Occidental Asset Management LLC Reduces Holdings in Truist Financial Co. (NYSE:TFC)

Occidental Asset Management LLC lowered its stake in Truist Financial Co. (NYSE:TFC) by 19.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 5,660 shares of the insurance provider’s stock after selling 1,331 shares during the quarter. Occidental Asset Management LLC’s holdings in Truist Financial were worth $209,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in TFC. Fairfield Bush & CO. purchased a new stake in Truist Financial in the first quarter worth $25,000. OFI Invest Asset Management purchased a new stake in shares of Truist Financial in the 3rd quarter worth about $26,000. Operose Advisors LLC purchased a new stake in shares of Truist Financial in the 3rd quarter worth about $31,000. Quarry LP bought a new stake in shares of Truist Financial during the 1st quarter valued at about $32,000. Finally, Tyler Stone Wealth Management bought a new position in Truist Financial in the third quarter worth about $33,000. Institutional investors own 71.28% of the company’s stock.

Truist Financial Trading Up 1.0 %

TFC stock traded up $0.39 during mid-day trading on Friday, reaching $38.98. The company had a trading volume of 8,405,594 shares, compared to its average volume of 9,941,998. Truist Financial Co. has a 12 month low of $25.56 and a 12 month high of $39.29. The firm has a 50 day moving average of $36.47 and a 200 day moving average of $33.46. The company has a market capitalization of $52.02 billion, a PE ratio of -36.09, a price-to-earnings-growth ratio of 1.62 and a beta of 1.07. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.82 and a quick ratio of 0.82.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Thursday, January 18th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.13. The company had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.70 billion. Truist Financial had a negative net margin of 3.28% and a positive return on equity of 9.64%. During the same period last year, the company posted $1.30 earnings per share. On average, equities analysts predict that Truist Financial Co. will post 3.39 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

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

Insider Activity at Truist Financial

In related news, Director K. David Jr. Boyer sold 3,764 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $37.48, for a total transaction of $141,074.72. Following the transaction, 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 can be accessed through this link. 0.17% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TFC. StockNews.com downgraded shares of Truist Financial from a “hold” rating to a “sell” rating in a report on Thursday. Royal Bank of Canada increased their price target on shares of Truist Financial from $40.00 to $42.00 and gave the stock an “outperform” rating in a research report on Friday, January 19th. Odeon Capital Group upgraded shares of Truist Financial from a “hold” rating to a “buy” rating and set a $40.45 target price on the stock in a research note on Thursday, December 14th. Barclays raised their price target on Truist Financial from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Tuesday, January 2nd. Finally, HSBC upped their price objective on Truist Financial from $37.00 to $39.00 and gave the stock a “hold” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target 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.