Moody National Bank Trust Division Decreases Stake in Truist Financial Co. (NYSE:TFC)

Moody National Bank Trust Division decreased its holdings in Truist Financial Co. (NYSE:TFC) by 3.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,709 shares of the insurance provider’s stock after selling 692 shares during the quarter. Moody National Bank Trust Division’s holdings in Truist Financial were worth $985,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TFC. Wedmont Private Capital increased its holdings in shares of Truist Financial by 19.1% in the 4th quarter. Wedmont Private Capital now owns 12,348 shares of the insurance provider’s stock valued at $528,000 after purchasing an additional 1,978 shares in the last quarter. Salem Investment Counselors Inc. grew its position in Truist Financial by 0.5% during the fourth quarter. Salem Investment Counselors Inc. now owns 292,822 shares of the insurance provider’s stock worth $12,703,000 after buying an additional 1,581 shares during the period. Capital Investment Advisors LLC increased its holdings in Truist Financial by 1.7% in the fourth quarter. Capital Investment Advisors LLC now owns 39,413 shares of the insurance provider’s stock valued at $1,710,000 after buying an additional 656 shares in the last quarter. Brookstone Capital Management lifted its position in shares of Truist Financial by 2.1% during the 4th quarter. Brookstone Capital Management now owns 275,849 shares of the insurance provider’s stock valued at $11,966,000 after acquiring an additional 5,765 shares during the period. Finally, City State Bank lifted its position in shares of Truist Financial by 158.1% during the 4th quarter. City State Bank now owns 1,169 shares of the insurance provider’s stock valued at $51,000 after acquiring an additional 716 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Insider Transactions at Truist Financial

In related news, Director K. David Jr. Boyer sold 4,966 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total transaction of $229,429.20. Following the sale, the director now directly owns 11,246 shares in the company, valued at approximately $519,565.20. This trade represents a 30.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO William H. Rogers, Jr. purchased 34,180 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was bought at an average price of $48.56 per share, with a total value of $1,659,780.80. Following the acquisition, the chief executive officer now owns 691,451 shares in the company, valued at $33,576,860.56. This trade represents a 5.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.17% of the company’s stock.

Truist Financial Price Performance

Truist Financial stock opened at $43.13 on Tuesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market cap of $57.26 billion, a price-to-earnings ratio of -30.16, a PEG ratio of 1.88 and a beta of 1.08. Truist Financial Co. has a 1 year low of $34.23 and a 1 year high of $49.06. The firm has a 50 day moving average price of $45.38 and a 200 day moving average price of $43.42.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.08. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. The business had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $5.05 billion. Sell-side analysts predict that Truist Financial Co. will post 3.7 earnings per share 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 4.82%. The ex-dividend date of this dividend was Friday, November 8th. Truist Financial’s dividend payout ratio is currently -145.45%.

Analyst Ratings Changes

Several research firms recently weighed in on TFC. JPMorgan Chase & Co. raised their price objective on Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Citigroup raised their price target on Truist Financial from $47.00 to $51.00 and gave the company a “neutral” rating in a research report on Monday, November 25th. Compass Point boosted their price objective on shares of Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Royal Bank of Canada lifted their target price on shares of Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Finally, Hsbc Global Res upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently 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.