CNB Bank Has $392,000 Stock Holdings in Truist Financial Co. (NYSE:TFC)

CNB Bank reduced its stake in Truist Financial Co. (NYSE:TFC) by 17.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,044 shares of the insurance provider’s stock after selling 1,974 shares during the quarter. CNB Bank’s holdings in Truist Financial were worth $392,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Tradewinds LLC. lifted its position in shares of Truist Financial by 0.5% in the 3rd quarter. Tradewinds LLC. now owns 44,513 shares of the insurance provider’s stock worth $1,904,000 after purchasing an additional 222 shares during the period. Ignite Planners LLC raised its stake in Truist Financial by 1.4% during the fourth quarter. Ignite Planners LLC now owns 17,499 shares of the insurance provider’s stock worth $772,000 after buying an additional 246 shares during the last quarter. Burkett Financial Services LLC lifted its holdings in Truist Financial by 26.8% in the third quarter. Burkett Financial Services LLC now owns 1,198 shares of the insurance provider’s stock valued at $51,000 after buying an additional 253 shares during the period. Prime Capital Investment Advisors LLC boosted its position in Truist Financial by 2.7% during the third quarter. Prime Capital Investment Advisors LLC now owns 10,399 shares of the insurance provider’s stock valued at $445,000 after acquiring an additional 270 shares during the last quarter. Finally, Bangor Savings Bank raised its position in shares of Truist Financial by 92.5% in the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock worth $25,000 after acquiring an additional 272 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Price Performance

TFC stock opened at $47.61 on Friday. The firm has a 50 day simple moving average of $45.38 and a two-hundred day simple moving average of $43.47. 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 market cap of $63.20 billion, a PE ratio of -33.21, a P/E/G ratio of 1.67 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.

Truist Financial (NYSE:TFC) last released its earnings results on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. The business had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5,047,370 billion. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. The firm’s revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.81 earnings per share. On average, analysts predict that Truist Financial Co. will post 3.61 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 8th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.37%. The ex-dividend date of this dividend was Friday, November 8th. Truist Financial’s dividend payout ratio (DPR) is presently -145.45%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Compass Point increased their target price on shares of Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. The Goldman Sachs Group upped their target price on shares of Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Keefe, Bruyette & Woods raised their price target on shares of Truist Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Stephens reaffirmed an “overweight” rating and issued a $54.00 price objective on shares of Truist Financial in a research report on Thursday, January 2nd. Finally, UBS Group increased their price objective on shares of Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Eleven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $49.95.

Insider Transactions at Truist Financial

In other news, CEO William H. Rogers, Jr. purchased 34,180 shares of Truist Financial 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 completion of the purchase, the chief executive officer now directly owns 691,451 shares in the company, valued at approximately $33,576,860.56. This trade represents a 5.20 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director K. David Jr. Boyer sold 4,966 shares of the stock in a transaction 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 completion of the transaction, the director now owns 11,246 shares of the company’s stock, valued at approximately $519,565.20. This trade represents a 30.63 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.17% of the company’s stock.

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.