Plimoth Trust Co. LLC Cuts Stock Holdings in Truist Financial Corporation (NYSE:TFC)

Plimoth Trust Co. LLC reduced its position in Truist Financial Corporation (NYSE:TFC) by 5.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,377 shares of the insurance provider’s stock after selling 1,140 shares during the period. Plimoth Trust Co. LLC’s holdings in Truist Financial were worth $797,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in TFC. Hopwood Financial Services Inc. acquired a new position in shares of Truist Financial in the fourth quarter worth about $26,000. Navigoe LLC acquired a new position in Truist Financial in the 4th quarter worth about $26,000. Curio Wealth LLC purchased a new position in Truist Financial during the fourth quarter worth approximately $45,000. TCTC Holdings LLC boosted its position in Truist Financial by 28.1% during the fourth quarter. TCTC Holdings LLC now owns 1,310 shares of the insurance provider’s stock worth $57,000 after purchasing an additional 287 shares in the last quarter. Finally, Pinney & Scofield Inc. purchased a new stake in shares of Truist Financial in the fourth quarter valued at approximately $57,000. 71.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TFC has been the topic of a number of recent analyst reports. Morgan Stanley decreased their target price on Truist Financial from $50.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Monday, April 7th. Piper Sandler decreased their price objective on shares of Truist Financial from $45.00 to $41.00 and set a “neutral” rating on the stock in a report on Monday, April 21st. Barclays dropped their target price on shares of Truist Financial from $51.00 to $47.00 and set an “equal weight” rating on the stock in a research report on Monday, April 21st. TD Cowen began coverage on shares of Truist Financial in a research note on Thursday, May 15th. They issued a “hold” rating and a $44.00 price target on the stock. Finally, Stephens lowered their price objective on Truist Financial from $48.00 to $46.00 and set an “overweight” rating on the stock in a report on Monday, April 21st. Nine investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $47.83.

Truist Financial Price Performance

NYSE:TFC opened at $39.78 on Thursday. Truist Financial Corporation has a one year low of $33.56 and a one year high of $49.06. The stock has a market cap of $52.10 billion, a PE ratio of 11.74, a P/E/G ratio of 1.45 and a beta of 0.84. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.83 and a current ratio of 0.83. The stock has a 50 day moving average price of $38.91 and a 200 day moving average price of $42.24.

Truist Financial (NYSE:TFC) last issued its earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.87. The business had revenue of $4.95 billion during the quarter, compared to the consensus estimate of $4.99 billion. Truist Financial had a return on equity of 8.96% and a net margin of 15.59%. During the same period last year, the company earned $0.90 EPS. Equities research analysts expect that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 9th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 5.23%. The ex-dividend date was Friday, May 9th. Truist Financial’s dividend payout ratio (DPR) is presently 61.36%.

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.