Truist Financial Co. (NYSE:TFC) Shares Sold by Thomasville National Bank

Thomasville National Bank lowered its position in shares of Truist Financial Co. (NYSE:TFC) by 7.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 76,526 shares of the insurance provider’s stock after selling 6,121 shares during the period. Thomasville National Bank’s holdings in Truist Financial were worth $3,320,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bangor Savings Bank increased its holdings in shares of Truist Financial by 92.5% during the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock worth $25,000 after buying an additional 272 shares during the last quarter. Valley Wealth Managers Inc. acquired a new stake in shares of Truist Financial during the 3rd quarter worth approximately $26,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Truist Financial during the 3rd quarter worth approximately $32,000. Fortitude Family Office LLC increased its holdings in shares of Truist Financial by 376.7% during the 3rd quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock worth $37,000 after buying an additional 678 shares during the last quarter. Finally, Ashton Thomas Securities LLC purchased a new position in shares of Truist Financial during the 3rd quarter worth approximately $45,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Insider Activity

In related news, Director K. David Jr. Boyer sold 4,966 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total transaction of $229,429.20. Following the completion of the transaction, the director now owns 11,246 shares of the company’s stock, valued at approximately $519,565.20. This represents a 30.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William H. Rogers, Jr. purchased 34,180 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were bought at an average cost of $48.56 per share, with a total value 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 $33,576,860.56. The trade was a 5.20 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.17% of the company’s stock.

Truist Financial Price Performance

Shares of NYSE TFC traded down $0.01 on Monday, hitting $42.77. The company’s stock had a trading volume of 2,246,617 shares, compared to its average volume of 5,605,690. Truist Financial Co. has a 12-month low of $34.23 and a 12-month high of $49.06. The company has a market capitalization of $56.78 billion, a price-to-earnings ratio of -29.91, a price-to-earnings-growth ratio of 1.88 and a beta of 1.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a 50 day moving average of $45.36 and a 200-day moving average of $43.38.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Thursday, October 17th. The insurance provider reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.08. The company had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $5.05 billion. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. As a group, research analysts predict 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 given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.86%. The ex-dividend date was Friday, November 8th. Truist Financial’s dividend payout ratio is presently -145.45%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on TFC shares. StockNews.com cut shares of Truist Financial from a “hold” rating to a “sell” rating in a research report on Thursday. Piper Sandler raised their price target on shares of Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. HSBC raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research report on Tuesday, January 7th. Royal Bank of Canada lifted their price objective 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, Barclays lifted their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.