Arbor Investment Advisors LLC Has $201,000 Stock Holdings in Truist Financial Co. (NYSE:TFC)

Arbor Investment Advisors LLC cut its holdings in Truist Financial Co. (NYSE:TFC) by 94.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 4,622 shares of the insurance provider’s stock after selling 79,069 shares during the quarter. Arbor Investment Advisors LLC’s holdings in Truist Financial were worth $201,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of TFC. AMF Tjanstepension AB acquired a new position in shares of Truist Financial in the 3rd quarter valued at approximately $3,208,000. Allspring Global Investments Holdings LLC boosted its position in Truist Financial by 8.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 77,332 shares of the insurance provider’s stock worth $3,307,000 after acquiring an additional 5,786 shares during the last quarter. Private Advisor Group LLC boosted its position in Truist Financial by 6.3% during the 3rd quarter. Private Advisor Group LLC now owns 79,474 shares of the insurance provider’s stock worth $3,399,000 after acquiring an additional 4,718 shares during the last quarter. Greenleaf Trust boosted its position in Truist Financial by 6.5% during the 3rd quarter. Greenleaf Trust now owns 13,099 shares of the insurance provider’s stock worth $560,000 after acquiring an additional 795 shares during the last quarter. Finally, Dakota Wealth Management boosted its position in Truist Financial by 82.9% during the 3rd quarter. Dakota Wealth Management now owns 149,993 shares of the insurance provider’s stock worth $6,415,000 after acquiring an additional 67,967 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Stock Down 2.1 %

TFC opened at $45.67 on Friday. Truist Financial Co. has a 1-year low of $34.26 and a 1-year high of $49.06. The stock’s fifty day simple moving average is $45.61 and its 200 day simple moving average is $44.49. 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 stock has a market cap of $60.62 billion, a PE ratio of 13.71, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The business had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5.05 billion. During the same quarter in the prior year, the business earned $0.81 EPS. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. As a group, research analysts expect that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.55%. The ex-dividend date of this dividend is Friday, February 14th. Truist Financial’s payout ratio is 62.46%.

Insiders Place Their Bets

In other news, CEO William H. Rogers, Jr. acquired 34,180 shares of the stock in a transaction on Monday, November 25th. The shares were purchased at an average price of $48.56 per share, for a total transaction of $1,659,780.80. Following the transaction, the chief executive officer now directly owns 691,451 shares of the company’s stock, valued at approximately $33,576,860.56. This represents a 5.20 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director K. David Jr. Boyer sold 4,966 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was 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 owns 11,246 shares in the company, valued at $519,565.20. The trade was a 30.63 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on TFC shares. Hsbc Global Res raised Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Citigroup upped their price target on Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. Barclays upped their price target on Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Raymond James upped their price target on Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Finally, Stephens upped their price target on Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Eleven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $50.79.

About Truist Financial

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.