Weaver C. Barksdale & Associates Inc. Reduces Position in Truist Financial Co. (NYSE:TFC)

Weaver C. Barksdale & Associates Inc. trimmed its holdings in Truist Financial Co. (NYSE:TFC) by 2.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 22,933 shares of the insurance provider’s stock after selling 586 shares during the quarter. Weaver C. Barksdale & Associates Inc.’s holdings in Truist Financial were worth $996,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ausdal Financial Partners Inc. purchased a new stake in Truist Financial in the fourth quarter worth $212,000. Zions Bancorporation N.A. increased its stake in Truist Financial by 9.9% in the 4th quarter. Zions Bancorporation N.A. now owns 156,174 shares of the insurance provider’s stock worth $6,775,000 after buying an additional 14,005 shares during the period. TIAA Trust National Association lifted its holdings in Truist Financial by 1.2% during the 4th quarter. TIAA Trust National Association now owns 23,822 shares of the insurance provider’s stock valued at $1,033,000 after buying an additional 283 shares in the last quarter. Modern Wealth Management LLC purchased a new stake in Truist Financial in the 4th quarter valued at about $219,000. Finally, Prudential Financial Inc. grew its stake in Truist Financial by 26.9% in the 4th quarter. Prudential Financial Inc. now owns 3,232,287 shares of the insurance provider’s stock worth $140,217,000 after acquiring an additional 684,992 shares in the last quarter. 71.28% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TFC. Stephens lifted their price target on shares of Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Raymond James upped their target price on Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Morgan Stanley raised their price target on Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. The Goldman Sachs Group upped their price objective on shares of Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, 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 research report on Tuesday, January 7th. Nine research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $50.79.

Truist Financial Stock Down 0.5 %

TFC stock opened at $41.96 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. Truist Financial Co. has a 52 week low of $35.09 and a 52 week high of $49.06. The stock has a market capitalization of $54.77 billion, a PE ratio of 12.60, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. The firm has a 50 day moving average of $45.06 and a 200 day moving average of $44.45.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. The firm had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.81 earnings per share. Sell-side analysts forecast that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.96%. The ex-dividend date was Friday, February 14th. Truist Financial’s payout ratio is 62.46%.

About Truist Financial

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.