Truist Financial Co. (NYSE:TFC) Shares Sold by Marino Stram & Associates LLC

Marino Stram & Associates LLC cut its holdings in Truist Financial Co. (NYSE:TFC) by 2.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,878 shares of the insurance provider’s stock after selling 438 shares during the quarter. Marino Stram & Associates LLC’s holdings in Truist Financial were worth $808,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. EPG Wealth Management LLC increased its stake in shares of Truist Financial by 1.8% during the fourth quarter. EPG Wealth Management LLC now owns 12,219 shares of the insurance provider’s stock worth $526,000 after acquiring an additional 213 shares during the period. Williams Jones Wealth Management LLC. increased its stake in shares of Truist Financial by 5.8% during the first quarter. Williams Jones Wealth Management LLC. now owns 4,850 shares of the insurance provider’s stock worth $275,000 after acquiring an additional 268 shares during the period. Financial Advocates Investment Management increased its stake in shares of Truist Financial by 3.5% during the fourth quarter. Financial Advocates Investment Management now owns 9,071 shares of the insurance provider’s stock worth $390,000 after acquiring an additional 306 shares during the period. Day & Ennis LLC increased its stake in shares of Truist Financial by 4.3% during the fourth quarter. Day & Ennis LLC now owns 7,525 shares of the insurance provider’s stock worth $278,000 after acquiring an additional 311 shares during the period. Finally, Farmers & Merchants Trust Co of Chambersburg PA increased its stake in shares of Truist Financial by 32.0% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,333 shares of the insurance provider’s stock worth $49,000 after acquiring an additional 323 shares during the period. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $37.48, for a total transaction of $141,074.72. Following the transaction, the director now owns 16,132 shares of the company’s stock, valued at $604,627.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.17% of the stock is currently owned by insiders.

Truist Financial Trading Down 2.6 %

Shares of TFC traded down $0.97 on Tuesday, hitting $35.73. 7,846,122 shares of the stock traded hands, compared to its average volume of 9,652,963. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $47.68 billion, a P/E ratio of -33.10, a P/E/G ratio of 2.27 and a beta of 1.08. The stock’s 50 day moving average is $36.64 and its two-hundred day moving average is $34.31. Truist Financial Co. has a 1 year low of $25.56 and a 1 year high of $39.29.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Thursday, January 18th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.13. The business had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.70 billion. Truist Financial had a negative net margin of 3.28% and a positive return on equity of 9.64%. During the same quarter in the prior year, the firm posted $1.30 earnings per share. As a group, sell-side analysts predict that Truist Financial Co. will post 3.33 earnings per share for the current year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 5.82%. The ex-dividend date was Thursday, February 8th. Truist Financial’s dividend payout ratio is currently -192.59%.

Analyst Ratings Changes

A number of research firms recently commented on TFC. Bank of America raised shares of Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 price objective on the stock in a report on Thursday, January 4th. Piper Sandler boosted their price objective on shares of Truist Financial from $37.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday, January 19th. Stephens raised shares of Truist Financial from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $41.00 to $43.00 in a report on Tuesday, March 19th. Morgan Stanley boosted their price objective on shares of Truist Financial from $38.00 to $43.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 30th. Finally, Wells Fargo & Company upped their price target on shares of Truist Financial from $39.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Truist Financial has an average rating of “Hold” and an average target price of $41.47.

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.