Truist Financial Co. (NYSE:TFC) Shares Sold by Calton & Associates Inc.

Calton & Associates Inc. trimmed its position in shares of Truist Financial Co. (NYSE:TFC) by 49.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,143 shares of the insurance provider’s stock after selling 5,000 shares during the period. Calton & Associates Inc.’s holdings in Truist Financial were worth $200,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in TFC. Norges Bank acquired a new stake in Truist Financial during the 4th quarter valued at $307,787,000. Parnassus Investments LLC acquired a new stake in Truist Financial during the 4th quarter valued at $95,049,000. Azora Capital LP acquired a new stake in Truist Financial during the 4th quarter valued at $72,498,000. Charles Schwab Investment Management Inc. grew its holdings in Truist Financial by 8.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 19,238,388 shares of the insurance provider’s stock valued at $690,793,000 after purchasing an additional 1,458,248 shares in the last quarter. Finally, Panagora Asset Management Inc. grew its holdings in Truist Financial by 9,218.0% during the 4th quarter. Panagora Asset Management Inc. now owns 1,205,191 shares of the insurance provider’s stock worth $44,496,000 after acquiring an additional 1,192,257 shares in the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Price Performance

NYSE TFC opened at $38.85 on Friday. Truist Financial Co. has a 52 week low of $26.57 and a 52 week high of $40.51. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.75. The stock has a market cap of $51.99 billion, a price-to-earnings ratio of -29.43, a price-to-earnings-growth ratio of 1.99 and a beta of 1.06. The company has a 50-day moving average price of $37.89 and a two-hundred day moving average price of $37.13.

Truist Financial (NYSE:TFC) last posted its earnings results on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $4.87 billion during the quarter, compared to analysts’ expectations of $5.70 billion. During the same quarter in the prior year, the firm earned $1.09 EPS. Truist Financial’s quarterly revenue was down 8.8% on a year-over-year basis. Analysts forecast that Truist Financial Co. will post 3.36 EPS for the current year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 10th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 5.35%. The ex-dividend date was Thursday, May 9th. Truist Financial’s dividend payout ratio (DPR) is -157.58%.

Analysts Set New Price Targets

Several brokerages have weighed in on TFC. Citigroup raised their price objective 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. Morgan Stanley reissued an “equal weight” rating and set a $43.00 price objective on shares of Truist Financial in a report on Monday, April 22nd. Wells Fargo & Company raised their price objective 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. UBS Group raised their price objective on shares of Truist Financial from $45.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Finally, Stephens raised their price objective on shares of Truist Financial from $43.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, May 16th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $43.17.

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.