Truist Financial Co. (NYSE:TFC) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. reduced its stake in shares of Truist Financial Co. (NYSE:TFC) by 1.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 10,000,078 shares of the insurance provider’s stock after selling 194,579 shares during the quarter. Truist Financial comprises 0.9% of Federated Hermes Inc.’s portfolio, making the stock its 15th biggest holding. Federated Hermes Inc.’s holdings in Truist Financial were worth $369,203,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TFC. Bleakley Financial Group LLC grew its position in shares of Truist Financial by 6.1% in the fourth quarter. Bleakley Financial Group LLC now owns 29,890 shares of the insurance provider’s stock valued at $1,104,000 after purchasing an additional 1,731 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Truist Financial by 53.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 338,972 shares of the insurance provider’s stock valued at $12,515,000 after buying an additional 117,524 shares during the period. International Assets Investment Management LLC lifted its stake in shares of Truist Financial by 3,359.6% during the fourth quarter. International Assets Investment Management LLC now owns 1,045,560 shares of the insurance provider’s stock valued at $38,602,000 after buying an additional 1,015,338 shares during the period. Douglas Lane & Associates LLC lifted its stake in shares of Truist Financial by 6.3% during the third quarter. Douglas Lane & Associates LLC now owns 1,544,537 shares of the insurance provider’s stock valued at $44,189,000 after buying an additional 91,579 shares during the period. Finally, Loudon Investment Management LLC lifted its stake in shares of Truist Financial by 18.5% during the third quarter. Loudon Investment Management LLC now owns 131,398 shares of the insurance provider’s stock valued at $3,759,000 after buying an additional 20,490 shares during the period. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Stock Up 0.6 %

Truist Financial stock traded up $0.23 during midday trading on Thursday, hitting $35.89. The stock had a trading volume of 1,822,141 shares, compared to its average volume of 9,616,812. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.74. The business has a fifty day moving average price of $36.62 and a 200 day moving average price of $34.36. Truist Financial Co. has a 12 month low of $25.56 and a 12 month high of $39.29. The stock has a market cap of $47.90 billion, a P/E ratio of -33.04, a P/E/G ratio of 2.20 and a beta of 1.08.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Thursday, January 18th. The insurance provider reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.13. Truist Financial had a positive return on equity of 9.64% and a negative net margin of 3.28%. The business had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.70 billion. During the same period in the previous year, the business earned $1.30 EPS. Research analysts predict that Truist Financial Co. will post 3.33 EPS for the current year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 5.80%. The ex-dividend date of this dividend was Thursday, February 8th. Truist Financial’s dividend payout ratio (DPR) is presently -192.59%.

Insider Buying and Selling

In related news, Director K. David Jr. Boyer sold 3,764 shares of Truist Financial stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $37.48, for a total transaction of $141,074.72. Following the transaction, the director now directly owns 16,132 shares of the company’s stock, valued at $604,627.36. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.17% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

TFC has been the topic of several recent analyst reports. Wells Fargo & Company upped their price objective on shares of Truist Financial from $39.00 to $45.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Piper Sandler increased their price target on shares of Truist Financial from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, January 19th. TheStreet downgraded shares of Truist Financial from a “b-” rating to a “c” rating in a research note on Tuesday, February 20th. Royal Bank of Canada increased their price target on shares of Truist Financial from $40.00 to $42.00 and gave the stock an “outperform” rating in a research note on Friday, January 19th. Finally, Raymond James increased their price target on shares of Truist Financial from $34.00 to $41.00 and gave the stock an “outperform” rating in a research note on Friday, January 5th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Truist Financial presently has a consensus rating of “Hold” and an average price target of $41.47.

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.