First National Trust Co Sells 6,118 Shares of Truist Financial Co. (NYSE:TFC)

First National Trust Co reduced its stake in shares of Truist Financial Co. (NYSE:TFC) by 6.0% during the 4th quarter, HoldingsChannel reports. The fund owned 96,486 shares of the insurance provider’s stock after selling 6,118 shares during the period. First National Trust Co’s holdings in Truist Financial were worth $3,562,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Morton Brown Family Wealth LLC increased its stake in Truist Financial by 236.0% during the fourth quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 649 shares during the last quarter. OFI Invest Asset Management bought a new position in shares of Truist Financial during the third quarter valued at approximately $26,000. Criterion Capital Advisors LLC bought a new position in shares of Truist Financial during the fourth quarter valued at approximately $38,000. Operose Advisors LLC bought a new position in shares of Truist Financial during the third quarter valued at approximately $31,000. Finally, Tyler Stone Wealth Management bought a new position in shares of Truist Financial during the third quarter valued at approximately $33,000. 71.28% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Stephens reaffirmed an “overweight” rating and set a $43.00 target price on shares of Truist Financial in a research note on Tuesday, April 23rd. UBS Group upped their target price on Truist Financial from $45.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Keefe, Bruyette & Woods upped their target price on Truist Financial from $44.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, April 5th. TheStreet cut Truist Financial from a “b-” rating to a “c” rating in a research note on Tuesday, February 20th. Finally, Citigroup boosted their price target on Truist Financial from $42.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Truist Financial presently has an average rating of “Moderate Buy” and a consensus price target of $41.88.

Truist Financial Stock Up 1.3 %

Truist Financial stock traded up $0.50 during mid-day trading on Friday, reaching $38.85. 8,081,419 shares of the company were exchanged, compared to its average volume of 8,655,990. The business has a fifty day moving average of $37.16 and a 200 day moving average of $35.14. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market cap of $51.85 billion, a P/E ratio of -29.43, a PEG ratio of 2.01 and a beta of 1.07. Truist Financial Co. has a 12-month low of $25.56 and a 12-month high of $39.29.

Truist Financial (NYSE:TFC) last posted its earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.12. The company had revenue of $4.87 billion during the quarter, compared to analyst estimates of $5.70 billion. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. Truist Financial’s revenue was down 8.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.09 earnings per share. Research analysts anticipate that Truist Financial Co. will post 3.3 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently declared 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 5.35%. The ex-dividend date is Thursday, May 9th. Truist Financial’s payout ratio is presently -157.58%.

Insider Transactions at Truist Financial

In other news, Director K. David Jr. Boyer sold 3,764 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $37.48, for a total transaction of $141,074.72. Following 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 legal filing with the SEC, which is accessible through the SEC website. 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.