Outfitter Financial LLC Decreases Stake in Truist Financial Co. (NYSE:TFC)

Outfitter Financial LLC decreased its stake in shares of Truist Financial Co. (NYSE:TFC) by 54.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,497 shares of the insurance provider’s stock after selling 23,296 shares during the period. Outfitter Financial LLC’s holdings in Truist Financial were worth $720,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Morton Brown Family Wealth LLC lifted its position 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 worth $34,000 after purchasing an additional 649 shares during the last quarter. OFI Invest Asset Management acquired a new stake in Truist Financial during the third quarter worth about $26,000. Criterion Capital Advisors LLC acquired a new stake in Truist Financial during the fourth quarter worth about $38,000. Operose Advisors LLC acquired a new stake in Truist Financial during the third quarter worth about $31,000. Finally, Tyler Stone Wealth Management acquired a new stake in Truist Financial during the third quarter worth about $33,000. Institutional investors own 71.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TFC. Jefferies Financial Group increased their price objective on shares of Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. 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. Keefe, Bruyette & Woods raised their price target on shares of Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a research note on Wednesday. Royal Bank of Canada raised their price objective on shares of Truist Financial from $40.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. Finally, Compass Point upgraded shares of Truist Financial from a “neutral” rating to a “buy” rating and raised their target price for the stock from $34.00 to $42.00 in a report on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $42.70.

Insider Activity

In other news, Director K. David Jr. Boyer sold 3,764 shares of Truist Financial stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $37.48, for a total transaction of $141,074.72. Following the sale, the director now directly owns 16,132 shares in the company, valued at approximately $604,627.36. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.17% of the stock is owned by company insiders.

Truist Financial Stock Up 0.5 %

Shares of Truist Financial stock traded up $0.21 during midday trading on Friday, reaching $39.31. 1,622,134 shares of the company’s stock traded hands, compared to its average volume of 9,304,979. The company has a market cap of $52.46 billion, a price-to-earnings ratio of -29.61, a price-to-earnings-growth ratio of 2.03 and a beta of 1.07. Truist Financial Co. has a 52 week low of $26.49 and a 52 week high of $40.35. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.82 and a current ratio of 0.82. The company’s 50 day simple moving average is $37.51 and its 200 day simple moving average is $35.44.

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

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 10th will be given a $0.52 dividend. The ex-dividend date is Thursday, May 9th. This represents a $2.08 annualized dividend and a yield of 5.29%. Truist Financial’s dividend payout ratio is -157.58%.

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.