Dorsey & Whitney Trust CO LLC Trims Position in Truist Financial Co. (NYSE:TFC)

Dorsey & Whitney Trust CO LLC cut its holdings in shares of Truist Financial Co. (NYSE:TFC) by 34.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,222 shares of the insurance provider’s stock after selling 4,275 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in Truist Financial were worth $357,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Larson Financial Group LLC increased its holdings in shares of Truist Financial by 24.1% during the 4th quarter. Larson Financial Group LLC now owns 1,841 shares of the insurance provider’s stock valued at $80,000 after purchasing an additional 358 shares in the last quarter. AMF Tjanstepension AB increased its holdings in shares of Truist Financial by 478.5% during the 4th quarter. AMF Tjanstepension AB now owns 433,911 shares of the insurance provider’s stock valued at $18,823,000 after purchasing an additional 358,901 shares in the last quarter. Davis Selected Advisers increased its holdings in shares of Truist Financial by 5.9% during the 4th quarter. Davis Selected Advisers now owns 145,379 shares of the insurance provider’s stock valued at $6,307,000 after purchasing an additional 8,141 shares in the last quarter. Banco Santander S.A. increased its holdings in shares of Truist Financial by 83.6% during the 4th quarter. Banco Santander S.A. now owns 10,233 shares of the insurance provider’s stock valued at $444,000 after purchasing an additional 4,659 shares in the last quarter. Finally, Machina Capital S.A.S. purchased a new position in shares of Truist Financial during the 4th quarter valued at approximately $1,085,000. 71.28% of the stock is owned by hedge funds and other institutional investors.

Truist Financial Trading Down 4.2 %

Shares of TFC opened at $40.41 on Tuesday. The firm’s fifty day moving average is $45.67 and its two-hundred day moving average is $44.68. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. The stock has a market cap of $52.75 billion, a PE ratio of 12.13, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. Truist Financial Co. has a 52-week low of $34.51 and a 52-week high of $49.06.

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

Truist Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a dividend of $0.52 per share. The ex-dividend date was Friday, February 14th. This represents a $2.08 annualized dividend and a dividend yield of 5.15%. Truist Financial’s payout ratio is 62.46%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Robert W. Baird raised shares of Truist Financial from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $48.00 to $52.00 in a report on Wednesday, March 5th. The Goldman Sachs Group lifted their price target on shares of Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Barclays lifted their price target on shares of Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Morgan Stanley lifted their price target on shares of Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. Finally, StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. Nine analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Truist Financial has an average rating of “Moderate Buy” and an average price target of $51.16.

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.