BlueChip Wealth Advisors LLC Cuts Stake in Truist Financial Co. (NYSE:TFC)

BlueChip Wealth Advisors LLC lessened its holdings in Truist Financial Co. (NYSE:TFC) by 6.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 56,294 shares of the insurance provider’s stock after selling 3,657 shares during the period. Truist Financial makes up approximately 1.4% of BlueChip Wealth Advisors LLC’s portfolio, making the stock its 18th largest position. BlueChip Wealth Advisors LLC’s holdings in Truist Financial were worth $2,442,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Bangor Savings Bank lifted its stake in Truist Financial by 92.5% during the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 272 shares during the last quarter. Hopwood Financial Services Inc. acquired a new stake in Truist Financial during the 4th quarter worth $26,000. Curio Wealth LLC purchased a new stake in Truist Financial in the fourth quarter valued at $45,000. True Wealth Design LLC purchased a new position in shares of Truist Financial during the third quarter worth about $51,000. Finally, City State Bank boosted its position in shares of Truist Financial by 158.1% in the 4th quarter. City State Bank now owns 1,169 shares of the insurance provider’s stock valued at $51,000 after purchasing an additional 716 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Down 2.3 %

Shares of NYSE:TFC opened at $40.46 on Friday. The company has a 50 day moving average of $44.78 and a two-hundred day moving average of $44.40. Truist Financial Co. has a 52-week low of $35.09 and a 52-week high of $49.06. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $52.81 billion, a price-to-earnings ratio of 12.15, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. The company had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.81 EPS. As a group, analysts forecast that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a dividend of $0.52 per share. The ex-dividend date was Friday, February 14th. This represents a $2.08 annualized dividend and a dividend yield of 5.14%. Truist Financial’s payout ratio is 62.46%.

Analyst Ratings Changes

A number of research firms have commented on TFC. Hsbc Global Res upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. HSBC raised Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a report on Tuesday, January 7th. Raymond James increased their price objective on Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Wells Fargo & Company cut their price target on shares of Truist Financial from $52.00 to $50.00 and set an “overweight” rating for the company in a report on Friday. Finally, Barclays upped their price target on Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Nine analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Truist Financial has an average rating of “Moderate Buy” and a consensus target price of $50.68.

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.