Wells Fargo & Company MN Sells 78,898 Shares of Truist Financial Co. (NYSE:TFC)

Wells Fargo & Company MN decreased its holdings in shares of Truist Financial Co. (NYSE:TFC) by 1.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,463,580 shares of the insurance provider’s stock after selling 78,898 shares during the period. Wells Fargo & Company MN owned approximately 0.34% of Truist Financial worth $193,630,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Geode Capital Management LLC grew its holdings in shares of Truist Financial by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 27,975,691 shares of the insurance provider’s stock worth $1,210,348,000 after purchasing an additional 534,740 shares in the last quarter. Amundi increased its holdings in shares of Truist Financial by 6.5% in the 4th quarter. Amundi now owns 23,683,345 shares of the insurance provider’s stock worth $1,040,718,000 after buying an additional 1,450,323 shares during the last quarter. American Century Companies Inc. raised its position in shares of Truist Financial by 7.9% during the 4th quarter. American Century Companies Inc. now owns 9,882,885 shares of the insurance provider’s stock valued at $428,720,000 after buying an additional 722,749 shares in the last quarter. Norges Bank bought a new stake in shares of Truist Financial during the 4th quarter worth $402,828,000. Finally, Bank of New York Mellon Corp grew its position in Truist Financial by 8.5% in the fourth quarter. Bank of New York Mellon Corp now owns 8,484,992 shares of the insurance provider’s stock worth $368,079,000 after acquiring an additional 662,179 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on TFC shares. Morgan Stanley lifted their price target on Truist Financial from $55.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 21st. Raymond James lowered Truist Financial from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Wells Fargo & Company decreased their price target on shares of Truist Financial from $52.00 to $50.00 and set an “overweight” rating on the stock in a research note on Friday, March 28th. Barclays upped their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Finally, Compass Point lifted their target price on shares of Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Truist Financial currently has an average rating of “Moderate Buy” and an average target price of $50.42.

Truist Financial Trading Down 6.0 %

NYSE:TFC opened at $34.80 on Friday. The company has a 50-day moving average price of $43.97 and a 200-day moving average price of $44.32. The stock has a market cap of $45.43 billion, a price-to-earnings ratio of 10.45, a P/E/G ratio of 1.63 and a beta of 0.91. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. Truist Financial Co. has a 12 month low of $33.71 and a 12 month high of $49.06.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, topping 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 business had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.05 billion. During the same period last year, the business posted $0.81 earnings per share. Truist Financial’s quarterly revenue was up 3.4% compared to the same quarter last year. Equities analysts predict that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a $0.52 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a yield of 5.98%. Truist Financial’s dividend payout ratio (DPR) is 62.46%.

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.