Moisand Fitzgerald Tamayo LLC Sells 1,110 Shares of Truist Financial Co. (NYSE:TFC)

Moisand Fitzgerald Tamayo LLC lowered its holdings in Truist Financial Co. (NYSE:TFC) by 6.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 15,805 shares of the insurance provider’s stock after selling 1,110 shares during the period. Moisand Fitzgerald Tamayo LLC’s holdings in Truist Financial were worth $686,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bangor Savings Bank increased its stake in Truist Financial by 92.5% in the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock valued at $25,000 after acquiring an additional 272 shares during the period. Valley Wealth Managers Inc. bought a new stake in Truist Financial during the third quarter worth about $26,000. MidAtlantic Capital Management Inc. bought a new stake in Truist Financial during the third quarter worth about $32,000. Fortitude Family Office LLC grew its stake in Truist Financial by 376.7% during the third quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock worth $37,000 after buying an additional 678 shares during the last quarter. Finally, Ashton Thomas Securities LLC bought a new stake in Truist Financial during the third quarter worth about $45,000. Institutional investors own 71.28% of the company’s stock.

Truist Financial Trading Down 2.1 %

Shares of NYSE TFC opened at $45.67 on Monday. The company’s 50 day simple moving average is $45.61 and its 200 day simple moving average is $44.52. Truist Financial Co. has a fifty-two week low of $34.26 and a fifty-two week high of $49.06. The firm has a market capitalization of $60.62 billion, a P/E ratio of 13.71, a P/E/G ratio of 1.63 and a beta of 1.08. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83.

Truist Financial (NYSE:TFC) last posted its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.03. The company had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period last year, the business posted $0.81 earnings per share. On average, analysts predict that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be issued a $0.52 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.08 annualized dividend and a yield of 4.55%. Truist Financial’s dividend payout ratio (DPR) is presently 62.46%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on TFC shares. Citigroup upped their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a research note on Monday, November 25th. Morgan Stanley upped their price objective on shares of Truist Financial from $55.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 21st. Piper Sandler upped their price objective on shares of Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Barclays upped their price objective 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, StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. Eleven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $50.79.

Insiders Place Their Bets

In other Truist Financial news, Director K. David Jr. Boyer sold 4,966 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total value of $229,429.20. Following the sale, the director now directly owns 11,246 shares in the company, valued at approximately $519,565.20. This trade represents a 30.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.17% of the company’s stock.

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.