Farmers Trust Co. Sells 500 Shares of Truist Financial Co. (NYSE:TFC)

Farmers Trust Co. cut its holdings in shares of Truist Financial Co. (NYSE:TFC) by 4.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,690 shares of the insurance provider’s stock after selling 500 shares during the quarter. Farmers Trust Co.’s holdings in Truist Financial were worth $456,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of TFC. Rise Advisors LLC purchased a new position in shares of Truist Financial during the first quarter valued at about $32,000. Mather Group LLC. purchased a new position in shares of Truist Financial during the first quarter valued at about $132,000. Beese Fulmer Investment Management Inc. grew its position in shares of Truist Financial by 21.9% during the first quarter. Beese Fulmer Investment Management Inc. now owns 110,373 shares of the insurance provider’s stock valued at $4,302,000 after purchasing an additional 19,807 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Truist Financial by 13.7% during the first quarter. GAMMA Investing LLC now owns 8,333 shares of the insurance provider’s stock valued at $325,000 after purchasing an additional 1,005 shares in the last quarter. Finally, CWM LLC grew its position in shares of Truist Financial by 41.7% during the first quarter. CWM LLC now owns 41,294 shares of the insurance provider’s stock valued at $1,610,000 after purchasing an additional 12,158 shares in the last quarter. 71.28% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Jefferies Financial Group raised their price objective on Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a research report on Monday, April 8th. Stephens lifted their price target on Truist Financial from $43.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, May 16th. Piper Sandler lifted their price target on Truist Financial from $38.00 to $41.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 14th. StockNews.com lowered Truist Financial from a “hold” rating to a “sell” rating in a research report on Thursday, June 13th. Finally, Compass Point upgraded Truist Financial from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $34.00 to $42.00 in a research report on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Truist Financial has an average rating of “Moderate Buy” and an average target price of $43.17.

Truist Financial Stock Up 0.2 %

Shares of NYSE:TFC opened at $36.63 on Friday. Truist Financial Co. has a 52-week low of $26.57 and a 52-week high of $40.51. The stock has a market cap of $49.01 billion, a P/E ratio of -27.75, a price-to-earnings-growth ratio of 1.81 and a beta of 1.06. The business’s 50 day moving average is $37.74 and its 200 day moving average is $36.97. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.75.

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, topping the consensus estimate of $0.78 by $0.12. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The company had revenue of $4.87 billion for the quarter, compared to analysts’ expectations of $5.70 billion. During the same quarter in the prior year, the firm earned $1.09 earnings per share. Truist Financial’s revenue was down 8.8% compared to the same quarter last year. Sell-side analysts predict that Truist Financial Co. will post 3.36 EPS for the current year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Friday, May 10th were paid a $0.52 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $2.08 annualized dividend and a yield of 5.68%. Truist Financial’s dividend payout ratio (DPR) is currently -157.58%.

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.