Peloton Wealth Strategists Decreases Stake in Truist Financial Co. (NYSE:TFC)

Peloton Wealth Strategists cut its holdings in Truist Financial Co. (NYSE:TFCGet Rating) by 4.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,450 shares of the insurance provider’s stock after selling 2,900 shares during the quarter. Peloton Wealth Strategists’ holdings in Truist Financial were worth $3,539,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of TFC. Hanson & Doremus Investment Management boosted its stake in shares of Truist Financial by 456.4% in the fourth quarter. Hanson & Doremus Investment Management now owns 434 shares of the insurance provider’s stock valued at $25,000 after buying an additional 356 shares in the last quarter. Elmwood Wealth Management Inc. purchased a new stake in shares of Truist Financial in the fourth quarter valued at approximately $25,000. Reilly Financial Advisors LLC purchased a new stake in shares of Truist Financial in the fourth quarter valued at approximately $28,000. Amplius Wealth Advisors LLC purchased a new stake in shares of Truist Financial in the fourth quarter valued at approximately $31,000. Finally, Country Trust Bank raised its holdings in Truist Financial by 472.4% during the fourth quarter. Country Trust Bank now owns 561 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 463 shares during the last quarter. Hedge funds and other institutional investors own 72.79% of the company’s stock.

In other news, Director Steven C. Voorhees purchased 20,000 shares of the stock in a transaction on Wednesday, May 4th. The stock was purchased at an average price of $49.82 per share, with a total value of $996,400.00. Following the completion of the transaction, the director now owns 60,873 shares in the company, valued at $3,032,692.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven C. Voorhees purchased 10,000 shares of the stock in a transaction on Friday, March 4th. The shares were purchased at an average cost of $59.21 per share, with a total value of $592,100.00. The disclosure for this purchase can be found here. 0.31% of the stock is currently owned by insiders.

Shares of NYSE:TFC traded down $0.16 during midday trading on Friday, reaching $46.31. The company’s stock had a trading volume of 8,455,879 shares, compared to its average volume of 9,316,953. The firm has a market cap of $61.66 billion, a price-to-earnings ratio of 10.34, a price-to-earnings-growth ratio of 1.74 and a beta of 1.18. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 0.58. Truist Financial Co. has a 1 year low of $45.51 and a 1 year high of $68.95. The business has a 50 day moving average price of $53.96 and a 200 day moving average price of $59.20.

Truist Financial (NYSE:TFCGet Rating) last announced its quarterly earnings data on Tuesday, April 19th. The insurance provider reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.11. The business had revenue of $5.33 billion during the quarter, compared to the consensus estimate of $5.48 billion. Truist Financial had a return on equity of 12.70% and a net margin of 27.89%. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.18 earnings per share. Sell-side analysts anticipate that Truist Financial Co. will post 4.92 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 1st. Shareholders of record on Friday, May 13th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date of this dividend is Thursday, May 12th. Truist Financial’s dividend payout ratio (DPR) is presently 42.86%.

Several equities analysts recently issued reports on TFC shares. Citigroup cut Truist Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $75.00 to $58.00 in a report on Monday, April 11th. Piper Sandler reduced their price objective on Truist Financial from $69.00 to $62.00 in a report on Wednesday, April 20th. UBS Group raised Truist Financial from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $63.00 to $77.00 in a report on Wednesday, January 19th. Bank of America cut Truist Financial from a “buy” rating to a “neutral” rating and set a $58.00 price objective for the company. in a report on Friday, April 8th. Finally, StockNews.com assumed coverage on Truist Financial in a report on Thursday, March 31st. They issued a “hold” rating for the company. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $65.38.

Truist Financial Company Profile (Get Rating)

Truist Financial Corporation, a holding 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.

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Institutional Ownership by Quarter for Truist Financial (NYSE:TFC)

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