Truist Financial Co. (NYSE:TFC) Shares Sold by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC trimmed its stake in shares of Truist Financial Co. (NYSE:TFC) by 2.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,277,302 shares of the insurance provider’s stock after selling 37,534 shares during the period. Douglas Lane & Associates LLC owned 0.10% of Truist Financial worth $55,409,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Fulton Bank N.A. lifted its stake in Truist Financial by 3.0% in the 4th quarter. Fulton Bank N.A. now owns 61,183 shares of the insurance provider’s stock valued at $2,654,000 after buying an additional 1,771 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of Truist Financial in the fourth quarter valued at approximately $1,184,000. Bangor Savings Bank boosted its stake in shares of 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 acquiring an additional 272 shares during the last quarter. Neville Rodie & Shaw Inc. increased its position in shares of Truist Financial by 17.9% during the fourth quarter. Neville Rodie & Shaw Inc. now owns 37,468 shares of the insurance provider’s stock worth $1,626,000 after purchasing an additional 5,695 shares in the last quarter. Finally, CWA Asset Management Group LLC raised its stake in Truist Financial by 9.5% in the 4th quarter. CWA Asset Management Group LLC now owns 49,000 shares of the insurance provider’s stock valued at $2,126,000 after purchasing an additional 4,267 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analyst Ratings Changes

TFC has been the subject of a number of research reports. Compass Point upped their target price on shares of Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Piper Sandler upped their price objective on shares of Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Royal Bank of Canada raised their target price on shares of Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. upped their price target on Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Finally, Wells Fargo & Company increased their price target on Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $49.89.

Truist Financial Trading Up 0.5 %

Shares of NYSE TFC traded up $0.23 during trading on Wednesday, reaching $44.20. The stock had a trading volume of 3,286,113 shares, compared to its average volume of 5,325,561. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market cap of $58.68 billion, a P/E ratio of -30.91, a PEG ratio of 1.88 and a beta of 1.08. Truist Financial Co. has a fifty-two week low of $34.23 and a fifty-two week high of $49.06. The business’s 50-day moving average price is $45.33 and its 200-day moving average price is $43.25.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.08. The firm had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. On average, equities research analysts predict that Truist Financial Co. will post 3.7 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 8th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.71%. The ex-dividend date was Friday, November 8th. Truist Financial’s payout ratio is currently -145.45%.

Insider Activity

In other news, CEO William H. Rogers, Jr. acquired 34,180 shares of the company’s stock in a transaction on Monday, November 25th. The shares were bought at an average cost of $48.56 per share, with a total value of $1,659,780.80. Following the transaction, the chief executive officer now owns 691,451 shares in the company, valued at approximately $33,576,860.56. This trade represents a 5.20 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 stock was sold at an average price of $46.20, for a total transaction of $229,429.20. Following the sale, the director now directly owns 11,246 shares of the company’s stock, valued at approximately $519,565.20. This trade represents a 30.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.17% of the company’s stock.

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.