Annis Gardner Whiting Capital Advisors LLC Cuts Stock Holdings in Truist Financial Co. (NYSE:TFC)

Annis Gardner Whiting Capital Advisors LLC trimmed its stake in shares of Truist Financial Co. (NYSE:TFC) by 12.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,406 shares of the insurance provider’s stock after selling 629 shares during the period. Annis Gardner Whiting Capital Advisors LLC’s holdings in Truist Financial were worth $163,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Missouri Trust & Investment Co grew its stake in Truist Financial by 227.2% during the fourth quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 593 shares in the last quarter. Northwest Financial Advisors bought a new stake in shares of Truist Financial in the 4th quarter worth about $34,000. Morton Brown Family Wealth LLC lifted its holdings in shares of Truist Financial by 236.0% in the 4th quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 649 shares during the last quarter. Criterion Capital Advisors LLC bought a new stake in shares of Truist Financial in the 4th quarter worth about $38,000. Finally, Operose Advisors LLC bought a new stake in shares of Truist Financial in the 3rd quarter worth about $31,000. 71.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Truist Financial

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $37.48, for a total transaction of $141,074.72. Following the completion of the transaction, the director now directly owns 16,132 shares in the company, valued at $604,627.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on TFC. TheStreet lowered shares of Truist Financial from a “b-” rating to a “c” rating in a report on Tuesday, February 20th. UBS Group raised their target price on shares of Truist Financial from $45.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Stephens lifted their price objective on shares of Truist Financial from $43.00 to $47.00 and gave the company an “overweight” rating in a report on Thursday, May 16th. StockNews.com lowered shares of Truist Financial from a “hold” rating to a “sell” rating in a report on Friday, May 10th. Finally, Citigroup lifted their price objective on shares of Truist Financial from $42.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Truist Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.17.

Truist Financial Stock Down 1.1 %

Shares of Truist Financial stock traded down $0.41 on Thursday, reaching $38.48. The stock had a trading volume of 1,148,854 shares, compared to its average volume of 8,993,431. The stock has a market capitalization of $51.49 billion, a P/E ratio of -29.45, a P/E/G ratio of 1.97 and a beta of 1.07. Truist Financial Co. has a 1 year low of $26.57 and a 1 year high of $40.51. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.75. The company has a 50 day moving average price of $38.01 and a 200 day moving average price of $36.19.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.78 by $0.12. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The business had revenue of $4.87 billion for the quarter, compared to the consensus estimate of $5.70 billion. During the same period in the prior year, the firm earned $1.09 EPS. The business’s revenue for the quarter was down 8.8% on a year-over-year basis. As a group, equities research analysts forecast that Truist Financial Co. will post 3.34 EPS for the current 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 $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 5.41%. The ex-dividend date of this dividend is Thursday, May 9th. Truist Financial’s dividend payout ratio is currently -157.58%.

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.