Moody National Bank Trust Division Cuts Stock Holdings in Truist Financial Co. (NYSE:TFC)

Moody National Bank Trust Division lowered its holdings in Truist Financial Co. (NYSE:TFC – Get Rating) by 1.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,323 shares of the insurance provider’s stock after selling 363 shares during the period. Moody National Bank Trust Division’s holdings in Truist Financial were worth $1,607,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Fairfield Bush & CO. acquired a new stake in shares of Truist Financial in the first quarter worth $25,000. Newbridge Financial Services Group Inc. increased its position in shares of Truist Financial by 555.8% in the third quarter. Newbridge Financial Services Group Inc. now owns 623 shares of the insurance provider’s stock worth $27,000 after acquiring an additional 528 shares in the last quarter. Webster Bank N. A. increased its position in shares of Truist Financial by 88.5% in the third quarter. Webster Bank N. A. now owns 639 shares of the insurance provider’s stock worth $28,000 after acquiring an additional 300 shares in the last quarter. Western Pacific Wealth Management LP acquired a new stake in shares of Truist Financial in the third quarter worth $35,000. Finally, NuWave Investment Management LLC acquired a new stake in shares of Truist Financial in the third quarter worth $40,000. Institutional investors and hedge funds own 72.49% of the company’s stock.

Insider Activity at Truist Financial

In other news, Director David M. Ratcliffe acquired 13,125 shares of the business’s stock in a transaction that occurred on Friday, March 10th. The shares were purchased at an average cost of $38.08 per share, for a total transaction of $499,800.00. Following the transaction, the director now directly owns 39,025 shares in the company, valued at approximately $1,486,072. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director David M. Ratcliffe purchased 13,125 shares of the company’s stock in a transaction on Friday, March 10th. The shares were bought at an average cost of $38.08 per share, for a total transaction of $499,800.00. Following the transaction, the director now owns 39,025 shares of the company’s stock, valued at $1,486,072. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Hugh S. Cummins III sold 35,229 shares of the business’s stock in a transaction dated Friday, January 27th. The stock was sold at an average price of $49.05, for a total transaction of $1,727,982.45. Following the sale, the insider now owns 307,069 shares in the company, valued at $15,061,734.45. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on TFC shares. Keefe, Bruyette & Woods raised shares of Truist Financial from an “underperform” rating to a “market perform” rating and dropped their price objective for the stock from $47.00 to $45.00 in a research report on Sunday, March 12th. Deutsche Bank Aktiengesellschaft lowered shares of Truist Financial from a “buy” rating to a “hold” rating and lowered their price target for the company from $61.00 to $48.00 in a report on Friday, January 6th. TheStreet raised shares of Truist Financial from a “c+” rating to a “b-” rating in a report on Monday, January 23rd. Wells Fargo & Company decreased their price objective on shares of Truist Financial to $57.00 in a report on Wednesday, December 14th. Finally, Morgan Stanley decreased their price objective on shares of Truist Financial from $59.00 to $56.00 and set an “equal weight” rating for the company in a report on Friday, January 20th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Truist Financial has an average rating of “Hold” and a consensus price target of $51.58.

Truist Financial Stock Performance

Shares of Truist Financial stock traded down $2.38 during trading hours on Friday, reaching $30.56. The company’s stock had a trading volume of 46,869,423 shares, compared to its average volume of 10,809,917. The stock has a market cap of $40.59 billion, a P/E ratio of 6.90, a price-to-earnings-growth ratio of 1.33 and a beta of 1.10. The company’s 50 day simple moving average is $45.85 and its 200 day simple moving average is $44.99. Truist Financial Co. has a one year low of $28.70 and a one year high of $61.10. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.80 and a current ratio of 0.81.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 1st. Investors of record on Friday, February 10th were given a $0.52 dividend. The ex-dividend date of this dividend was Thursday, February 9th. This represents a $2.08 annualized dividend and a yield of 6.81%. Truist Financial’s dividend payout ratio is presently 46.95%.

Truist Financial Company Profile

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Truist Financial Corp. is a financial holding company, which engages in the provision of banking services to individuals, businesses, and municipalities. It operates through the following segments: Consumer Banking and Wealth, Corporate and Commercial Banking, Insurance Holdings, and Other, Treasury & Corporate.