Nemes Rush Group LLC Reduces Stake in Truist Financial Co. (NYSE:TFC)

Nemes Rush Group LLC trimmed its position in shares of Truist Financial Co. (NYSE:TFC) by 27.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,797 shares of the insurance provider’s stock after selling 1,436 shares during the quarter. Nemes Rush Group LLC’s holdings in Truist Financial were worth $165,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of TFC. Bangor Savings Bank grew its stake in Truist Financial by 92.5% in the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock valued at $25,000 after acquiring an additional 272 shares during the last quarter. Hopwood Financial Services Inc. purchased a new stake in shares of Truist Financial in the fourth quarter valued at about $26,000. Curio Wealth LLC acquired a new stake in shares of Truist Financial in the fourth quarter valued at approximately $45,000. City State Bank increased its stake in shares of Truist Financial by 158.1% during the 4th quarter. City State Bank now owns 1,169 shares of the insurance provider’s stock worth $51,000 after purchasing an additional 716 shares in the last quarter. Finally, Brown Lisle Cummings Inc. acquired a new position in shares of Truist Financial during the 4th quarter worth approximately $55,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Price Performance

Truist Financial stock opened at $41.00 on Wednesday. The firm has a fifty day moving average of $44.51 and a 200-day moving average of $44.43. Truist Financial Co. has a 52-week low of $35.09 and a 52-week high of $49.06. 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 firm has a market capitalization of $53.51 billion, a P/E ratio of 12.31, a PEG ratio of 1.63 and a beta of 1.08.

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

Truist Financial Announces Dividend

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 dividend of $0.52 per share. The ex-dividend date was Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.07%. Truist Financial’s dividend payout ratio is currently 62.46%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Piper Sandler raised their price target on Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Compass Point boosted their target price on shares of Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Wells Fargo & Company reduced their target price on shares of Truist Financial from $52.00 to $50.00 and set an “overweight” rating on the stock in a report on Friday, March 28th. Morgan Stanley lifted their price target on shares of Truist Financial from $55.00 to $56.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a research note on Tuesday, January 21st. Nine analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Truist Financial presently has an average rating of “Moderate Buy” and a consensus price target of $50.68.

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.