Bogart Wealth LLC Sells 4,023 Shares of Truist Financial Co. (NYSE:TFC)

Bogart Wealth LLC lessened its position in shares of Truist Financial Co. (NYSE:TFC) by 1.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 224,608 shares of the insurance provider’s stock after selling 4,023 shares during the quarter. Bogart Wealth LLC’s holdings in Truist Financial were worth $8,293,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. RMR Wealth Builders raised its position in shares of Truist Financial by 1.9% during the 4th quarter. RMR Wealth Builders now owns 19,197 shares of the insurance provider’s stock valued at $709,000 after acquiring an additional 356 shares during the last quarter. EdgeRock Capital LLC bought a new stake in shares of Truist Financial in the 4th quarter valued at about $111,000. Patrick M Sweeney & Associates Inc. acquired a new position in Truist Financial during the fourth quarter valued at approximately $211,000. Charles Schwab Investment Management Inc. boosted its position in shares of Truist Financial by 8.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 19,238,388 shares of the insurance provider’s stock worth $690,793,000 after purchasing an additional 1,458,248 shares in the last quarter. Finally, Apollon Wealth Management LLC grew its holdings in shares of Truist Financial by 14.9% in the 4th quarter. Apollon Wealth Management LLC now owns 46,776 shares of the insurance provider’s stock valued at $1,727,000 after buying an additional 6,080 shares during the period. Institutional investors own 71.28% of the company’s stock.

Truist Financial Trading Up 0.3 %

TFC traded up $0.13 during trading on Thursday, reaching $39.00. 1,158,198 shares of the company’s stock were exchanged, compared to its average volume of 9,325,826. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.75. Truist Financial Co. has a one year low of $26.49 and a one year high of $40.35. The firm has a fifty day moving average price of $37.34 and a two-hundred day moving average price of $35.39. The stock has a market capitalization of $52.05 billion, a PE ratio of -29.84, a price-to-earnings-growth ratio of 2.03 and a beta of 1.07.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.12. The company had revenue of $4.87 billion for the quarter, compared to analysts’ expectations of $5.70 billion. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. Truist Financial’s revenue for the quarter was down 8.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.09 earnings per share. As a group, equities research analysts forecast that Truist Financial Co. will post 3.3 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 5.33%. The ex-dividend date is Thursday, May 9th. Truist Financial’s dividend payout ratio is presently -157.58%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on TFC. Stephens reissued an “overweight” rating and set a $43.00 target price on shares of Truist Financial in a research note on Tuesday, April 23rd. Wells Fargo & Company lifted their price target on shares of Truist Financial from $39.00 to $45.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. UBS Group increased their price objective on shares of Truist Financial from $45.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Jefferies Financial Group upped their target price on Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a report on Monday, April 8th. Finally, Evercore ISI restated an “in-line” rating and issued a $44.00 price target on shares of Truist Financial in a research note on Thursday. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $42.70.

Insider Activity at Truist Financial

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of Truist Financial stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $37.48, for a total value of $141,074.72. Following the completion of the sale, the director now directly owns 16,132 shares in the company, valued at $604,627.36. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.17% of the stock is owned by company 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.