Lee Danner & Bass Inc. Sells 7,041 Shares of Truist Financial Co. (NYSE:TFC)

Lee Danner & Bass Inc. decreased its holdings in shares of Truist Financial Co. (NYSE:TFC) by 11.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 56,859 shares of the insurance provider’s stock after selling 7,041 shares during the period. Lee Danner & Bass Inc.’s holdings in Truist Financial were worth $2,099,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. OFI Invest Asset Management acquired a new position in Truist Financial during the third quarter valued at approximately $26,000. Operose Advisors LLC acquired a new position in shares of Truist Financial in the 3rd quarter valued at $31,000. Tyler Stone Wealth Management bought a new stake in shares of Truist Financial in the 3rd quarter valued at $33,000. Morton Brown Family Wealth LLC increased its position in shares of Truist Financial by 236.0% in the 4th quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock valued at $34,000 after buying an additional 649 shares in the last quarter. Finally, Authentikos Wealth Advisory LLC acquired a new stake in Truist Financial during the 3rd quarter worth $36,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analysts Set New Price Targets

TFC has been the subject of several recent analyst reports. HSBC increased their price target on Truist Financial from $37.00 to $39.00 and gave the stock a “hold” rating in a report on Thursday, March 28th. UBS Group increased their target price on Truist Financial from $45.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Piper Sandler lifted their price target on shares of Truist Financial from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, January 19th. Morgan Stanley reiterated an “equal weight” rating and issued a $43.00 price target on shares of Truist Financial in a report on Monday. Finally, Raymond James increased their price objective on shares of Truist Financial from $34.00 to $41.00 and gave the stock an “outperform” rating in a research note on Friday, January 5th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $41.56.

Insider Buying and Selling

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of Truist Financial stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $37.48, for a total value of $141,074.72. Following the completion of the transaction, the director now directly owns 16,132 shares of the company’s stock, valued at approximately $604,627.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.17% of the stock is currently owned by company insiders.

Truist Financial Stock Performance

Shares of NYSE TFC opened at $38.04 on Tuesday. Truist Financial Co. has a one year low of $25.56 and a one year high of $39.29. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market cap of $50.77 billion, a price-to-earnings ratio of -35.22, a P/E/G ratio of 2.27 and a beta of 1.08. The stock’s fifty day moving average price is $36.68 and its two-hundred day moving average price is $34.62.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.12. Truist Financial had a negative net margin of 3.28% and a positive return on equity of 9.64%. The firm had revenue of $4.87 billion during the quarter, compared to the consensus estimate of $5.70 billion. During the same quarter in the previous year, the firm posted $1.09 EPS. The business’s revenue for the quarter was down 8.8% compared to the same quarter last year. On average, equities analysts forecast that Truist Financial Co. will post 3.33 EPS for the current year.

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.