Westhampton Capital LLC Sells 2,095 Shares of Truist Financial Co. (NYSE:TFC)

Westhampton Capital LLC lessened its holdings in shares of Truist Financial Co. (NYSE:TFC) by 13.1% during the 4th quarter, HoldingsChannel reports. The firm owned 13,925 shares of the insurance provider’s stock after selling 2,095 shares during the period. Westhampton Capital LLC’s holdings in Truist Financial were worth $604,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of Truist Financial by 48.7% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,963 shares of the insurance provider’s stock worth $129,000 after buying an additional 971 shares in the last quarter. Principal Financial Group Inc. lifted its position in Truist Financial by 3.5% during the 3rd quarter. Principal Financial Group Inc. now owns 1,511,299 shares of the insurance provider’s stock worth $64,638,000 after buying an additional 50,637 shares in the last quarter. Cadence Bank boosted its stake in shares of Truist Financial by 101.6% during the 3rd quarter. Cadence Bank now owns 185,184 shares of the insurance provider’s stock worth $7,920,000 after buying an additional 93,322 shares during the last quarter. Boston Common Asset Management LLC boosted its stake in shares of Truist Financial by 66.4% during the 3rd quarter. Boston Common Asset Management LLC now owns 154,523 shares of the insurance provider’s stock worth $6,609,000 after buying an additional 61,683 shares during the last quarter. Finally, Independent Advisor Alliance increased its position in shares of Truist Financial by 10.7% in the third quarter. Independent Advisor Alliance now owns 282,607 shares of the insurance provider’s stock valued at $12,087,000 after acquiring an additional 27,408 shares during the last quarter. 71.28% of the stock is owned by institutional investors.

Truist Financial Trading Up 0.4 %

Shares of Truist Financial stock opened at $47.44 on Thursday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. The stock has a market cap of $62.98 billion, a PE ratio of 14.25, a PEG ratio of 1.67 and a beta of 1.08. Truist Financial Co. has a 52-week low of $34.23 and a 52-week high of $49.06. The firm has a 50-day moving average of $45.51 and a 200-day moving average of $44.00.

Truist Financial (NYSE:TFC) last released its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share 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 firm had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.05 billion. During the same period in the prior year, the company posted $0.81 EPS. The company’s revenue was up 3.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Truist Financial Co. will post 3.95 EPS for the current year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.38%. The ex-dividend date is Friday, February 14th. Truist Financial’s dividend payout ratio is presently 62.46%.

Insider Buying and Selling at Truist Financial

In other news, CEO William H. Rogers, Jr. acquired 34,180 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were bought at an average price of $48.56 per share, with a total value of $1,659,780.80. Following the acquisition, the chief executive officer now directly owns 691,451 shares in the company, valued at $33,576,860.56. The trade was a 5.20 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director K. David Jr. Boyer sold 4,966 shares of the company’s stock in a transaction dated 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 directly owns 11,246 shares of the company’s stock, valued at approximately $519,565.20. The trade was 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.

Wall Street Analyst Weigh In

Several brokerages recently commented on TFC. Barclays increased their price target on Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. Wells Fargo & Company increased their price objective on Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Citigroup upped their price target on shares of Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. Keefe, Bruyette & Woods increased their price target on shares of Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a research note on Tuesday, January 21st. Finally, UBS Group boosted their price objective on shares of Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Eleven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $50.79.

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.