Truist Financial Co. (NYSE:TFC) Holdings Reduced by Bare Financial Services Inc

Bare Financial Services Inc trimmed its position in Truist Financial Co. (NYSE:TFC) by 24.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,813 shares of the insurance provider’s stock after selling 590 shares during the period. Bare Financial Services Inc’s holdings in Truist Financial were worth $79,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Hopwood Financial Services Inc. acquired a new stake in shares of Truist Financial during the 4th quarter valued at $26,000. EverSource Wealth Advisors LLC raised its position in shares of Truist Financial by 24.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 10,320 shares of the insurance provider’s stock worth $448,000 after purchasing an additional 2,055 shares during the period. Sequoia Financial Advisors LLC boosted its position in shares of Truist Financial by 1.8% in the 4th quarter. Sequoia Financial Advisors LLC now owns 35,097 shares of the insurance provider’s stock valued at $1,523,000 after purchasing an additional 616 shares during the period. HighTower Advisors LLC raised its holdings in shares of Truist Financial by 5.6% during the fourth quarter. HighTower Advisors LLC now owns 4,119,723 shares of the insurance provider’s stock valued at $178,714,000 after acquiring an additional 217,832 shares during the period. Finally, Citizens Financial Group Inc. RI boosted its position in shares of Truist Financial by 53.3% in the fourth quarter. Citizens Financial Group Inc. RI now owns 14,633 shares of the insurance provider’s stock worth $635,000 after buying an additional 5,085 shares during the period. Institutional investors own 71.28% of the company’s stock.

Truist Financial Trading Down 1.0 %

NYSE:TFC opened at $39.96 on Wednesday. The company has a market cap of $52.16 billion, a PE ratio of 12.00, a PEG ratio of 1.63 and a beta of 1.08. The firm has a 50-day moving average of $45.60 and a 200-day moving average of $44.65. 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 $34.51 and a one year high of $49.06.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping 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 business had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5.05 billion. During the same quarter in the prior year, the firm posted $0.81 EPS. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. As a group, equities research analysts expect that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a dividend of $0.52 per share. The ex-dividend date was Friday, February 14th. This represents a $2.08 annualized dividend and a yield of 5.21%. Truist Financial’s payout ratio is 62.46%.

Analyst Ratings Changes

Several equities analysts recently weighed in on TFC shares. StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. Keefe, Bruyette & Woods lifted their price objective 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. Raymond James upped their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Compass Point boosted their price target on Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Finally, Barclays raised their price objective on Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Nine analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $51.16.

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.