Truist Financial Co. (NYSE:TFC) Stock Position Decreased by Farmers Trust Co.

Farmers Trust Co. decreased its position in Truist Financial Co. (NYSE:TFC) by 8.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,834 shares of the insurance provider’s stock after selling 550 shares during the quarter. Farmers Trust Co.’s holdings in Truist Financial were worth $253,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Bangor Savings Bank grew its stake in Truist Financial by 92.5% in the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock valued at $25,000 after buying an additional 272 shares during the last quarter. Valley Wealth Managers Inc. bought a new stake in Truist Financial during the third quarter valued at about $26,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Truist Financial in the third quarter valued at about $32,000. Y.D. More Investments Ltd bought a new position in shares of Truist Financial in the second quarter worth about $31,000. Finally, Fortitude Family Office LLC lifted its position in shares of Truist Financial by 376.7% during the 3rd quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 678 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Insider Buying and Selling

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

Truist Financial Price Performance

Shares of Truist Financial stock opened at $43.93 on Thursday. The stock has a market capitalization of $58.32 billion, a price-to-earnings ratio of -30.72, a P/E/G ratio of 1.88 and a beta of 1.08. The firm’s 50-day moving average price is $45.34 and its two-hundred day moving average price is $43.25. 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 Co. has a 1-year low of $34.23 and a 1-year high of $49.06.

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

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 8th were issued a $0.52 dividend. The ex-dividend date was Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.73%. Truist Financial’s dividend payout ratio is -145.45%.

Analyst Upgrades and Downgrades

TFC has been the topic of several recent analyst reports. Barclays lifted their price target on Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Monday. Stephens reiterated an “overweight” rating and set a $54.00 target price on shares of Truist Financial in a research note on Thursday, January 2nd. UBS Group raised their price target on shares of Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Wells Fargo & Company upped their price objective on shares of Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Finally, Piper Sandler lifted their target price on Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $49.89.

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.