Haverford Trust Co Sells 5,140 Shares of Truist Financial Co. (NYSE:TFC)

Haverford Trust Co lessened its position in shares of Truist Financial Co. (NYSE:TFC) by 40.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,489 shares of the insurance provider’s stock after selling 5,140 shares during the period. Haverford Trust Co’s holdings in Truist Financial were worth $325,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. PBMares Wealth Management LLC boosted its position in Truist Financial by 0.8% during the fourth quarter. PBMares Wealth Management LLC now owns 29,270 shares of the insurance provider’s stock worth $1,270,000 after purchasing an additional 224 shares during the period. Koshinski Asset Management Inc. boosted its holdings in Truist Financial by 2.1% in the 4th quarter. Koshinski Asset Management Inc. now owns 10,825 shares of the insurance provider’s stock worth $470,000 after buying an additional 225 shares during the period. Aaron Wealth Advisors LLC grew its stake in Truist Financial by 3.0% in the 4th quarter. Aaron Wealth Advisors LLC now owns 7,712 shares of the insurance provider’s stock valued at $335,000 after buying an additional 227 shares in the last quarter. FWG Holdings LLC raised its holdings in Truist Financial by 4.3% during the 4th quarter. FWG Holdings LLC now owns 5,694 shares of the insurance provider’s stock valued at $267,000 after acquiring an additional 234 shares during the period. Finally, Ignite Planners LLC lifted its position in shares of Truist Financial by 1.4% during the fourth quarter. Ignite Planners LLC now owns 17,499 shares of the insurance provider’s stock worth $772,000 after acquiring an additional 246 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Truist Financial Price Performance

Shares of Truist Financial stock opened at $41.96 on Wednesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. Truist Financial Co. has a 52-week low of $35.09 and a 52-week high of $49.06. The company has a fifty day moving average of $45.06 and a 200-day moving average of $44.45. The stock has a market capitalization of $54.77 billion, a price-to-earnings ratio of 12.60, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The firm had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5.05 billion. During the same period last year, the firm earned $0.81 earnings per share. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. Equities research analysts expect that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a $0.52 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.08 annualized dividend and a yield of 4.96%. Truist Financial’s payout ratio is currently 62.46%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Baird R W upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Morgan Stanley upped their price target on 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 shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. Barclays increased their target price on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. Finally, Raymond James boosted their price target on shares of Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Nine equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Truist Financial presently has an average rating of “Moderate Buy” and a consensus target price of $50.79.

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.