Bryn Mawr Capital Management LLC Has $3.66 Million Stock Holdings in Truist Financial Co. (NYSE:TFC)

Bryn Mawr Capital Management LLC trimmed its holdings in shares of Truist Financial Co. (NYSE:TFC) by 63.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 84,456 shares of the insurance provider’s stock after selling 145,846 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in Truist Financial were worth $3,664,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. State Street Corp raised its holdings in shares of Truist Financial by 4.6% during the third quarter. State Street Corp now owns 61,864,957 shares of the insurance provider’s stock worth $2,645,964,000 after acquiring an additional 2,720,223 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Truist Financial by 316.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,117,950 shares of the insurance provider’s stock valued at $90,585,000 after purchasing an additional 1,609,351 shares during the period. KBC Group NV lifted its holdings in shares of Truist Financial by 96.9% in the fourth quarter. KBC Group NV now owns 2,031,893 shares of the insurance provider’s stock valued at $88,144,000 after purchasing an additional 999,763 shares in the last quarter. HighTower Advisors LLC boosted its position in shares of Truist Financial by 26.1% during the third quarter. HighTower Advisors LLC now owns 3,901,891 shares of the insurance provider’s stock worth $166,892,000 after buying an additional 807,648 shares during the period. Finally, LPL Financial LLC grew its holdings in shares of Truist Financial by 21.0% during the third quarter. LPL Financial LLC now owns 3,630,761 shares of the insurance provider’s stock worth $155,288,000 after buying an additional 630,628 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TFC has been the topic of several research reports. Morgan Stanley boosted their target price on Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. Citigroup raised their target price on shares of Truist Financial from $47.00 to $51.00 and gave the company a “neutral” rating in a research report on Monday, November 25th. Compass Point lifted their price target on shares of Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Hsbc Global Res upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Finally, Piper Sandler lifted their target price on Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Eleven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $50.79.

Truist Financial Price Performance

Shares of TFC opened at $47.59 on Thursday. The firm has a market capitalization of $63.17 billion, a PE ratio of 14.29, a PEG ratio of 1.64 and a beta of 1.08. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. The company’s 50-day moving average is $45.59 and its 200-day moving average is $44.43. Truist Financial Co. has a fifty-two week low of $34.26 and a fifty-two week high of $49.06.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.03. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The firm had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5.05 billion. During the same period in the prior year, the firm earned $0.81 EPS. The business’s revenue was up 3.4% on a year-over-year basis. Equities analysts forecast that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be paid a $0.52 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.08 annualized dividend and a yield of 4.37%. Truist Financial’s dividend payout ratio (DPR) is presently 62.46%.

Insider Buying and Selling at Truist Financial

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