Trust Co. of Vermont Lowers Stock Holdings in Truist Financial Co. (NYSE:TFC)

Trust Co. of Vermont cut its holdings in Truist Financial Co. (NYSE:TFC) by 2.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,081 shares of the insurance provider’s stock after selling 697 shares during the quarter. Trust Co. of Vermont’s holdings in Truist Financial were worth $1,392,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Bangor Savings Bank increased its holdings 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 in the last quarter. Valley Wealth Managers Inc. purchased a new stake in shares of Truist Financial during the third quarter worth about $26,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Truist Financial during the 3rd quarter worth about $32,000. Fortitude Family Office LLC lifted its stake in Truist Financial by 376.7% in the 3rd quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock valued at $37,000 after buying an additional 678 shares in the last quarter. Finally, Ashton Thomas Securities LLC acquired a new stake in Truist Financial in the 3rd quarter worth about $45,000. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Stock Performance

Shares of TFC stock opened at $47.63 on Friday. Truist Financial Co. has a 1-year low of $34.23 and a 1-year high of $49.06. The company has a 50-day moving average of $45.40 and a two-hundred day moving average of $43.54. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. The firm had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5,047,370 billion. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the company posted $0.81 EPS. Equities analysts anticipate that Truist Financial Co. will post 3.61 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 8th were issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $2.08 annualized dividend and a dividend yield of 4.37%. Truist Financial’s dividend payout ratio is presently -145.45%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TFC. Royal Bank of Canada increased their target price on Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Piper Sandler raised their price objective on Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Citigroup lifted their target price on shares of Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a research note on Monday, November 25th. Barclays increased their target price on shares of Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. Finally, HSBC upgraded shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Tuesday, January 7th. Eleven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $49.95.

Insider Buying and Selling

In other Truist Financial news, CEO William H. Rogers, Jr. bought 34,180 shares of Truist Financial stock in a transaction on Monday, November 25th. The shares were bought at an average cost of $48.56 per share, for a total transaction of $1,659,780.80. Following the acquisition, the chief executive officer now directly owns 691,451 shares in the company, valued at $33,576,860.56. This represents a 5.20 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director K. David Jr. Boyer sold 4,966 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total transaction of $229,429.20. Following the completion of the transaction, the director now owns 11,246 shares of the company’s stock, valued at approximately $519,565.20. This trade represents a 30.63 % decrease in their position. The disclosure for this sale can be found here. 0.17% of the stock is owned by corporate insiders.

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.