WBH Advisory Inc. Sells 729 Shares of Truist Financial Co. (NYSE:TFC)

WBH Advisory Inc. lowered its position in shares of Truist Financial Co. (NYSE:TFC) by 10.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,395 shares of the insurance provider’s stock after selling 729 shares during the quarter. WBH Advisory Inc.’s holdings in Truist Financial were worth $277,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of TFC. Pathway Financial Advisors LLC grew its position in Truist Financial by 2.2% in the fourth quarter. Pathway Financial Advisors LLC now owns 12,124 shares of the insurance provider’s stock valued at $526,000 after acquiring an additional 260 shares during the last quarter. Nkcfo LLC acquired a new position in shares of Truist Financial in the fourth quarter worth approximately $2,542,000. Strategic Financial Concepts LLC acquired a new position in Truist Financial in the fourth quarter valued at approximately $661,000. Principal Securities Inc. raised its position in shares of Truist Financial by 6.2% during the fourth quarter. Principal Securities Inc. now owns 51,899 shares of the insurance provider’s stock worth $2,251,000 after purchasing an additional 3,041 shares during the period. Finally, Congress Asset Management Co. acquired a new position in shares of Truist Financial during the fourth quarter worth approximately $1,387,000. Institutional investors own 71.28% of the company’s stock.

Insider Buying and Selling at Truist Financial

In other Truist Financial news, CEO William H. Rogers, Jr. acquired 34,180 shares of the stock in a transaction dated Monday, November 25th. The shares were acquired at an average cost of $48.56 per share, for a total transaction of $1,659,780.80. Following the completion of 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 the SEC website. Also, Director K. David Jr. Boyer sold 4,966 shares of the business’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 sale, the director now owns 11,246 shares in the company, valued at $519,565.20. This represents a 30.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by corporate insiders.

Truist Financial Stock Performance

Shares of TFC opened at $46.80 on Tuesday. 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 one year low of $34.26 and a one year high of $49.06. The firm has a market capitalization of $62.13 billion, a P/E ratio of 14.06, a PEG ratio of 1.69 and a beta of 1.08. The business has a fifty day moving average of $45.53 and a 200 day moving average of $44.34.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.03. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The business had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.05 billion. During the same quarter in the previous year, the company posted $0.81 earnings per share. Truist Financial’s revenue for the quarter was up 3.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Truist Financial Co. will post 3.98 EPS for the current year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.44%. The ex-dividend date of this dividend is Friday, February 14th. Truist Financial’s dividend payout ratio is presently 62.46%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Compass Point increased their price target on Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Piper Sandler increased their price objective on Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Wells Fargo & Company raised their price target on Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Raymond James lifted their price objective on Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Finally, Stephens raised their target price on Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Eleven investment 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $50.79.

Truist Financial Company 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.