Blue Trust Inc. Sells 13,013 Shares of Truist Financial Co. (NYSE:TFC)

Blue Trust Inc. reduced its holdings in Truist Financial Co. (NYSE:TFC) by 26.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 36,261 shares of the insurance provider’s stock after selling 13,013 shares during the quarter. Blue Trust Inc.’s holdings in Truist Financial were worth $1,413,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Opal Wealth Advisors LLC bought a new stake in shares of Truist Financial in the first quarter worth about $29,000. Missouri Trust & Investment Co increased its holdings in shares of Truist Financial by 227.2% in the fourth quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 593 shares in the last quarter. Rise Advisors LLC bought a new stake in shares of Truist Financial in the first quarter worth about $32,000. Morton Brown Family Wealth LLC increased its holdings in shares of Truist Financial by 236.0% in the fourth 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 in the last quarter. Finally, Northwest Financial Advisors bought a new stake in shares of Truist Financial in the fourth quarter worth about $34,000. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Stock Performance

NYSE:TFC traded down $0.65 on Friday, hitting $38.22. The company’s stock had a trading volume of 5,002,197 shares, compared to its average volume of 6,729,153. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.75. The stock has a fifty day moving average of $37.95 and a two-hundred day moving average of $37.23. The firm has a market capitalization of $51.14 billion, a P/E ratio of -28.95, a price-to-earnings-growth ratio of 2.04 and a beta of 1.07. Truist Financial Co. has a one year low of $26.57 and a one year high of $40.51.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.12. The firm had revenue of $4.87 billion for the quarter, compared to analyst estimates of $5.70 billion. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The business’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.09 earnings per share. Research analysts predict that Truist Financial Co. will post 3.37 earnings per share for the current year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 10th were paid a $0.52 dividend. The ex-dividend date was Thursday, May 9th. This represents a $2.08 annualized dividend and a yield of 5.44%. Truist Financial’s dividend payout ratio is -157.58%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on TFC shares. Citigroup increased their price target on Truist Financial from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Stephens upped their price objective on Truist Financial from $43.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, May 16th. Jefferies Financial Group upped their price objective on Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. UBS Group upped their price objective on Truist Financial from $45.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. Finally, Wells Fargo & Company upped their price objective on Truist Financial from $39.00 to $45.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat, Truist Financial has an average rating of “Moderate Buy” and a consensus price target of $43.17.

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.