DRW Securities LLC Sells 113,395 Shares of Truist Financial Co. (NYSE:TFC)

DRW Securities LLC decreased its holdings in shares of Truist Financial Co. (NYSE:TFC) by 92.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,917 shares of the insurance provider’s stock after selling 113,395 shares during the period. DRW Securities LLC’s holdings in Truist Financial were worth $387,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Bangor Savings Bank raised its position in Truist Financial by 92.5% during the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 272 shares in the last quarter. Hopwood Financial Services Inc. purchased a new stake in shares of Truist Financial during the fourth quarter valued at approximately $26,000. Curio Wealth LLC purchased a new stake in Truist Financial during the 4th quarter valued at $45,000. City State Bank grew its stake in shares of Truist Financial by 158.1% in the fourth quarter. City State Bank now owns 1,169 shares of the insurance provider’s stock worth $51,000 after purchasing an additional 716 shares during the last quarter. Finally, Brown Lisle Cummings Inc. purchased a new position in shares of Truist Financial during the fourth quarter valued at approximately $55,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Analyst Ratings Changes

TFC has been the subject of several research analyst reports. Baird R W raised shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Raymond James lowered Truist Financial from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 2nd. Stephens lifted 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. Hsbc Global Res raised Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Finally, StockNews.com lowered Truist Financial from a “hold” rating to a “sell” rating in a research report on Thursday, April 3rd. One analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.22.

Truist Financial Price Performance

NYSE:TFC opened at $35.48 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. Truist Financial Co. has a 52 week low of $33.56 and a 52 week high of $49.06. The business’s 50-day simple moving average is $42.60 and its two-hundred day simple moving average is $44.05. The stock has a market cap of $46.32 billion, a PE ratio of 10.66, a P/E/G ratio of 1.63 and a beta of 0.91.

Truist Financial (NYSE:TFC) last posted its earnings results 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. The company had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. Truist Financial’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period last year, the company posted $0.81 earnings per share. As a group, analysts forecast that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a dividend of $0.52 per share. The ex-dividend date was Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.86%. Truist Financial’s dividend payout ratio is currently 62.46%.

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.