Truist Financial Co. (NYSE:TFC) Holdings Cut by Highland Capital Management LLC

Highland Capital Management LLC decreased its position in shares of Truist Financial Co. (NYSE:TFC) by 4.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 169,820 shares of the insurance provider’s stock after selling 7,406 shares during the period. Highland Capital Management LLC’s holdings in Truist Financial were worth $7,367,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bangor Savings Bank boosted its position in Truist Financial by 92.5% in the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock valued at $25,000 after buying an additional 272 shares during the last quarter. Valley Wealth Managers Inc. bought a new position in Truist Financial during the third quarter worth about $26,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Truist Financial during the 3rd quarter worth about $32,000. Fortitude Family Office LLC raised its position in shares of Truist Financial by 376.7% in the 3rd quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock valued at $37,000 after acquiring an additional 678 shares during the period. Finally, Ashton Thomas Securities LLC acquired a new position in Truist Financial during the third quarter valued at approximately $45,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on TFC shares. Raymond James lifted their price target on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. HSBC raised Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Tuesday, January 7th. The Goldman Sachs Group lifted their price objective on Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Morgan Stanley increased their target price on Truist Financial from $55.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 21st. Finally, Hsbc Global Res upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Eleven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Truist Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.79.

Truist Financial Stock Performance

Shares of NYSE TFC opened at $47.44 on Thursday. Truist Financial Co. has a 12 month low of $34.23 and a 12 month high of $49.06. The stock has a 50 day moving average of $45.51 and a 200-day moving average of $44.00. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $62.98 billion, a P/E ratio of 14.25, a P/E/G ratio of 1.67 and a beta of 1.08.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.03. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The company had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.05 billion. During the same period in the prior year, the firm earned $0.81 earnings per share. The company’s revenue was up 3.4% on a year-over-year basis. As a group, equities research analysts predict that Truist Financial Co. will post 3.95 EPS for the current year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be paid a dividend of $0.52 per share. The ex-dividend date is Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.38%. Truist Financial’s dividend payout ratio (DPR) is currently 62.46%.

Insider Activity at Truist Financial

In related news, CEO William H. Rogers, Jr. purchased 34,180 shares of Truist Financial stock in a transaction that occurred on Monday, November 25th. The shares were acquired at an average price of $48.56 per share, with a total value of $1,659,780.80. Following the completion of the transaction, the chief executive officer now directly owns 691,451 shares of the company’s stock, valued at $33,576,860.56. This represents a 5.20 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director K. David Jr. Boyer sold 4,966 shares of Truist Financial stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total value of $229,429.20. Following the completion of the transaction, the director now directly owns 11,246 shares of the company’s stock, valued at $519,565.20. This represents a 30.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by corporate insiders.

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.