Lee Danner & Bass Inc. Sells 7,041 Shares of Truist Financial Co. (NYSE:TFC)

Lee Danner & Bass Inc. reduced its position in Truist Financial Co. (NYSE:TFC) by 11.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 56,859 shares of the insurance provider’s stock after selling 7,041 shares during the period. Lee Danner & Bass Inc.’s holdings in Truist Financial were worth $2,099,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. International Assets Investment Management LLC bought a new position in shares of Truist Financial in the third quarter worth $831,000. Vontobel Holding Ltd. boosted its stake in Truist Financial by 9.0% in the 3rd quarter. Vontobel Holding Ltd. now owns 47,504 shares of the insurance provider’s stock worth $1,359,000 after purchasing an additional 3,914 shares during the period. SG Americas Securities LLC grew its holdings in Truist Financial by 36.3% during the 3rd quarter. SG Americas Securities LLC now owns 119,510 shares of the insurance provider’s stock valued at $3,419,000 after buying an additional 31,818 shares in the last quarter. Naples Global Advisors LLC increased its position in shares of Truist Financial by 40.4% during the third quarter. Naples Global Advisors LLC now owns 10,154 shares of the insurance provider’s stock valued at $291,000 after buying an additional 2,920 shares during the period. Finally, Ziegler Capital Management LLC lifted its holdings in shares of Truist Financial by 4.2% in the third quarter. Ziegler Capital Management LLC now owns 195,144 shares of the insurance provider’s stock worth $5,583,000 after buying an additional 7,858 shares in the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on TFC. Bank of America raised shares of Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 price objective for the company in a research note on Thursday, January 4th. HSBC boosted their price target on shares of Truist Financial from $37.00 to $39.00 and gave the company a “hold” rating in a research report on Thursday, March 28th. UBS Group increased their price objective on Truist Financial from $45.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. Royal Bank of Canada lifted their price objective on Truist Financial from $40.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. Finally, Raymond James upped their target price on Truist Financial from $34.00 to $41.00 and gave the stock an “outperform” rating in a research note on Friday, January 5th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $41.56.

Insider Activity

In other news, Director K. David Jr. Boyer sold 3,764 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $37.48, for a total value of $141,074.72. Following the completion of the sale, the director now owns 16,132 shares of the company’s stock, valued at approximately $604,627.36. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.17% of the company’s stock.

Truist Financial Stock Up 3.4 %

Shares of NYSE TFC opened at $38.04 on Tuesday. The stock has a market capitalization of $50.77 billion, a P/E ratio of -35.22, a PEG ratio of 2.27 and a beta of 1.08. Truist Financial Co. has a one year low of $25.56 and a one year high of $39.29. The firm’s 50 day simple moving average is $36.68 and its two-hundred day simple moving average is $34.62. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.82 and a quick ratio of 0.82.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.12. The company had revenue of $4.87 billion during the quarter, compared to analysts’ expectations of $5.70 billion. Truist Financial had a negative net margin of 3.28% and a positive return on equity of 9.64%. The firm’s revenue was down 8.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.09 EPS. As a group, analysts expect that Truist Financial Co. will post 3.33 EPS for the current fiscal year.

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.