Truist Financial Co. (NYSE:TFC) Shares Sold by Wilbanks Smith & Thomas Asset Management LLC

Wilbanks Smith & Thomas Asset Management LLC reduced its stake in shares of Truist Financial Co. (NYSE:TFC) by 32.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 78,050 shares of the insurance provider’s stock after selling 38,352 shares during the period. Wilbanks Smith & Thomas Asset Management LLC’s holdings in Truist Financial were worth $2,882,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. OFI Invest Asset Management acquired a new position in Truist Financial in the 3rd quarter worth $26,000. Operose Advisors LLC acquired a new position in Truist Financial during the 3rd quarter valued at about $31,000. Tyler Stone Wealth Management bought a new position in Truist Financial in the 3rd quarter worth approximately $33,000. Morton Brown Family Wealth LLC increased its holdings in shares of Truist Financial by 236.0% during the fourth quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 649 shares during the period. Finally, Authentikos Wealth Advisory LLC bought a new stake in shares of Truist Financial during the 3rd quarter worth about $36,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

TFC has been the topic of several research reports. Stephens reiterated an “overweight” rating and issued a $43.00 price target on shares of Truist Financial in a research report on Tuesday, April 23rd. Morgan Stanley reaffirmed an “equal weight” rating and set a $43.00 target price on shares of Truist Financial in a research note on Monday, April 22nd. Citigroup increased their price objective on Truist Financial from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Compass Point upgraded shares of Truist Financial from a “neutral” rating to a “buy” rating and lifted their target price for the company from $34.00 to $42.00 in a research note on Tuesday, April 23rd. Finally, UBS Group upped their price target on Truist Financial from $45.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $41.88.

Truist Financial Trading Up 0.2 %

Shares of Truist Financial stock traded up $0.06 on Thursday, hitting $38.11. 2,498,344 shares of the company’s stock traded hands, compared to its average volume of 9,442,359. Truist Financial Co. has a one year low of $25.56 and a one year high of $39.29. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a market capitalization of $50.86 billion, a PE ratio of -28.83, a price-to-earnings-growth ratio of 1.97 and a beta of 1.07. The firm’s 50-day moving average price is $37.03 and its two-hundred day moving average price is $35.05.

Truist Financial (NYSE:TFC) last issued its earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.12. The firm had revenue of $4.87 billion for the quarter, compared to analysts’ expectations of $5.70 billion. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The company’s revenue was down 8.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.09 earnings per share. On average, research analysts expect that Truist Financial Co. will post 3.28 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 10th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 5.46%. The ex-dividend date is Thursday, May 9th. Truist Financial’s payout ratio is presently -157.58%.

Insider Transactions at Truist Financial

In related news, Director K. David Jr. Boyer sold 3,764 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $37.48, for a total value of $141,074.72. Following the sale, the director now directly owns 16,132 shares of the company’s stock, valued at approximately $604,627.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.17% of the stock is currently owned by insiders.

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.