NTV Asset Management LLC Cuts Stake in Truist Financial Co. (NYSE:TFC)

NTV Asset Management LLC lowered its position in shares of Truist Financial Co. (NYSE:TFC) by 7.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 176,676 shares of the insurance provider’s stock after selling 14,905 shares during the quarter. Truist Financial accounts for 1.0% of NTV Asset Management LLC’s investment portfolio, making the stock its 24th largest holding. NTV Asset Management LLC’s holdings in Truist Financial were worth $7,664,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Bangor Savings Bank raised its position in Truist Financial by 92.5% during the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock worth $25,000 after buying an additional 272 shares during the last quarter. Valley Wealth Managers Inc. purchased a new position in Truist Financial during the 3rd quarter worth $26,000. MidAtlantic Capital Management Inc. purchased a new position in Truist Financial during the 3rd quarter worth $32,000. Fortitude Family Office LLC raised its position in Truist Financial by 376.7% during the 3rd quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock worth $37,000 after buying an additional 678 shares during the last quarter. Finally, Ashton Thomas Securities LLC purchased a new position in Truist Financial during the 3rd quarter worth $45,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Insider Activity at Truist Financial

In other Truist Financial news, CEO William H. Rogers, Jr. acquired 34,180 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was bought at an average cost of $48.56 per share, for a total transaction of $1,659,780.80. Following the completion of the purchase, the chief executive officer now directly owns 691,451 shares in the company, valued at $33,576,860.56. This represents a 5.20 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director K. David Jr. Boyer sold 4,966 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was 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 of the company’s stock, valued at approximately $519,565.20. This represents a 30.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.17% of the stock is owned by insiders.

Truist Financial Stock Performance

Shares of NYSE TFC opened at $46.80 on Monday. The company has a market cap of $62.13 billion, a PE ratio of 14.06, a price-to-earnings-growth ratio of 1.69 and a beta of 1.08. Truist Financial Co. has a 12 month low of $34.26 and a 12 month high of $49.06. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. The company has a 50-day simple moving average of $45.53 and a 200-day simple moving average of $44.35.

Truist Financial (NYSE:TFC) last released its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The firm had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.05 billion. During the same period in the previous year, the firm earned $0.81 earnings per share. Truist Financial’s revenue was up 3.4% compared to the same quarter last year. On average, equities analysts anticipate that Truist Financial Co. will post 3.98 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, March 3rd. Investors of record on Friday, February 14th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a yield of 4.44%. Truist Financial’s payout ratio is 62.46%.

Analyst Ratings Changes

TFC has been the subject of a number of research analyst reports. The Goldman Sachs Group increased their price target on shares of Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Hsbc Global Res upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Raymond James increased their price target on shares of Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Barclays increased their price target on shares of Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Tuesday, January 21st. Eleven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Truist Financial presently has an average rating of “Moderate Buy” and a consensus price target of $50.79.

Truist Financial 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.