Cobblestone Capital Advisors LLC NY Sells 5,310 Shares of Truist Financial Co. (NYSE:TFC)

Cobblestone Capital Advisors LLC NY reduced its stake in shares of Truist Financial Co. (NYSE:TFC) by 37.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 8,735 shares of the insurance provider’s stock after selling 5,310 shares during the quarter. Cobblestone Capital Advisors LLC NY’s holdings in Truist Financial were worth $379,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of TFC. Sage Investment Counsel LLC purchased a new position in shares of Truist Financial in the fourth quarter worth $398,000. SVB Wealth LLC bought a new stake in Truist Financial in the 4th quarter worth $984,000. Pettyjohn Wood & White Inc. increased its position in shares of Truist Financial by 5.4% in the fourth quarter. Pettyjohn Wood & White Inc. now owns 81,082 shares of the insurance provider’s stock valued at $3,517,000 after acquiring an additional 4,157 shares during the period. Argyle Capital Management LLC raised its stake in shares of Truist Financial by 5.6% during the fourth quarter. Argyle Capital Management LLC now owns 46,266 shares of the insurance provider’s stock valued at $2,007,000 after acquiring an additional 2,441 shares during the last quarter. Finally, Fort Sheridan Advisors LLC boosted its holdings in shares of Truist Financial by 25.3% during the fourth quarter. Fort Sheridan Advisors LLC now owns 26,060 shares of the insurance provider’s stock worth $1,130,000 after purchasing an additional 5,255 shares during the period. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Performance

Shares of TFC opened at $46.37 on Friday. Truist Financial Co. has a 52 week low of $34.51 and a 52 week high of $49.06. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. The stock has a market cap of $60.52 billion, a P/E ratio of 13.92, a P/E/G ratio of 1.63 and a beta of 1.08. The business’s 50 day moving average price is $45.78 and its 200-day moving average price is $44.64.

Truist Financial (NYSE:TFC) last released its earnings results on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.88 by $0.03. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The business had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.05 billion. During the same period in the previous year, the company posted $0.81 earnings per share. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. Equities research analysts anticipate that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be paid a dividend of $0.52 per share. The ex-dividend date is Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a yield of 4.49%. Truist Financial’s dividend payout ratio is currently 62.46%.

Insiders Place Their Bets

In other news, Director K. David Jr. Boyer sold 4,966 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total transaction of $229,429.20. Following the sale, the director now owns 11,246 shares in the company, valued at $519,565.20. This represents a 30.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

TFC has been the topic of a number of research analyst reports. The Goldman Sachs Group boosted their price target on Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Stephens boosted their target price on Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Wells Fargo & Company raised their price target on Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. HSBC raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research report on Tuesday, January 7th. Finally, Compass Point raised their target price on shares of Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Eleven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.79.

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.