Community Trust & Investment Co. Trims Stake in Truist Financial Co. (NYSE:TFC)

Community Trust & Investment Co. lessened its position in Truist Financial Co. (NYSE:TFC) by 25.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 14,721 shares of the insurance provider’s stock after selling 4,950 shares during the period. Community Trust & Investment Co.’s holdings in Truist Financial were worth $639,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in TFC. Principal Financial Group Inc. lifted its stake in Truist Financial by 3.5% in the third quarter. Principal Financial Group Inc. now owns 1,511,299 shares of the insurance provider’s stock worth $64,638,000 after purchasing an additional 50,637 shares during the last quarter. Cadence Bank lifted its stake in shares of Truist Financial by 101.6% during the 3rd quarter. Cadence Bank now owns 185,184 shares of the insurance provider’s stock worth $7,920,000 after acquiring an additional 93,322 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Truist Financial by 3.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,932,261 shares of the insurance provider’s stock valued at $346,957,000 after acquiring an additional 299,196 shares during the period. Boston Common Asset Management LLC grew its position in Truist Financial by 66.4% in the 3rd quarter. Boston Common Asset Management LLC now owns 154,523 shares of the insurance provider’s stock valued at $6,609,000 after acquiring an additional 61,683 shares during the last quarter. Finally, Independent Advisor Alliance increased its stake in Truist Financial by 10.7% in the third quarter. Independent Advisor Alliance now owns 282,607 shares of the insurance provider’s stock worth $12,087,000 after purchasing an additional 27,408 shares during the period. 71.28% of the stock is owned by hedge funds and other institutional investors.

Truist Financial Stock Performance

Shares of TFC stock opened at $43.87 on Wednesday. Truist Financial Co. has a 12-month low of $34.23 and a 12-month high of $49.06. The business’s fifty day simple moving average is $45.41 and its 200-day simple moving average is $43.46. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.62. The company has a market cap of $58.24 billion, a PE ratio of -30.68, a PEG ratio of 1.88 and a beta of 1.08.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Thursday, October 17th. The insurance provider reported $0.97 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $5.05 billion. Analysts expect that Truist Financial Co. will post 3.7 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 8th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.74%. The ex-dividend date of this dividend was Friday, November 8th. Truist Financial’s dividend payout ratio (DPR) is presently -145.45%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TFC. Piper Sandler upped their price target on shares of Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Citigroup upped their target price on shares of Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a research note on Monday, November 25th. UBS Group lifted their price target on shares of Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Royal Bank of Canada increased their price objective on Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Finally, Wells Fargo & Company upped their target price on Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $49.89.

Insider Activity at Truist Financial

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

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.