Opus Capital Group LLC cut its stake in Truist Financial Co. (NYSE:TFC) by 14.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,878 shares of the insurance provider’s stock after selling 2,700 shares during the quarter. Opus Capital Group LLC’s holdings in Truist Financial were worth $926,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Hoover Financial Advisors Inc. acquired a new position in Truist Financial in the fourth quarter worth about $25,000. Atlas Private Wealth Advisors raised its stake in Truist Financial by 890.9% during the 1st quarter. Atlas Private Wealth Advisors now owns 436 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 392 shares during the period. Peoples Financial Services CORP. boosted its holdings in Truist Financial by 173.4% in the fourth quarter. Peoples Financial Services CORP. now owns 544 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 345 shares in the last quarter. Kinloch Capital LLC acquired a new position in shares of Truist Financial during the fourth quarter valued at about $26,000. Finally, Evolution Wealth Advisors LLC raised its position in shares of Truist Financial by 274.1% during the first quarter. Evolution Wealth Advisors LLC now owns 505 shares of the insurance provider’s stock valued at $29,000 after buying an additional 370 shares during the last quarter. 72.11% of the stock is currently owned by institutional investors.
In other Truist Financial news, EVP Michael Baron Maguire sold 3,250 shares of the stock in a transaction on Monday, April 19th. The stock was sold at an average price of $58.16, for a total value of $189,020.00. Following the sale, the executive vice president now owns 7,027 shares in the company, valued at $408,690.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Scott Case sold 9,851 shares of the stock in a transaction on Wednesday, March 17th. The stock was sold at an average price of $58.39, for a total value of $575,199.89. Following the completion of the sale, the executive vice president now owns 20,583 shares in the company, valued at approximately $1,201,841.37. The disclosure for this sale can be found here. Insiders have sold a total of 20,997 shares of company stock worth $1,223,463 in the last 90 days. 0.35% of the stock is currently owned by insiders.
TFC stock traded down $0.48 during midday trading on Tuesday, hitting $58.71. The company’s stock had a trading volume of 151,955 shares, compared to its average volume of 5,913,952. Truist Financial Co. has a 12 month low of $29.87 and a 12 month high of $61.26. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $78.93 billion, a price-to-earnings ratio of 20.13, a price-to-earnings-growth ratio of 1.75 and a beta of 1.36. The company has a 50 day moving average of $58.50 and a two-hundred day moving average of $51.86.
Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Wednesday, April 14th. The insurance provider reported $1.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.07. Truist Financial had a return on equity of 7.76% and a net margin of 16.95%. The business had revenue of $5.48 billion during the quarter, compared to the consensus estimate of $5.43 billion. During the same period in the prior year, the company posted $0.83 EPS. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. On average, analysts anticipate that Truist Financial Co. will post 3.54 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 1st. Stockholders of record on Friday, May 14th will be issued a dividend of $0.45 per share. The ex-dividend date is Thursday, May 13th. This represents a $1.80 annualized dividend and a dividend yield of 3.07%. Truist Financial’s dividend payout ratio (DPR) is 41.19%.
Several research analysts recently issued reports on TFC shares. Stephens increased their price target on shares of Truist Financial from $54.00 to $66.00 in a research report on Tuesday, March 30th. JPMorgan Chase & Co. increased their price target on shares of Truist Financial from $60.50 to $63.00 in a research note on Monday. Raymond James raised their price objective on shares of Truist Financial from $58.00 to $65.00 and gave the company an “outperform” rating in a research note on Tuesday, April 13th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Truist Financial from $56.00 to $65.00 in a report on Monday, March 15th. Finally, Morgan Stanley lifted their price objective on shares of Truist Financial from $65.00 to $68.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 30th. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $55.00.
Truist Financial Profile
Truist Financial Corporation, a holding 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.
Further Reading: Fiduciary
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