Vaughan David Investments LLC IL Trims Holdings in Truist Financial Co. (NYSE:TFC)

Vaughan David Investments LLC IL lowered its stake in shares of Truist Financial Co. (NYSE:TFC) by 6.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 11,952 shares of the insurance provider’s stock after selling 840 shares during the period. Vaughan David Investments LLC IL’s holdings in Truist Financial were worth $518,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in TFC. Tradewinds LLC. grew its stake in shares of Truist Financial by 0.5% in the 3rd quarter. Tradewinds LLC. now owns 44,513 shares of the insurance provider’s stock valued at $1,904,000 after purchasing an additional 222 shares during the last quarter. PBMares Wealth Management LLC lifted its holdings in shares of Truist Financial by 0.8% during the fourth quarter. PBMares Wealth Management LLC now owns 29,270 shares of the insurance provider’s stock worth $1,270,000 after purchasing an additional 224 shares during the period. Koshinski Asset Management Inc. grew its position in Truist Financial by 2.1% in the 4th quarter. Koshinski Asset Management Inc. now owns 10,825 shares of the insurance provider’s stock valued at $470,000 after buying an additional 225 shares during the last quarter. Aaron Wealth Advisors LLC grew its position in Truist Financial by 3.0% in the 4th quarter. Aaron Wealth Advisors LLC now owns 7,712 shares of the insurance provider’s stock valued at $335,000 after buying an additional 227 shares during the last quarter. Finally, Ignite Planners LLC increased its stake in Truist Financial by 1.4% in the 4th quarter. Ignite Planners LLC now owns 17,499 shares of the insurance provider’s stock valued at $772,000 after buying an additional 246 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

TFC has been the topic of several analyst reports. Hsbc Global Res raised shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Raymond James lifted their price objective on Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Stephens increased their target price on Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. The Goldman Sachs Group lifted their price target on Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Citigroup raised their target price on Truist Financial from $47.00 to $51.00 and gave the company a “neutral” rating in a report on Monday, November 25th. Eleven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $50.79.

Insiders Place Their Bets

In other Truist Financial news, Director K. David Jr. Boyer sold 4,966 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total transaction of $229,429.20. Following the transaction, the director now owns 11,246 shares of the company’s stock, valued at $519,565.20. This represents a 30.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.17% of the stock is owned by corporate insiders.

Truist Financial Stock Performance

NYSE TFC opened at $45.25 on Wednesday. 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 fifty-two week low of $34.26 and a fifty-two week high of $49.06. The business has a fifty day moving average of $45.61 and a 200-day moving average of $44.57. The stock has a market cap of $60.06 billion, a price-to-earnings ratio of 13.59, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08.

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

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a yield of 4.60%. Truist Financial’s dividend payout ratio (DPR) is currently 62.46%.

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.