Mendel Money Management Reduces Stock Holdings in Truist Financial Co. (NYSE:TFC)

Mendel Money Management lessened its holdings in shares of Truist Financial Co. (NYSE:TFC) by 10.3% in the 4th quarter, HoldingsChannel reports. The firm owned 5,224 shares of the insurance provider’s stock after selling 600 shares during the quarter. Mendel Money Management’s holdings in Truist Financial were worth $227,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in TFC. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Truist Financial by 48.7% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,963 shares of the insurance provider’s stock worth $129,000 after purchasing an additional 971 shares during the period. Principal Financial Group Inc. increased its holdings in Truist Financial by 3.5% in the third quarter. Principal Financial Group Inc. now owns 1,511,299 shares of the insurance provider’s stock valued at $64,638,000 after buying an additional 50,637 shares in the last quarter. Cadence Bank raised its position in shares of Truist Financial by 101.6% in the third quarter. Cadence Bank now owns 185,184 shares of the insurance provider’s stock worth $7,920,000 after acquiring an additional 93,322 shares during the period. Country Club Bank boosted its stake in shares of Truist Financial by 719.8% during the 4th quarter. Country Club Bank now owns 45,499 shares of the insurance provider’s stock worth $1,973,000 after acquiring an additional 39,949 shares in the last quarter. Finally, David Wealth Management LLC acquired a new stake in shares of Truist Financial during the 4th quarter valued at about $2,354,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Price Performance

Shares of TFC opened at $41.96 on Wednesday. The firm has a market capitalization of $54.77 billion, a price-to-earnings ratio of 12.60, a PEG ratio of 1.63 and a beta of 1.08. The firm’s fifty day simple moving average is $45.06 and its 200-day simple moving average is $44.45. Truist Financial Co. has a twelve month low of $35.09 and a twelve month high of $49.06. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61.

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

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a dividend of $0.52 per share. 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%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Robert W. Baird upgraded Truist Financial from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $48.00 to $52.00 in a research report on Wednesday, March 5th. StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, January 17th. The Goldman Sachs Group boosted their target price 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. Barclays lifted their price objective on Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Finally, Stephens raised their target price on Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Nine analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Truist Financial has an average rating of “Moderate Buy” and an average target price 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.