Continental Advisors LLC Reduces Stake in Truist Financial Co. (NYSE:TFC)

Continental Advisors LLC cut its holdings in Truist Financial Co. (NYSE:TFC) by 10.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 159,650 shares of the insurance provider’s stock after selling 19,000 shares during the period. Truist Financial makes up 3.2% of Continental Advisors LLC’s investment portfolio, making the stock its 8th largest position. Continental Advisors LLC’s holdings in Truist Financial were worth $6,926,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Bangor Savings Bank boosted its holdings in Truist Financial by 92.5% in the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 272 shares during the last quarter. Hopwood Financial Services Inc. bought a new stake in shares of Truist Financial in the fourth quarter worth $26,000. Curio Wealth LLC bought a new position in Truist Financial in the fourth quarter valued at about $45,000. City State Bank boosted its position in 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. bought a new stake in shares of Truist Financial during the 4th quarter valued at about $55,000. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Truist Financial Stock Down 1.5 %

Shares of NYSE:TFC opened at $35.36 on Tuesday. The company has a 50-day moving average price of $40.99 and a 200 day moving average price of $43.76. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. Truist Financial Co. has a 12 month low of $33.56 and a 12 month high of $49.06. The company has a market cap of $46.16 billion, a price-to-earnings ratio of 10.62, a PEG ratio of 1.63 and a beta of 0.91.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, meeting the consensus estimate of $0.87. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The company had revenue of $4.95 billion for the quarter, compared to analyst estimates of $4.99 billion. During the same quarter in the prior year, the firm posted $0.90 EPS. As a group, equities research analysts predict that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a $0.52 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.08 annualized dividend and a dividend yield of 5.88%. Truist Financial’s payout ratio is 61.36%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on TFC. Barclays dropped their price objective on shares of Truist Financial from $51.00 to $47.00 and set an “equal weight” rating on the stock in a report on Monday. Hsbc Global Res upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods lowered their target price on Truist Financial from $53.00 to $47.00 and set an “outperform” rating on the stock in a research report on Monday. StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a research note on Sunday. Finally, Raymond James downgraded Truist Financial from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 2nd. Nine investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Truist Financial has an average rating of “Moderate Buy” and an average target price of $48.28.

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.