Capital Management Associates NY Sells 4,067 Shares of Truist Financial Co. (NYSE:TFC)

Capital Management Associates NY lessened its position in shares of Truist Financial Co. (NYSE:TFC) by 18.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,607 shares of the insurance provider’s stock after selling 4,067 shares during the period. Capital Management Associates NY’s holdings in Truist Financial were worth $764,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in TFC. Harbour Investments Inc. increased its holdings in Truist Financial by 14.2% during the 3rd quarter. Harbour Investments Inc. now owns 4,313 shares of the insurance provider’s stock worth $184,000 after purchasing an additional 537 shares in the last quarter. Prime Capital Investment Advisors LLC increased its holdings in Truist Financial by 2.7% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 10,399 shares of the insurance provider’s stock worth $445,000 after purchasing an additional 270 shares in the last quarter. Aptus Capital Advisors LLC increased its holdings in Truist Financial by 19.7% during the 3rd quarter. Aptus Capital Advisors LLC now owns 24,582 shares of the insurance provider’s stock worth $1,051,000 after purchasing an additional 4,049 shares in the last quarter. Haverford Trust Co increased its holdings in Truist Financial by 8.6% during the 3rd quarter. Haverford Trust Co now owns 12,629 shares of the insurance provider’s stock worth $540,000 after purchasing an additional 998 shares in the last quarter. Finally, MQS Management LLC bought a new position in shares of Truist Financial in the 3rd quarter valued at about $203,000. Institutional investors own 71.28% of the company’s stock.

Truist Financial Trading Up 2.7 %

Shares of TFC stock opened at $40.54 on Friday. The firm has a 50 day moving average price of $45.38 and a two-hundred day moving average price of $44.55. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $52.92 billion, a PE ratio of 12.17, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. Truist Financial Co. has a 12-month low of $34.51 and a 12-month 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 analysts’ consensus estimates of $0.88 by $0.03. The company had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.05 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.81 earnings per share. As a group, analysts predict that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 5.13%. The ex-dividend date of this dividend was Friday, February 14th. Truist Financial’s dividend payout ratio (DPR) is currently 62.46%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on TFC shares. The Goldman Sachs Group raised their price objective on Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Stephens raised their price objective on Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Robert W. Baird upgraded Truist Financial from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $48.00 to $52.00 in a report on Wednesday, March 5th. Keefe, Bruyette & Woods raised their price objective on Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Tuesday, January 21st. Finally, Citigroup raised their price objective on Truist Financial from $47.00 to $51.00 and gave the company a “neutral” rating in a report on Monday, November 25th. Nine investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $51.16.

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.