Community Bank N.A. Sells 1,500 Shares of Truist Financial Co. (NYSE:TFC)

Community Bank N.A. trimmed its holdings in shares of Truist Financial Co. (NYSE:TFC) by 1.6% during the 3rd quarter, Holdings Channel reports. The fund owned 89,670 shares of the insurance provider’s stock after selling 1,500 shares during the period. Community Bank N.A.’s holdings in Truist Financial were worth $3,835,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Cetera Advisors LLC increased its holdings in Truist Financial by 61.7% during the first quarter. Cetera Advisors LLC now owns 99,857 shares of the insurance provider’s stock valued at $3,892,000 after buying an additional 38,087 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of Truist Financial by 7.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 6,933 shares of the insurance provider’s stock valued at $260,000 after acquiring an additional 472 shares during the period. Transcend Capital Advisors LLC bought a new position in shares of Truist Financial in the 2nd quarter worth $258,000. DNB Asset Management AS lifted its stake in shares of Truist Financial by 6.8% during the 2nd quarter. DNB Asset Management AS now owns 215,048 shares of the insurance provider’s stock worth $8,355,000 after purchasing an additional 13,706 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in Truist Financial during the second quarter valued at about $42,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Trading Down 0.1 %

Shares of Truist Financial stock opened at $47.68 on Monday. The stock has a market cap of $63.30 billion, a PE ratio of -33.34, a price-to-earnings-growth ratio of 1.96 and a beta of 1.05. The firm has a fifty day moving average price of $44.23 and a 200 day moving average price of $41.84. Truist Financial Co. has a 1 year low of $31.96 and a 1 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 released its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.08. The business had revenue of $5.09 billion during the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. Equities research 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 announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.36%. The ex-dividend date is Friday, November 8th. Truist Financial’s dividend payout ratio (DPR) is -145.45%.

Insider Activity

In other Truist Financial news, CEO William H. Rogers, Jr. bought 34,180 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 691,451 shares of the company’s stock, valued at approximately $33,576,860.56. The trade was a 5.20 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on TFC. Royal Bank of Canada increased their price target on shares of Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. lifted their price target on shares of Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Wolfe Research upgraded Truist Financial from an “underperform” rating to a “peer perform” rating in a report on Friday, August 9th. Finally, The Goldman Sachs Group raised their price objective on Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Twelve investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Truist Financial currently has a consensus rating of “Hold” and an average price target of $47.17.

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.