Truist Financial Co. (NYSE:TFC) Shares Sold by ZWJ Investment Counsel Inc.

ZWJ Investment Counsel Inc. lowered its stake in Truist Financial Co. (NYSE:TFC) by 0.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 46,453 shares of the insurance provider’s stock after selling 418 shares during the quarter. ZWJ Investment Counsel Inc.’s holdings in Truist Financial were worth $2,015,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bangor Savings Bank grew its position in shares of Truist Financial by 92.5% in the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 272 shares during the period. Valley Wealth Managers Inc. purchased a new position in Truist Financial in the 3rd quarter valued at about $26,000. MidAtlantic Capital Management Inc. acquired a new stake in Truist Financial in the 3rd quarter worth about $32,000. Fortitude Family Office LLC boosted its holdings in Truist Financial by 376.7% in 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 stake in Truist Financial during the 3rd quarter worth approximately $45,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Price Performance

Shares of TFC opened at $47.63 on Tuesday. The firm has a 50-day simple moving average of $45.40 and a two-hundred day simple moving average of $43.60. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. Truist Financial Co. has a 1-year low of $34.23 and a 1-year high of $49.06. The stock has a market cap of $63.23 billion, a PE ratio of 14.30, a P/E/G ratio of 1.86 and a beta of 1.08.

Truist Financial (NYSE:TFC) last announced its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The company had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5,047,370 billion. During the same quarter in the previous year, the company earned $0.81 earnings per share. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. As a group, analysts forecast that Truist Financial Co. will post 3.87 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday. Stephens reaffirmed an “overweight” rating and set a $54.00 target price on shares of Truist Financial in a research note on Thursday, January 2nd. Citigroup upped their target price on shares of Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a report on Monday, November 25th. The Goldman Sachs Group raised their price target 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. Finally, UBS Group upped 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, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $49.95.

Insider Buying and Selling

In other news, Director K. David Jr. Boyer sold 4,966 shares of the company’s stock in a transaction on 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William H. Rogers, Jr. bought 34,180 shares of the firm’s stock in a transaction that occurred 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 completion of the acquisition, the chief executive officer now owns 691,451 shares of the company’s stock, valued at $33,576,860.56. This trade represents a 5.20 % increase in their position. The disclosure for this purchase can be found here. 0.17% of the stock is owned by corporate insiders.

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.