Truist Financial Co. (NYSE:TFC) Shares Sold by Capital Investment Counsel Inc

Capital Investment Counsel Inc lowered its stake in Truist Financial Co. (NYSE:TFC) by 7.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 63,553 shares of the insurance provider’s stock after selling 5,156 shares during the quarter. Capital Investment Counsel Inc’s holdings in Truist Financial were worth $2,346,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. OFI Invest Asset Management acquired a new stake in Truist Financial in the 3rd quarter valued at $26,000. Operose Advisors LLC acquired a new stake in Truist Financial during the 3rd quarter worth $31,000. Tyler Stone Wealth Management acquired a new stake in Truist Financial during the 3rd quarter worth $33,000. Morton Brown Family Wealth LLC boosted its stake in Truist Financial by 236.0% during the 4th quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 649 shares during the last quarter. Finally, Authentikos Wealth Advisory LLC acquired a new stake in Truist Financial during the 3rd quarter worth $36,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Trading Up 0.2 %

NYSE:TFC traded up $0.08 on Monday, reaching $38.25. 437,652 shares of the company’s stock were exchanged, compared to its average volume of 9,488,772. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $51.05 billion, a price-to-earnings ratio of -28.92, a price-to-earnings-growth ratio of 2.01 and a beta of 1.08. The business has a fifty day moving average of $36.90 and a 200-day moving average of $34.90. Truist Financial Co. has a 52-week low of $25.56 and a 52-week high of $39.29.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.12. The company had revenue of $4.87 billion for the quarter, compared to analyst estimates of $5.70 billion. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The business’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.09 earnings per share. As a group, analysts expect that Truist Financial Co. will post 3.27 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 10th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.44%. The ex-dividend date of this dividend is Thursday, May 9th. Truist Financial’s dividend payout ratio is presently -157.58%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Citigroup lifted their target price on shares of Truist Financial from $42.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Raymond James lifted their price target on Truist Financial from $34.00 to $41.00 and gave the stock an “outperform” rating in a report on Friday, January 5th. StockNews.com lowered Truist Financial from a “hold” rating to a “sell” rating in a report on Thursday, March 28th. Jefferies Financial Group lifted their price target on Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a report on Monday, April 8th. Finally, UBS Group lifted their price target on Truist Financial from $45.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, April 5th. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $41.97.

Insider Transactions at Truist Financial

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 transaction of $141,074.72. Following the completion of the transaction, the director now directly owns 16,132 shares of the company’s stock, valued at $604,627.36. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.17% of the company’s stock.

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.