Truist Financial Co. (NYSE:TFC) Shares Sold by WealthTrust Axiom LLC

WealthTrust Axiom LLC lowered its stake in shares of Truist Financial Co. (NYSE:TFC) by 9.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 9,944 shares of the insurance provider’s stock after selling 980 shares during the quarter. WealthTrust Axiom LLC’s holdings in Truist Financial were worth $367,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in TFC. OFI Invest Asset Management acquired a new position in Truist Financial in the third quarter worth $26,000. Operose Advisors LLC acquired a new position in Truist Financial in the third quarter worth $31,000. Tyler Stone Wealth Management acquired a new position in Truist Financial in the third quarter worth $33,000. Morton Brown Family Wealth LLC boosted its holdings in Truist Financial by 236.0% in the fourth quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 649 shares during the period. Finally, Authentikos Wealth Advisory LLC acquired a new position in Truist Financial in the third quarter worth $36,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Price Performance

NYSE:TFC opened at $37.55 on Wednesday. The business’s 50-day moving average price is $36.98 and its 200 day moving average price is $35.03. The firm has a market cap of $50.11 billion, a P/E ratio of -28.45, a PEG ratio of 2.02 and a beta of 1.08. Truist Financial Co. has a 52-week low of $25.56 and a 52-week high of $39.29. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.75.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share 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 analysts’ expectations of $5.70 billion. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. Truist Financial’s revenue was down 8.8% on a year-over-year basis. During the same quarter last year, the business posted $1.09 EPS. As a group, sell-side analysts predict that Truist Financial Co. will post 3.27 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 10th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $2.08 dividend on an annualized basis and a yield of 5.54%. Truist Financial’s dividend payout ratio is currently -157.58%.

Insider Buying and Selling

In related 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 owns 16,132 shares of the company’s stock, valued at approximately $604,627.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.17% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

TFC has been the subject of a number of research reports. Royal Bank of Canada lifted their price objective on shares of Truist Financial from $40.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. TheStreet cut Truist Financial from a “b-” rating to a “c” rating in a research note on Tuesday, February 20th. Wells Fargo & Company raised their target price on Truist Financial from $39.00 to $45.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. HSBC raised their target price on Truist Financial from $37.00 to $39.00 and gave the company a “hold” rating in a research note on Thursday, March 28th. Finally, Citigroup raised their target price on Truist Financial from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $41.97.

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.