Mitchell Mcleod Pugh & Williams Inc. Cuts Position in Truist Financial Co. (NYSE:TFC)

Mitchell Mcleod Pugh & Williams Inc. lowered its stake in shares of Truist Financial Co. (NYSE:TFC) by 6.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,293 shares of the insurance provider’s stock after selling 846 shares during the period. Mitchell Mcleod Pugh & Williams Inc.’s holdings in Truist Financial were worth $533,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. 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. Valley Wealth Managers Inc. purchased a new stake in shares of Truist Financial in the third quarter valued at $26,000. MidAtlantic Capital Management Inc. acquired a new position in Truist Financial in the third quarter valued at $32,000. Fortitude Family Office LLC lifted its position in Truist Financial by 376.7% during the third 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 period. Finally, Ashton Thomas Securities LLC acquired a new stake in Truist Financial in the 3rd quarter worth about $45,000. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Truist Financial news, Director K. David Jr. Boyer sold 4,966 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total transaction of $229,429.20. Following the sale, the director now directly owns 11,246 shares of the company’s stock, valued at $519,565.20. The trade was a 30.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William H. Rogers, Jr. bought 34,180 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was acquired at an average cost of $48.56 per share, with a total value of $1,659,780.80. Following the transaction, the chief executive officer now owns 691,451 shares of the company’s stock, valued at $33,576,860.56. This trade represents a 5.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.17% of the company’s stock.

Truist Financial Stock Performance

TFC stock opened at $47.63 on Tuesday. The stock’s fifty day moving average is $45.40 and its two-hundred day moving average is $43.60. The stock has a market capitalization of $63.23 billion, a price-to-earnings ratio of -33.31, a PEG ratio of 1.67 and a beta of 1.08. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85. Truist Financial Co. has a 1 year low of $34.23 and a 1 year high of $49.06.

Truist Financial (NYSE:TFC) last posted its earnings results on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.88 by $0.03. The firm had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5,047,370 billion. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. Truist Financial’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.81 EPS. On average, research analysts predict that Truist Financial Co. will post 3.61 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Raymond James increased their price target on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Barclays lifted their target price on Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. JPMorgan Chase & Co. lifted their price objective on Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Royal Bank of Canada raised their price target on shares of Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Finally, UBS Group boosted their price objective on shares of Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Eleven research 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $49.95.

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.