Truist Financial Co. (NYSE:TFC) Shares Sold by Whittier Trust Co. of Nevada Inc.

Whittier Trust Co. of Nevada Inc. trimmed its holdings in shares of Truist Financial Co. (NYSE:TFC) by 7.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,271 shares of the insurance provider’s stock after selling 723 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Truist Financial were worth $397,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Crewe Advisors LLC acquired a new position in Truist Financial in the 1st quarter valued at about $27,000. MFA Wealth Advisors LLC purchased a new stake in Truist Financial during the 2nd quarter worth approximately $30,000. Y.D. More Investments Ltd acquired a new stake in Truist Financial during the 2nd quarter worth approximately $31,000. Hobbs Group Advisors LLC purchased a new position in Truist Financial in the 2nd quarter valued at approximately $38,000. Finally, Beacon Capital Management LLC increased its position in shares of Truist Financial by 57.4% during the first quarter. Beacon Capital Management LLC now owns 1,015 shares of the insurance provider’s stock worth $40,000 after acquiring an additional 370 shares during the period. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Trading Up 2.3 %

NYSE TFC opened at $43.39 on Wednesday. The firm’s fifty day moving average is $42.73 and its two-hundred day moving average is $40.39. Truist Financial Co. has a one year low of $26.95 and a one year high of $45.31. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.86 and a current ratio of 0.85. The firm has a market cap of $58.06 billion, a PE ratio of -32.87, a P/E/G ratio of 1.83 and a beta of 1.05.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Monday, July 22nd. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.07. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. The firm had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $4.83 billion. During the same quarter in the previous year, the firm posted $0.95 EPS. The firm’s revenue for the quarter was down 15.9% on a year-over-year basis. Analysts expect that Truist Financial Co. will post 3.57 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.79%. Truist Financial’s payout ratio is currently -157.58%.

Insider Buying and Selling

In other Truist Financial news, VP Cynthia B. Powell sold 6,688 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $44.14, for a total value of $295,208.32. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. UBS Group lifted their target price on Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a report on Friday, October 18th. Royal Bank of Canada boosted their price objective on Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. The Goldman Sachs Group decreased their price target on shares of Truist Financial from $50.00 to $48.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Morgan Stanley raised their price objective on shares of Truist Financial from $46.00 to $51.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Finally, Barclays boosted their target price on shares of Truist Financial from $43.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd. Twelve equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $46.02.

Truist Financial Company 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.