Parkside Financial Bank & Trust Has $407,000 Position in Truist Financial Co. (NYSE:TFC)

Parkside Financial Bank & Trust reduced its holdings in shares of Truist Financial Co. (NYSE:TFC) by 5.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 9,383 shares of the insurance provider’s stock after selling 546 shares during the period. Parkside Financial Bank & Trust’s holdings in Truist Financial were worth $407,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Bangor Savings Bank boosted its position 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 valued at $25,000 after acquiring an additional 272 shares in the last quarter. Valley Wealth Managers Inc. acquired a new stake in shares of Truist Financial during the 3rd quarter valued at about $26,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Truist Financial during the 3rd quarter valued at about $32,000. Ashton Thomas Securities LLC acquired a new stake in shares of Truist Financial during the 3rd quarter valued at about $45,000. Finally, True Wealth Design LLC acquired a new stake in shares of Truist Financial during the 3rd quarter valued at about $51,000. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on TFC shares. Compass Point lifted their price target 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. Barclays lifted their price target on shares of Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Morgan Stanley lifted their price target on shares of Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. Citigroup lifted their price target on shares of Truist Financial from $47.00 to $51.00 and gave the company a “neutral” rating in a report on Monday, November 25th. Finally, Raymond James lifted their price target on shares of Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Eleven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Truist Financial presently has an average rating of “Moderate Buy” and an average target price of $50.79.

Truist Financial Stock Up 1.4 %

Shares of NYSE:TFC opened at $46.37 on Friday. Truist Financial Co. has a one year low of $34.51 and a one year high of $49.06. The company has a 50 day moving average of $45.78 and a 200-day moving average of $44.62. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a market cap of $61.55 billion, a price-to-earnings ratio of 13.92, a P/E/G ratio of 1.63 and a beta of 1.08.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, topping 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 analysts’ expectations of $5.05 billion. During the same quarter in the previous year, the company earned $0.81 EPS. Truist Financial’s revenue was up 3.4% on a year-over-year basis. On average, sell-side analysts forecast that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.49%. The ex-dividend date is Friday, February 14th. Truist Financial’s dividend payout ratio is 62.46%.

Insider Transactions at Truist Financial

In related news, Director K. David Jr. Boyer sold 4,966 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were 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 owns 11,246 shares in the company, valued at approximately $519,565.20. The trade was a 30.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.17% of the stock is owned by corporate insiders.

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.