Glenview Trust co Decreases Stake in Truist Financial Co. (NYSE:TFC)

Glenview Trust co decreased its stake in shares of Truist Financial Co. (NYSE:TFC) by 18.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 21,436 shares of the insurance provider’s stock after selling 4,823 shares during the quarter. Glenview Trust co’s holdings in Truist Financial were worth $930,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of TFC. Bangor Savings Bank lifted its holdings in Truist Financial by 92.5% in the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock worth $25,000 after acquiring an additional 272 shares during the last quarter. Hopwood Financial Services Inc. acquired a new stake in shares of Truist Financial in the fourth quarter valued at approximately $26,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Truist Financial during the third quarter valued at approximately $32,000. City State Bank increased its stake in shares of Truist Financial by 158.1% during the fourth quarter. City State Bank now owns 1,169 shares of the insurance provider’s stock valued at $51,000 after acquiring an additional 716 shares during the period. Finally, True Wealth Design LLC acquired a new position in shares of Truist Financial during the third quarter valued at approximately $51,000. Institutional investors own 71.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Baird R W upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Compass Point lifted their price target on shares of Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Morgan Stanley lifted their price target on shares of Truist Financial from $55.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. Keefe, Bruyette & Woods lifted their price target on shares of Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 21st. Finally, Citigroup lifted their price objective 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. Nine research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $51.16.

Truist Financial Trading Up 1.3 %

Shares of NYSE:TFC opened at $41.08 on Tuesday. The stock has a market capitalization of $53.62 billion, a PE ratio of 12.34, a P/E/G ratio of 1.63 and a beta of 1.08. Truist Financial Co. has a 1 year low of $34.51 and a 1 year high of $49.06. The firm has a fifty day moving average price of $45.32 and a 200 day moving average price of $44.54. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61.

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. The firm had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. Truist Financial’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.81 earnings per share. Analysts expect that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently announced 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. This represents a $2.08 dividend on an annualized basis and a yield of 5.06%. The ex-dividend date was Friday, February 14th. Truist Financial’s dividend payout ratio is 62.46%.

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.