Diversified Trust Co Sells 4,948 Shares of Truist Financial Co. (NYSE:TFC)

Diversified Trust Co decreased its holdings in shares of Truist Financial Co. (NYSE:TFC) by 2.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 178,623 shares of the insurance provider’s stock after selling 4,948 shares during the quarter. Diversified Trust Co’s holdings in Truist Financial were worth $6,963,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Opal Wealth Advisors LLC bought a new position in shares of Truist Financial in the first quarter worth $29,000. Missouri Trust & Investment Co boosted its position in Truist Financial by 227.2% during the fourth quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock valued at $32,000 after buying an additional 593 shares during the period. Rise Advisors LLC purchased a new stake in Truist Financial during the first quarter valued at about $32,000. Morton Brown Family Wealth LLC boosted its position in Truist Financial by 236.0% during the fourth quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock valued at $34,000 after buying an additional 649 shares during the period. Finally, Northwest Financial Advisors bought a new position in shares of Truist Financial during the fourth quarter valued at about $34,000. Institutional investors own 71.28% of the company’s stock.

Truist Financial Price Performance

Shares of TFC traded up $0.09 during trading hours on Monday, reaching $38.94. 1,733,357 shares of the stock traded hands, compared to its average volume of 8,626,184. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.75. Truist Financial Co. has a 52-week low of $26.57 and a 52-week high of $40.51. The company’s 50-day moving average price is $37.89 and its two-hundred day moving average price is $37.16. The company has a market cap of $52.11 billion, a P/E ratio of -29.69, a price-to-earnings-growth ratio of 2.04 and a beta of 1.07.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.78 by $0.12. The business had revenue of $4.87 billion for the quarter, compared to analysts’ expectations of $5.70 billion. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The business’s quarterly revenue was down 8.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.09 EPS. On average, analysts anticipate that Truist Financial Co. will post 3.36 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 10th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 5.34%. The ex-dividend date was Thursday, May 9th. Truist Financial’s payout ratio is currently -157.58%.

Analysts Set New Price Targets

TFC has been the subject of several recent analyst reports. Citigroup upped their price objective on shares of Truist Financial from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. JPMorgan Chase & Co. upped their price objective on shares of Truist Financial from $39.50 to $40.50 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Evercore ISI reaffirmed an “in-line” rating and set a $44.00 price objective on shares of Truist Financial in a research note on Thursday, May 9th. Jefferies Financial Group upped their price objective on shares of Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a research note on Monday, April 8th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a research note on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Truist Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.17.

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.