Truist Financial Co. (NYSE:TFC) Shares Sold by Berkeley Capital Partners LLC

Berkeley Capital Partners LLC reduced its stake in shares of Truist Financial Co. (NYSE:TFC) by 1.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 36,185 shares of the insurance provider’s stock after selling 469 shares during the quarter. Berkeley Capital Partners LLC’s holdings in Truist Financial were worth $1,570,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in TFC. Natixis Advisors LLC lifted its position in Truist Financial by 7.3% during the third quarter. Natixis Advisors LLC now owns 451,576 shares of the insurance provider’s stock valued at $19,314,000 after purchasing an additional 30,626 shares during the period. Thrivent Financial for Lutherans lifted its position in Truist Financial by 17.6% during the third quarter. Thrivent Financial for Lutherans now owns 82,255 shares of the insurance provider’s stock valued at $3,518,000 after purchasing an additional 12,300 shares during the period. Quest Partners LLC lifted its position in Truist Financial by 81.1% during the third quarter. Quest Partners LLC now owns 4,754 shares of the insurance provider’s stock valued at $203,000 after purchasing an additional 2,129 shares during the period. Pathstone Holdings LLC lifted its position in Truist Financial by 0.5% during the third quarter. Pathstone Holdings LLC now owns 166,827 shares of the insurance provider’s stock valued at $7,135,000 after purchasing an additional 890 shares during the period. Finally, Prospera Private Wealth LLC lifted its position in Truist Financial by 4.0% during the third quarter. Prospera Private Wealth LLC now owns 16,739 shares of the insurance provider’s stock valued at $716,000 after purchasing an additional 642 shares during the period. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Stock Performance

Truist Financial stock opened at $41.29 on Thursday. The firm has a 50 day simple moving average of $45.20 and a 200-day simple moving average of $44.50. Truist Financial Co. has a 1-year low of $35.09 and a 1-year high of $49.06. 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 $53.90 billion, a price-to-earnings ratio of 12.40, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share 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 business had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.05 billion. During the same quarter in the prior year, the company posted $0.81 EPS. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. On average, analysts expect that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a $0.52 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.08 annualized dividend and a dividend yield of 5.04%. Truist Financial’s dividend payout ratio is currently 62.46%.

Analyst Ratings Changes

A number of research analysts recently issued reports on TFC shares. Baird R W upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Raymond James upped their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Robert W. Baird upgraded shares of Truist Financial from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $48.00 to $52.00 in a research report on Wednesday, March 5th. StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. Finally, 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 report on Monday, November 25th. Nine investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $51.16.

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.