SeaCrest Wealth Management LLC Decreases Stock Position in Truist Financial Co. (NYSE:TFC)

SeaCrest Wealth Management LLC lessened its position in shares of Truist Financial Co. (NYSE:TFC) by 1.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 48,711 shares of the insurance provider’s stock after selling 718 shares during the period. SeaCrest Wealth Management LLC’s holdings in Truist Financial were worth $1,832,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. EPG Wealth Management LLC lifted its stake in shares of Truist Financial by 1.8% in the 4th quarter. EPG Wealth Management LLC now owns 12,219 shares of the insurance provider’s stock worth $526,000 after purchasing an additional 213 shares during the period. Williams Jones Wealth Management LLC. boosted its stake in shares of Truist Financial by 5.8% during the 1st quarter. Williams Jones Wealth Management LLC. now owns 4,850 shares of the insurance provider’s stock worth $275,000 after acquiring an additional 268 shares during the last quarter. Financial Advocates Investment Management increased its stake in shares of Truist Financial by 3.5% in the 4th quarter. Financial Advocates Investment Management now owns 9,071 shares of the insurance provider’s stock worth $390,000 after purchasing an additional 306 shares in the last quarter. SVB Wealth LLC raised its holdings in Truist Financial by 7.9% in the 2nd quarter. SVB Wealth LLC now owns 4,568 shares of the insurance provider’s stock worth $217,000 after purchasing an additional 335 shares during the period. Finally, Cape Investment Advisory Inc. grew its holdings in Truist Financial by 7.4% during the third quarter. Cape Investment Advisory Inc. now owns 4,849 shares of the insurance provider’s stock valued at $139,000 after purchasing an additional 335 shares during the period. Institutional investors own 71.28% of the company’s stock.

Insider Buying and Selling at Truist Financial

In related news, Director K. David Jr. Boyer sold 3,764 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $37.48, for a total transaction of $141,074.72. Following the sale, the director now directly owns 16,132 shares in the company, valued at $604,627.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.17% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Royal Bank of Canada boosted their price target on Truist Financial from $40.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. TheStreet cut shares of Truist Financial from a “b-” rating to a “c” rating in a research note on Tuesday, February 20th. Morgan Stanley increased their target price on Truist Financial from $38.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 30th. StockNews.com lowered Truist Financial from a “hold” rating to a “sell” rating in a report on Thursday. Finally, Keefe, Bruyette & Woods raised their price objective on Truist Financial from $42.00 to $44.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. One 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 data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $40.30.

Truist Financial Price Performance

Truist Financial stock traded up $0.38 during midday trading on Thursday, reaching $38.97. The company had a trading volume of 8,403,567 shares, compared to its average volume of 9,890,929. Truist Financial Co. has a 12-month low of $25.56 and a 12-month high of $39.29. The firm’s fifty day simple moving average is $36.41 and its 200-day simple moving average is $33.42. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market capitalization of $52.01 billion, a P/E ratio of -36.08, a P/E/G ratio of 1.58 and a beta of 1.07.

Truist Financial (NYSE:TFC) last released its earnings results on Thursday, January 18th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.13. The business had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.70 billion. Truist Financial had a negative net margin of 3.28% and a positive return on equity of 9.64%. During the same quarter in the prior year, the firm earned $1.30 earnings per share. As a group, equities analysts anticipate that Truist Financial Co. will post 3.39 EPS for the current year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were issued a dividend of $0.52 per share. 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 presently -192.59%.

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.