Truist Financial Co. (NYSE:TFC) Shares Sold by First Hawaiian Bank

First Hawaiian Bank lowered its stake in shares of Truist Financial Co. (NYSE:TFC) by 66.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,043 shares of the insurance provider’s stock after selling 21,736 shares during the quarter. First Hawaiian Bank’s holdings in Truist Financial were worth $479,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Bangor Savings Bank increased its position in shares of 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 purchasing an additional 272 shares during the last quarter. Valley Wealth Managers Inc. bought a new stake in Truist Financial in the third quarter valued at about $26,000. Y.D. More Investments Ltd acquired a new stake in Truist Financial during the second quarter valued at approximately $31,000. MidAtlantic Capital Management Inc. bought a new position in Truist Financial during the 3rd quarter worth approximately $32,000. Finally, Fortitude Family Office LLC grew its position in shares of Truist Financial by 376.7% in the 3rd quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock worth $37,000 after acquiring an additional 678 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Truist Financial Price Performance

Shares of NYSE:TFC opened at $42.83 on Friday. The stock’s 50 day moving average price is $45.36 and its 200 day moving average price is $43.34. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market cap of $56.86 billion, a price-to-earnings ratio of -29.95, a PEG ratio of 1.88 and a beta of 1.08. Truist Financial Co. has a 12 month low of $34.23 and a 12 month high of $49.06.

Truist Financial (NYSE:TFC) last announced its earnings results on Thursday, October 17th. The insurance provider reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.08. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. The business had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $5.05 billion. Equities research analysts anticipate that Truist Financial Co. will post 3.7 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 8th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.86%. The ex-dividend date was Friday, November 8th. Truist Financial’s dividend payout ratio is presently -145.45%.

Insider Buying and Selling

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

Analyst Ratings Changes

Several research firms recently issued reports on TFC. Barclays upped their price target on Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. Compass Point raised their price target on shares of Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Piper Sandler boosted their price objective on shares of Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. HSBC raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Tuesday, January 7th. Finally, StockNews.com lowered Truist Financial from a “hold” rating to a “sell” rating in a report on Thursday. One analyst has rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $49.89.

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.