Farmers & Merchants Investments Inc. Sells 1,977 Shares of Truist Financial Co. (NYSE:TFC)

Farmers & Merchants Investments Inc. lessened its holdings in shares of Truist Financial Co. (NYSE:TFC) by 13.6% during the 1st quarter, HoldingsChannel reports. The firm owned 12,508 shares of the insurance provider’s stock after selling 1,977 shares during the period. Farmers & Merchants Investments Inc.’s holdings in Truist Financial were worth $515,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of TFC. Comerica Bank lifted its stake in Truist Financial by 3.6% in the 4th quarter. Comerica Bank now owns 449,484 shares of the insurance provider’s stock valued at $19,499,000 after acquiring an additional 15,499 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its stake in Truist Financial by 81.7% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,108,466 shares of the insurance provider’s stock valued at $48,085,000 after acquiring an additional 498,531 shares in the last quarter. Stifel Financial Corp lifted its stake in Truist Financial by 2.8% in the 4th quarter. Stifel Financial Corp now owns 2,242,763 shares of the insurance provider’s stock valued at $97,291,000 after acquiring an additional 60,848 shares in the last quarter. Glass Wealth Management Co LLC lifted its stake in Truist Financial by 9.5% in the 4th quarter. Glass Wealth Management Co LLC now owns 67,978 shares of the insurance provider’s stock valued at $2,949,000 after acquiring an additional 5,900 shares in the last quarter. Finally, Assetmark Inc. lifted its stake in Truist Financial by 97.1% in the 4th quarter. Assetmark Inc. now owns 91,833 shares of the insurance provider’s stock valued at $3,984,000 after acquiring an additional 45,235 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Down 2.5%

TFC stock opened at $38.94 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $50.99 billion, a PE ratio of 11.69, a PEG ratio of 1.63 and a beta of 0.84. Truist Financial Co. has a 1-year low of $33.56 and a 1-year high of $49.06. The business’s 50 day simple moving average is $38.77 and its 200 day simple moving average is $42.38.

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

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 9th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 5.34%. The ex-dividend date was Friday, May 9th. Truist Financial’s dividend payout ratio is 61.36%.

Analyst Upgrades and Downgrades

TFC has been the topic of several research reports. Argus set a $43.00 target price on Truist Financial in a research note on Monday, April 21st. Robert W. Baird upgraded Truist Financial from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $48.00 to $52.00 in a research note on Wednesday, March 5th. Keefe, Bruyette & Woods dropped their price objective on Truist Financial from $53.00 to $47.00 and set an “outperform” rating on the stock in a research note on Monday, April 21st. Stephens dropped their price objective on Truist Financial from $48.00 to $46.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. Finally, Morgan Stanley dropped their price objective on Truist Financial from $50.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Monday, April 7th. Nine analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $47.83.

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.