Truist Financial Co. (NYSE:TFC) Shares Sold by Ferguson Wellman Capital Management Inc.

Ferguson Wellman Capital Management Inc. lowered its holdings in Truist Financial Co. (NYSE:TFC) by 22.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,847 shares of the insurance provider’s stock after selling 3,997 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Truist Financial were worth $540,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Missouri Trust & Investment Co boosted its holdings in shares of Truist Financial by 227.2% in the fourth quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock worth $32,000 after buying an additional 593 shares during the period. Northwest Financial Advisors acquired a new position in shares of Truist Financial in the fourth quarter worth about $34,000. Morton Brown Family Wealth LLC boosted its holdings in shares of Truist Financial by 236.0% in the fourth quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock worth $34,000 after buying an additional 649 shares during the period. Criterion Capital Advisors LLC acquired a new position in shares of Truist Financial in the fourth quarter worth about $38,000. Finally, Operose Advisors LLC acquired a new position in shares of Truist Financial in the third quarter worth about $31,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Keefe, Bruyette & Woods raised their target price on shares of Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, May 8th. HSBC raised their target price on shares of Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a report on Wednesday, May 8th. Citigroup raised their price target on shares of Truist Financial from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Wells Fargo & Company raised their price target on shares of Truist Financial from $39.00 to $45.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Finally, Evercore ISI restated an “in-line” rating and set a $44.00 price target on shares of Truist Financial in a report on Thursday, May 9th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.17.

Truist Financial Trading Up 0.2 %

NYSE:TFC opened at $36.63 on Friday. Truist Financial Co. has a 12 month low of $26.57 and a 12 month high of $40.51. The firm has a market cap of $49.01 billion, a price-to-earnings ratio of -27.75, a P/E/G ratio of 1.81 and a beta of 1.06. 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 company’s 50 day moving average is $37.74 and its 200-day moving average is $36.97.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.12. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The company had revenue of $4.87 billion for the quarter, compared to analyst estimates of $5.70 billion. During the same quarter last year, the firm posted $1.09 earnings per share. The company’s quarterly revenue was down 8.8% compared to the same quarter last year. Equities analysts anticipate that Truist Financial Co. will post 3.36 EPS for the current year.

Truist Financial Dividend Announcement

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

Truist Financial Company 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.