Capital Investment Counsel Inc Sells 5,156 Shares of Truist Financial Co. (NYSE:TFC)

Capital Investment Counsel Inc lessened its position in shares of Truist Financial Co. (NYSE:TFC) by 7.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 63,553 shares of the insurance provider’s stock after selling 5,156 shares during the quarter. Capital Investment Counsel Inc’s holdings in Truist Financial were worth $2,346,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. OFI Invest Asset Management bought a new stake in shares of Truist Financial during the third quarter worth $26,000. Operose Advisors LLC bought a new position in shares of Truist Financial during the 3rd quarter worth approximately $31,000. Tyler Stone Wealth Management acquired a new position in Truist Financial in the 3rd quarter valued at $33,000. Morton Brown Family Wealth LLC raised its holdings in 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 acquiring an additional 649 shares in the last quarter. Finally, Authentikos Wealth Advisory LLC acquired a new position in shares of Truist Financial during the 3rd quarter worth $36,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Trading Up 0.2 %

TFC traded up $0.08 during trading on Monday, hitting $38.25. 437,652 shares of the stock traded hands, compared to its average volume of 9,488,772. The firm has a market capitalization of $51.05 billion, a P/E ratio of -28.92, a price-to-earnings-growth ratio of 2.01 and a beta of 1.08. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a 50-day moving average of $36.90 and a 200 day moving average of $34.90. Truist Financial Co. has a 12-month low of $25.56 and a 12-month high of $39.29.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.12. The business had revenue of $4.87 billion during the quarter, compared to analysts’ expectations of $5.70 billion. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The firm’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.09 EPS. Equities research analysts anticipate that Truist Financial Co. will post 3.27 EPS for the current year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 10th will be given a $0.52 dividend. The ex-dividend date is Thursday, May 9th. This represents a $2.08 annualized dividend and a dividend yield of 5.44%. Truist Financial’s dividend payout ratio is -157.58%.

Insider Transactions at Truist Financial

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $37.48, for a total transaction of $141,074.72. Following the completion of the sale, the director now directly owns 16,132 shares in the company, valued at approximately $604,627.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Bank of America raised Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 target price for the company in a report on Thursday, January 4th. Stephens reiterated an “overweight” rating and issued a $43.00 price target on shares of Truist Financial in a research report on Tuesday, April 23rd. Compass Point upgraded Truist Financial from a “neutral” rating to a “buy” rating and upped their price target for the company from $34.00 to $42.00 in a research report on Tuesday, April 23rd. Morgan Stanley reiterated an “equal weight” rating and issued a $43.00 price target on shares of Truist Financial in a research report on Monday, April 22nd. Finally, Jefferies Financial Group upped 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 research analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Truist Financial currently has an average rating of “Moderate Buy” and an average price target of $41.97.

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.