Truist Financial Co. (NYSE:TFC) Shares Sold by Delta Asset Management LLC TN

Delta Asset Management LLC TN decreased its stake in shares of Truist Financial Co. (NYSE:TFC) by 0.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 317,411 shares of the insurance provider’s stock after selling 3,025 shares during the quarter. Truist Financial comprises 1.2% of Delta Asset Management LLC TN’s holdings, making the stock its 24th biggest position. Delta Asset Management LLC TN’s holdings in Truist Financial were worth $13,769,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bangor Savings Bank raised its stake in Truist Financial by 92.5% in the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock worth $25,000 after acquiring an additional 272 shares during the last quarter. Hopwood Financial Services Inc. purchased a new position in shares of Truist Financial in the fourth quarter worth about $26,000. Curio Wealth LLC acquired a new stake in shares of Truist Financial during the fourth quarter worth about $45,000. City State Bank boosted its position in Truist Financial by 158.1% in the fourth quarter. City State Bank now owns 1,169 shares of the insurance provider’s stock valued at $51,000 after buying an additional 716 shares during the last quarter. Finally, True Wealth Design LLC acquired a new position in Truist Financial in the 3rd quarter worth approximately $51,000. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TFC has been the subject of a number of research reports. Robert W. Baird upgraded shares of Truist Financial from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $48.00 to $52.00 in a research report on Wednesday, March 5th. Piper Sandler upped their target price on Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Morgan Stanley lifted their price target on Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. Citigroup lowered their price objective on Truist Financial from $51.00 to $44.00 and set a “neutral” rating on the stock in a research report on Monday. Finally, HSBC upgraded shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Tuesday, January 7th. Nine investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $50.79.

Truist Financial Price Performance

Truist Financial stock opened at $41.97 on Thursday. The company has a fifty day simple moving average of $45.00 and a 200-day simple moving average of $44.43. The firm has a market capitalization of $54.79 billion, a price-to-earnings ratio of 12.60, a PEG ratio of 1.63 and a beta of 1.08. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. Truist Financial Co. has a 52-week low of $35.09 and a 52-week high of $49.06.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.03. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The company had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.05 billion. During the same quarter in the prior year, the company earned $0.81 EPS. Truist Financial’s revenue was up 3.4% compared to the same quarter last year. On average, equities analysts anticipate that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.96%. The ex-dividend date was Friday, February 14th. Truist Financial’s dividend payout ratio (DPR) is currently 62.46%.

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.