the 4th quarter. Brookstone Capital Management now owns 275,849 shares of the insurance provider’s stock worth $11,966,000 after purchasing an additional 5,765 shares during the last quarter. Finally, City State Bank raised its stake in shares of Truist Financial by 158.1% in the 4th quarter. City State Bank now owns 1,169 shares of the insurance provider’s stock valued at $51,000 after purchasing an additional 716 shares in the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director K. David Jr. Boyer sold 4,966 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total value of $229,429.20. Following the sale, the director now directly owns 11,246 shares in the company, valued at $519,565.20. The trade was a 30.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William H. Rogers, Jr. bought 34,180 shares of Truist Financial stock in a transaction that occurred on Monday, November 25th. The shares were acquired at an average price of $48.56 per share, with a total value of $1,659,780.80. Following the completion of the acquisition, the chief executive officer now directly owns 691,451 shares of the company’s stock, valued at $33,576,860.56. This represents a 5.20 % increase in their position. The disclosure for this purchase can be found here. 0.17% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TFC. Hsbc Global Res upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Wells Fargo & Company lifted their target price on Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. JPMorgan Chase & Co. upped their price target on Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. UBS Group lifted their price objective on shares of Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Finally, Piper Sandler increased their target price on shares of Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Truist Financial currently has an average rating of “Moderate Buy” and an average price target of $49.89.

Truist Financial Stock Up 0.8 %

TFC stock opened at $43.13 on Tuesday. The firm’s 50-day moving average is $45.38 and its two-hundred day moving average is $43.42. The company has a market capitalization of $57.26 billion, a price-to-earnings ratio of -30.16, a price-to-earnings-growth ratio of 1.88 and a beta of 1.08. Truist Financial Co. has a 52 week low of $34.23 and a 52 week high of $49.06. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.62.

Truist Financial (NYSE:TFC) last announced its earnings results on Thursday, October 17th. The insurance provider reported $0.97 EPS for the quarter, topping the consensus estimate of $0.89 by $0.08. The firm had revenue of $5.09 billion for the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. On average, analysts forecast that Truist Financial Co. will post 3.7 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 8th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.82%. The ex-dividend date of this dividend was Friday, November 8th. Truist Financial’s payout ratio is currently -145.45%.

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.