Truist Financial Co. (NYSE:TFC) Shares Sold by SeaCrest Wealth Management LLC

SeaCrest Wealth Management LLC lessened its stake in shares of Truist Financial Co. (NYSE:TFC) by 1.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 48,711 shares of the insurance provider’s stock after selling 718 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Truist Financial were worth $1,832,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Fairfield Bush & CO. acquired a new position in Truist Financial during the 1st quarter worth $25,000. Quarry LP acquired a new position in shares of Truist Financial during the first quarter valued at $32,000. OFI Invest Asset Management acquired a new position in shares of Truist Financial during the third quarter valued at $26,000. Union Savings Bank bought a new stake in Truist Financial during the second quarter worth approximately $36,000. Finally, Operose Advisors LLC bought a new position in shares of Truist Financial during the 3rd quarter valued at about $31,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Price Performance

Shares of TFC stock traded up $0.38 during trading hours on Thursday, reaching $38.97. The stock had a trading volume of 8,403,567 shares, compared to its average volume of 9,890,929. The stock’s fifty day simple moving average is $36.41 and its 200 day simple moving average is $33.42. 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 firm has a market capitalization of $52.01 billion, a PE ratio of -36.08, a PEG ratio of 1.58 and a beta of 1.07. Truist Financial Co. has a 12 month low of $25.56 and a 12 month high of $39.29.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Thursday, January 18th. The insurance provider reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.13. Truist Financial had a negative net margin of 3.28% and a positive return on equity of 9.64%. The firm had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.70 billion. During the same period in the previous year, the business earned $1.30 EPS. On average, equities research analysts predict that Truist Financial Co. will post 3.39 EPS for the current year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were given a $0.52 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $2.08 dividend on an annualized basis and a yield of 5.34%. Truist Financial’s payout ratio is -192.59%.

Insider Buying and Selling at Truist Financial

In other news, Director K. David Jr. Boyer sold 3,764 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $37.48, for a total value of $141,074.72. Following the completion of the sale, the director now directly owns 16,132 shares in the company, valued at approximately $604,627.36. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on TFC shares. Barclays increased their target price on shares of Truist Financial from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 2nd. Bank of America upgraded Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 price target on the stock in a report on Thursday, January 4th. Stephens raised shares of Truist Financial from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $41.00 to $43.00 in a research report on Tuesday, March 19th. Morgan Stanley raised their target price on shares of Truist Financial from $38.00 to $43.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 30th. Finally, HSBC lifted their price objective on shares of Truist Financial from $37.00 to $39.00 and gave the stock a “hold” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $40.30.

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.