Truist Financial Co. (NYSE:TFC) Shares Sold by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. lessened its holdings in shares of Truist Financial Co. (NYSE:TFC) by 2.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,613 shares of the insurance provider’s stock after selling 410 shares during the period. Brown Brothers Harriman & Co.’s holdings in Truist Financial were worth $851,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Bangor Savings Bank grew its position in shares of Truist Financial by 92.5% in the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 272 shares in the last quarter. Hopwood Financial Services Inc. acquired a new position in Truist Financial during the fourth quarter worth $26,000. Curio Wealth LLC purchased a new stake in Truist Financial in the 4th quarter valued at $45,000. City State Bank increased 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 worth $51,000 after acquiring an additional 716 shares during the last quarter. Finally, True Wealth Design LLC purchased a new position in shares of Truist Financial during the 3rd quarter worth $51,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Price Performance

Shares of TFC opened at $40.46 on Monday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. Truist Financial Co. has a fifty-two week low of $35.09 and a fifty-two week high of $49.06. The company has a market cap of $52.81 billion, a P/E ratio of 12.15, a PEG ratio of 1.63 and a beta of 1.08. The firm’s 50 day moving average price is $44.78 and its 200 day moving average price is $44.44.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.03. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The business had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5.05 billion. During the same period last year, the firm earned $0.81 earnings per share. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, research analysts forecast that Truist Financial Co. will post 4 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, March 3rd. Investors of record on Friday, February 14th were paid a dividend of $0.52 per share. The ex-dividend date was Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.14%. Truist Financial’s payout ratio is 62.46%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Hsbc Global Res raised shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Baird R W raised shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. 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 report on Tuesday, December 10th. Robert W. Baird upgraded Truist Financial from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $48.00 to $52.00 in a research report on Wednesday, March 5th. Finally, StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. Nine research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $50.68.

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.