Bryn Mawr Capital Management LLC Sells 857 Shares of Truist Financial Co. (NYSE:TFC)

Bryn Mawr Capital Management LLC lowered its position in shares of Truist Financial Co. (NYSE:TFC) by 0.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 229,445 shares of the insurance provider’s stock after selling 857 shares during the period. Bryn Mawr Capital Management LLC’s holdings in Truist Financial were worth $9,953,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in TFC. Bangor Savings Bank lifted its stake in shares of Truist Financial by 92.5% during the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 272 shares during the last quarter. Valley Wealth Managers Inc. acquired a new position in shares of Truist Financial during the third quarter valued at about $26,000. MidAtlantic Capital Management Inc. purchased a new stake in Truist Financial during the 3rd quarter worth approximately $32,000. Fortitude Family Office LLC increased its stake in Truist Financial by 376.7% during the 3rd quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock valued at $37,000 after purchasing an additional 678 shares in the last quarter. Finally, Ashton Thomas Securities LLC purchased a new position in shares of Truist Financial in the third quarter worth $45,000. 71.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TFC. Compass Point boosted their price objective on shares of Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Morgan Stanley boosted their target price on shares of Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. Stephens raised their target price on Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Finally, HSBC upgraded Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research report on Tuesday, January 7th. Eleven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $50.79.

Insider Activity

In other news, Director K. David Jr. Boyer sold 4,966 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total transaction of $229,429.20. Following the completion of the transaction, the director now directly owns 11,246 shares of the company’s stock, valued at approximately $519,565.20. This represents a 30.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.17% of the company’s stock.

Truist Financial Stock Down 0.2 %

Shares of NYSE:TFC opened at $45.25 on Wednesday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The firm has a 50 day simple moving average of $45.61 and a 200-day simple moving average of $44.57. The company has a market capitalization of $60.06 billion, a PE ratio of 13.59, a P/E/G ratio of 1.63 and a beta of 1.08. Truist Financial Co. has a twelve month low of $34.26 and a twelve month high of $49.06.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.03. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The company had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.05 billion. During the same quarter in the prior year, the firm posted $0.81 earnings per share. Truist Financial’s revenue for the quarter was up 3.4% on a year-over-year basis. On average, equities analysts predict that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.60%. The ex-dividend date of this dividend is Friday, February 14th. Truist Financial’s payout ratio is currently 62.46%.

Truist Financial Company 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.