Westwood Holdings Group Inc. Reduces Holdings in Truist Financial Co. (NYSE:TFC)

Westwood Holdings Group Inc. cut its stake in shares of Truist Financial Co. (NYSE:TFC) by 9.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,491 shares of the insurance provider’s stock after selling 1,335 shares during the quarter. Westwood Holdings Group Inc.’s holdings in Truist Financial were worth $542,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of TFC. Hopwood Financial Services Inc. purchased a new stake in Truist Financial during the 4th quarter valued at about $26,000. Navigoe LLC purchased a new stake in Truist Financial during the 4th quarter valued at about $26,000. Curio Wealth LLC purchased a new stake in Truist Financial during the 4th quarter valued at about $45,000. Brown Lisle Cummings Inc. bought a new position in Truist Financial during the 4th quarter valued at approximately $55,000. Finally, TCTC Holdings LLC raised its position in Truist Financial by 28.1% during the 4th quarter. TCTC Holdings LLC now owns 1,310 shares of the insurance provider’s stock valued at $57,000 after purchasing an additional 287 shares during the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Truist Financial Stock Performance

Truist Financial stock opened at $40.65 on Wednesday. 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 company has a market capitalization of $53.23 billion, a P/E ratio of 12.21, a PEG ratio of 1.63 and a beta of 0.83. The stock’s 50 day moving average is $38.88 and its 200 day moving average is $43.21. Truist Financial Co. has a twelve month low of $33.56 and a twelve month high of $49.06.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, hitting the consensus estimate of $0.87. The company had revenue of $4.95 billion for the quarter, compared to the consensus estimate of $4.99 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. During the same quarter in the prior year, the business posted $0.90 EPS. On average, equities research analysts predict that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Friday, May 9th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $2.08 annualized dividend and a dividend yield of 5.12%. Truist Financial’s payout ratio is currently 61.36%.

Analyst Upgrades and Downgrades

TFC has been the subject of a number of recent analyst reports. Argus set a $43.00 price target on Truist Financial in a research report on Monday, April 21st. Barclays lowered their price target on Truist Financial from $51.00 to $47.00 and set an “equal weight” rating for the company in a research report on Monday, April 21st. JPMorgan Chase & Co. lowered their price target on Truist Financial from $48.00 to $42.00 and set a “neutral” rating for the company in a research report on Thursday, April 3rd. Raymond James lowered Truist Financial from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods lowered their price target on Truist Financial from $53.00 to $47.00 and set an “outperform” rating for the company in a research report on Monday, April 21st. Nine research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.83.

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.