Hilltop National Bank Sells 1,106 Shares of Truist Financial Co. (NYSE:TFC)

Hilltop National Bank reduced its position in shares of Truist Financial Co. (NYSE:TFC) by 8.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,659 shares of the insurance provider’s stock after selling 1,106 shares during the period. Hilltop National Bank’s holdings in Truist Financial were worth $549,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of TFC. State Street Corp raised its stake in Truist Financial by 4.6% during the 3rd quarter. State Street Corp now owns 61,864,957 shares of the insurance provider’s stock valued at $2,645,964,000 after purchasing an additional 2,720,223 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Truist Financial by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 27,440,951 shares of the insurance provider’s stock valued at $1,169,350,000 after buying an additional 456,412 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Truist Financial by 1.0% in the 2nd quarter. Legal & General Group Plc now owns 10,338,802 shares of the insurance provider’s stock valued at $401,663,000 after buying an additional 103,565 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Truist Financial by 3.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,431,037 shares of the insurance provider’s stock valued at $403,365,000 after buying an additional 288,306 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Truist Financial by 3.5% in 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 buying an additional 299,196 shares in the last quarter. 71.28% of the stock is owned by institutional investors.

Insider Activity

In other Truist Financial news, CEO William H. Rogers, Jr. purchased 34,180 shares of the business’s stock in a transaction on Monday, November 25th. The shares were purchased at an average cost of $48.56 per share, for a total transaction of $1,659,780.80. Following the acquisition, the chief executive officer now owns 691,451 shares of the company’s stock, valued at approximately $33,576,860.56. This represents a 5.20 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director K. David Jr. Boyer sold 4,966 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total value of $229,429.20. Following the transaction, the director now owns 11,246 shares in the company, valued at $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 currently owned by insiders.

Truist Financial Stock Performance

TFC stock traded down $1.13 during midday trading on Friday, reaching $42.82. 2,433,540 shares of the company were exchanged, compared to its average volume of 5,211,383. The business has a 50-day moving average price of $45.36 and a two-hundred day moving average price of $43.26. The firm has a market capitalization of $56.84 billion, a price-to-earnings ratio of -29.94, a price-to-earnings-growth ratio of 1.88 and a beta of 1.08. Truist Financial Co. has a one year low of $34.23 and a one year high of $49.06. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.85 and a quick ratio of 0.85.

Truist Financial (NYSE:TFC) last announced its earnings results on Thursday, October 17th. The insurance provider reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.08. The company had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. Equities research analysts forecast that Truist Financial Co. will post 3.7 EPS for the current year.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 8th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.86%. The ex-dividend date was Friday, November 8th. Truist Financial’s dividend payout ratio is currently -145.45%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Citigroup increased their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a report on Monday, November 25th. JPMorgan Chase & Co. raised their target price on shares of Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. HSBC raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research note on Tuesday. The Goldman Sachs Group raised their target price on shares of Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Wells Fargo & Company raised their target price on shares of Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. One 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 data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $49.89.

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.