First Horizon Advisors Inc. Sells 533 Shares of Truist Financial Co. (NYSE:TFC)

First Horizon Advisors Inc. decreased its stake in shares of Truist Financial Co. (NYSE:TFC) by 2.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 20,519 shares of the insurance provider’s stock after selling 533 shares during the period. First Horizon Advisors Inc.’s holdings in Truist Financial were worth $758,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Valmark Advisers Inc. boosted its holdings in Truist Financial by 2.2% during the fourth quarter. Valmark Advisers Inc. now owns 12,965 shares of the insurance provider’s stock valued at $479,000 after acquiring an additional 277 shares during the period. Mechanics Financial Corp boosted its stake in Truist Financial by 7.4% during the 4th quarter. Mechanics Financial Corp now owns 4,345 shares of the insurance provider’s stock valued at $160,000 after purchasing an additional 300 shares during the period. Day & Ennis LLC grew its holdings in Truist Financial by 4.3% in the 4th quarter. Day & Ennis LLC now owns 7,525 shares of the insurance provider’s stock valued at $278,000 after buying an additional 311 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA increased its position in Truist Financial by 32.0% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,333 shares of the insurance provider’s stock worth $49,000 after buying an additional 323 shares during the period. Finally, Cape Investment Advisory Inc. lifted its holdings in shares of Truist Financial by 7.4% during the third quarter. Cape Investment Advisory Inc. now owns 4,849 shares of the insurance provider’s stock worth $139,000 after buying an additional 335 shares during the last quarter. 71.28% of the stock is owned by institutional investors.

Truist Financial Trading Up 1.3 %

TFC opened at $38.85 on Friday. Truist Financial Co. has a twelve month low of $25.56 and a twelve month high of $39.29. The firm’s 50-day simple moving average is $37.16 and its 200-day simple moving average is $35.14. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.75.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.12. The company had revenue of $4.87 billion during the quarter, compared to analyst estimates of $5.70 billion. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The company’s revenue was down 8.8% on a year-over-year basis. During the same quarter last year, the business posted $1.09 earnings per share. As a group, sell-side analysts forecast that Truist Financial Co. will post 3.3 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 10th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 5.35%. The ex-dividend date is Thursday, May 9th. Truist Financial’s dividend payout ratio is currently -157.58%.

Analyst Ratings Changes

Several brokerages have recently issued reports on TFC. Stephens restated an “overweight” rating and issued a $43.00 price objective on shares of Truist Financial in a research note on Tuesday, April 23rd. Royal Bank of Canada boosted their price objective on shares of Truist Financial from $40.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. Keefe, Bruyette & Woods increased their target price on shares of Truist Financial from $44.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, April 5th. Wells Fargo & Company upped their price target on Truist Financial from $39.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Finally, Citigroup lifted their price objective on Truist Financial from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $41.88.

Insider Transactions at Truist Financial

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 value of $141,074.72. Following the completion of 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.17% of the company’s stock.

Truist Financial Company 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.