Truist Financial Co. (NYSE:TFC) Shares Sold by Thurston Springer Miller Herd & Titak Inc.

Thurston Springer Miller Herd & Titak Inc. trimmed its position in Truist Financial Co. (NYSE:TFC) by 38.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,828 shares of the insurance provider’s stock after selling 1,135 shares during the period. Thurston Springer Miller Herd & Titak Inc.’s holdings in Truist Financial were worth $75,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TFC. LaFleur & Godfrey LLC lifted its holdings in Truist Financial by 4.5% in the 4th quarter. LaFleur & Godfrey LLC now owns 108,168 shares of the insurance provider’s stock valued at $4,692,000 after acquiring an additional 4,670 shares during the last quarter. Brighton Jones LLC lifted its stake in Truist Financial by 148.5% during the fourth quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider’s stock valued at $1,023,000 after purchasing an additional 14,093 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Truist Financial by 31.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 135,803 shares of the insurance provider’s stock worth $5,922,000 after buying an additional 32,854 shares during the last quarter. Bleakley Financial Group LLC increased its holdings in shares of Truist Financial by 2.7% in the fourth quarter. Bleakley Financial Group LLC now owns 37,734 shares of the insurance provider’s stock valued at $1,637,000 after buying an additional 988 shares in the last quarter. Finally, Silver Oak Securities Incorporated lifted its position in shares of Truist Financial by 10.1% during the 4th quarter. Silver Oak Securities Incorporated now owns 14,504 shares of the insurance provider’s stock valued at $629,000 after acquiring an additional 1,334 shares during the last quarter. 71.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TFC. Wall Street Zen raised Truist Financial from a “sell” rating to a “hold” rating in a report on Wednesday, May 7th. Raymond James lowered Truist Financial from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 2nd. Baird R W upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Keefe, Bruyette & Woods cut their target price on shares of Truist Financial from $53.00 to $47.00 and set an “outperform” rating for the company in a research report on Monday, April 21st. Finally, Wells Fargo & Company lowered their price target on shares of Truist Financial from $52.00 to $50.00 and set an “overweight” rating on the stock in a report on Friday, March 28th. Nine investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $47.83.

Truist Financial Stock Performance

Shares of TFC stock opened at $40.66 on Friday. Truist Financial Co. has a 12 month low of $33.56 and a 12 month high of $49.06. The company’s fifty day simple moving average is $38.43 and its 200-day simple moving average is $42.65. The firm has a market cap of $53.25 billion, a PE ratio of 12.21, a P/E/G ratio of 1.63 and a beta of 0.84. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Thursday, April 17th. The insurance provider reported $0.87 EPS for the quarter, hitting analysts’ consensus estimates of $0.87. The company had revenue of $4.95 billion during the quarter, compared to the consensus estimate of $4.99 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. During the same period in the prior year, the business posted $0.90 EPS. Equities research analysts expect that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 9th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $2.08 dividend on an annualized basis and a yield of 5.12%. Truist Financial’s dividend payout ratio is 61.36%.

Truist Financial 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.