Weaver C. Barksdale & Associates Inc. Sells 586 Shares of Truist Financial Co. (NYSE:TFC)

Weaver C. Barksdale & Associates Inc. lessened its stake in shares of Truist Financial Co. (NYSE:TFC) by 2.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,933 shares of the insurance provider’s stock after selling 586 shares during the period. Weaver C. Barksdale & Associates Inc.’s holdings in Truist Financial were worth $996,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Ausdal Financial Partners Inc. acquired a new position in Truist Financial in the 4th quarter worth about $212,000. Zions Bancorporation N.A. boosted its position in Truist Financial by 9.9% during the fourth quarter. Zions Bancorporation N.A. now owns 156,174 shares of the insurance provider’s stock valued at $6,775,000 after acquiring an additional 14,005 shares during the last quarter. TIAA Trust National Association grew its position in shares of Truist Financial by 1.2% during the 4th quarter. TIAA Trust National Association now owns 23,822 shares of the insurance provider’s stock worth $1,033,000 after buying an additional 283 shares during the period. Modern Wealth Management LLC bought a new stake in Truist Financial in the fourth quarter valued at $219,000. Finally, Prudential Financial Inc. increased its position in shares of Truist Financial by 26.9% during the fourth quarter. Prudential Financial Inc. now owns 3,232,287 shares of the insurance provider’s stock valued at $140,217,000 after acquiring an additional 684,992 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Compass Point raised their price objective on shares of Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Keefe, Bruyette & Woods upped their price objective on Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” rating in a report on Tuesday, January 21st. Baird R W upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Citigroup cut their target price on shares of Truist Financial from $51.00 to $44.00 and set a “neutral” rating on the stock in a report on Monday. Finally, Raymond James increased their price objective on Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Nine analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $50.79.

Truist Financial Trading Down 0.5 %

TFC stock opened at $41.96 on Wednesday. The firm has a market cap of $54.77 billion, a PE ratio of 12.60, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. The firm has a fifty day moving average price of $45.06 and a 200 day moving average price of $44.45. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. Truist Financial Co. has a fifty-two week low of $35.09 and a fifty-two week high of $49.06.

Truist Financial (NYSE:TFC) last posted its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. The firm had revenue of $5.11 billion for 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 business’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.81 EPS. Sell-side analysts anticipate that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.96%. The ex-dividend date was Friday, February 14th. Truist Financial’s dividend payout ratio (DPR) is 62.46%.

Truist Financial Company 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.