Truist Financial Co. (NYSE:TFC) Shares Sold by WASHINGTON TRUST Co

WASHINGTON TRUST Co cut its holdings in Truist Financial Co. (NYSE:TFC) by 23.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,731 shares of the insurance provider’s stock after selling 1,116 shares during the period. WASHINGTON TRUST Co’s holdings in Truist Financial were worth $138,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Moneta Group Investment Advisors LLC boosted its holdings in shares of Truist Financial by 12,034.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 20,490,356 shares of the insurance provider’s stock valued at $881,700,000 after acquiring an additional 20,321,500 shares during the period. Norges Bank acquired a new position in Truist Financial during the 4th quarter worth approximately $553,718,000. Morgan Stanley increased its position in shares of Truist Financial by 32.6% in the fourth quarter. Morgan Stanley now owns 15,511,098 shares of the insurance provider’s stock valued at $667,443,000 after buying an additional 3,813,439 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Truist Financial by 65.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 7,592,182 shares of the insurance provider’s stock valued at $258,893,000 after buying an additional 2,992,820 shares during the last quarter. Finally, Imprint Wealth LLC raised its holdings in Truist Financial by 3,152.2% in the 2nd quarter. Imprint Wealth LLC now owns 2,726,575 shares of the insurance provider’s stock valued at $272,658,000 after acquiring an additional 2,642,737 shares during the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Truist Financial

In related news, Director K. David Jr. Boyer sold 3,764 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $37.48, for a total value of $141,074.72. Following the transaction, the director now owns 16,132 shares in the company, valued at $604,627.36. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.17% of the company’s stock.

Truist Financial Trading Up 1.0 %

TFC opened at $38.97 on Friday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.82 and a current ratio of 0.82. The stock’s fifty day simple moving average is $36.41 and its 200 day simple moving average is $33.42. Truist Financial Co. has a 1-year low of $25.56 and a 1-year high of $39.29.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Thursday, January 18th. The insurance provider reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.13. Truist Financial had a positive return on equity of 9.64% and a negative net margin of 3.28%. The firm had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.70 billion. During the same quarter last year, the business earned $1.30 EPS. Equities research analysts expect that Truist Financial Co. will post 3.39 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were paid a $0.52 dividend. The ex-dividend date was Thursday, February 8th. This represents a $2.08 dividend on an annualized basis and a yield of 5.34%. Truist Financial’s dividend payout ratio (DPR) is -192.59%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TFC. Piper Sandler boosted their price objective on Truist Financial from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, January 19th. Royal Bank of Canada raised their price objective on Truist Financial from $40.00 to $42.00 and gave the stock an “outperform” rating in a research note on Friday, January 19th. Odeon Capital Group raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $40.45 target price on the stock in a report on Thursday, December 14th. Barclays raised their price target on Truist Financial from $40.00 to $42.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 2nd. Finally, Bank of America upgraded Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 target price on the stock in a research report on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Truist Financial has an average rating of “Hold” and a consensus target price of $40.30.

About Truist Financial

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.