Truist Financial Co. (NYSE:TFC) Shares Sold by Bryn Mawr Capital Management LLC

Bryn Mawr Capital Management LLC cut its stake in shares of Truist Financial Co. (NYSE:TFC) by 6.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 228,278 shares of the insurance provider’s stock after selling 16,376 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in Truist Financial were worth $8,428,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Day & Ennis LLC raised its position in Truist Financial by 4.3% in 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 in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA raised its position in Truist Financial by 32.0% in 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 in the last quarter. Cape Investment Advisory Inc. raised its position in Truist Financial by 7.4% in the third quarter. Cape Investment Advisory Inc. now owns 4,849 shares of the insurance provider’s stock worth $139,000 after acquiring an additional 335 shares in the last quarter. Birmingham Capital Management Co. Inc. AL raised its position in Truist Financial by 4.1% in the third quarter. Birmingham Capital Management Co. Inc. AL now owns 8,544 shares of the insurance provider’s stock worth $244,000 after acquiring an additional 335 shares in the last quarter. Finally, Farmers Trust Co. raised its position in Truist Financial by 2.8% in the fourth quarter. Farmers Trust Co. now owns 12,190 shares of the insurance provider’s stock worth $450,000 after acquiring an additional 336 shares in the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on TFC. HSBC increased their price objective on Truist Financial from $37.00 to $39.00 and gave the stock a “hold” rating in a research report on Thursday, March 28th. Raymond James increased their price objective on Truist Financial from $34.00 to $41.00 and gave the stock an “outperform” rating in a research report on Friday, January 5th. Compass Point upgraded Truist Financial from a “neutral” rating to a “buy” rating and raised their price target for the company from $34.00 to $42.00 in a research report on Tuesday. Royal Bank of Canada raised their price target on Truist Financial from $40.00 to $42.00 and gave the company an “outperform” rating in a research report on Friday, January 19th. Finally, Jefferies Financial Group raised their price target on Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a research report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $41.97.

Truist Financial Stock Up 0.5 %

Shares of NYSE:TFC opened at $38.17 on Friday. The stock’s 50-day moving average price is $36.90 and its two-hundred day moving average price is $34.82. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.82 and a quick ratio of 0.82. Truist Financial Co. has a 12-month low of $25.56 and a 12-month high of $39.29.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.12. The firm had revenue of $4.87 billion for the quarter, compared to analyst estimates of $5.70 billion. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The firm’s quarterly revenue was down 8.8% on a year-over-year basis. During the same period last year, the company earned $1.09 EPS. As a group, equities analysts expect that Truist Financial Co. will post 3.27 EPS for the current fiscal year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 10th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 5.45%. The ex-dividend date of this dividend is Thursday, May 9th. Truist Financial’s dividend payout ratio is currently -157.58%.

Insider Activity

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

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.