First County Bank CT Sells 502 Shares of Truist Financial Co. (NYSE:TFC)

First County Bank CT decreased its stake in shares of Truist Financial Co. (NYSE:TFC) by 2.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 18,121 shares of the insurance provider’s stock after selling 502 shares during the period. First County Bank CT’s holdings in Truist Financial were worth $786,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of TFC. Principal Financial Group Inc. lifted its holdings in Truist Financial by 3.5% during the 3rd quarter. Principal Financial Group Inc. now owns 1,511,299 shares of the insurance provider’s stock worth $64,638,000 after purchasing an additional 50,637 shares during the last quarter. Cadence Bank lifted its holdings in shares of Truist Financial by 101.6% during the third quarter. Cadence Bank now owns 185,184 shares of the insurance provider’s stock worth $7,920,000 after buying an additional 93,322 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Truist Financial by 3.5% in the second quarter. Dimensional Fund Advisors LP now owns 8,932,261 shares of the insurance provider’s stock valued at $346,957,000 after acquiring an additional 299,196 shares during the period. Boston Common Asset Management LLC grew its stake in shares of Truist Financial by 66.4% in the third quarter. Boston Common Asset Management LLC now owns 154,523 shares of the insurance provider’s stock valued at $6,609,000 after acquiring an additional 61,683 shares in the last quarter. Finally, Independent Advisor Alliance increased its position in Truist Financial by 10.7% during the third quarter. Independent Advisor Alliance now owns 282,607 shares of the insurance provider’s stock worth $12,087,000 after acquiring an additional 27,408 shares during the period. 71.28% of the stock is owned by institutional investors.

Insider Transactions at Truist Financial

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

Truist Financial Stock Performance

Shares of NYSE:TFC traded down $0.23 during mid-day trading on Tuesday, reaching $43.87. The company had a trading volume of 4,069,071 shares, compared to its average volume of 5,069,620. The company’s 50-day moving average price is $45.31 and its 200-day moving average price is $43.20. Truist Financial Co. has a one year low of $34.23 and a one year high of $49.06. The firm has a market cap of $58.24 billion, a price-to-earnings ratio of -30.68, a PEG ratio of 1.88 and a beta of 1.08. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.62.

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

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 8th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.74%. The ex-dividend date of this dividend was Friday, November 8th. Truist Financial’s dividend payout ratio is presently -145.45%.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Compass Point raised their target price on shares of Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Barclays lifted their price objective on Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday. Citigroup raised their price target on Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. Wells Fargo & Company upped their price objective on shares of Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Truist Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $49.89.

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.