Whittier Trust Co. of Nevada Inc. Sells 323 Shares of Truist Financial Co. (NYSE:TFC)

Whittier Trust Co. of Nevada Inc. trimmed its position in shares of Truist Financial Co. (NYSE:TFC) by 3.5% in the fourth quarter, Holdings Channel reports. The fund owned 8,948 shares of the insurance provider’s stock after selling 323 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Truist Financial were worth $388,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. HUB Investment Partners LLC bought a new stake in Truist Financial during the fourth quarter valued at about $321,000. Magnetar Financial LLC boosted its holdings in Truist Financial by 4.0% during the fourth quarter. Magnetar Financial LLC now owns 129,601 shares of the insurance provider’s stock valued at $5,622,000 after acquiring an additional 4,986 shares during the period. Teacher Retirement System of Texas lifted its stake in shares of Truist Financial by 781.7% in the fourth quarter. Teacher Retirement System of Texas now owns 78,989 shares of the insurance provider’s stock valued at $3,427,000 after buying an additional 70,030 shares during the period. Royal London Asset Management Ltd. lifted its stake in shares of Truist Financial by 2.8% in the fourth quarter. Royal London Asset Management Ltd. now owns 1,129,580 shares of the insurance provider’s stock valued at $49,001,000 after buying an additional 30,591 shares during the period. Finally, Algebris UK Ltd bought a new stake in shares of Truist Financial in the fourth quarter valued at about $13,389,000. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Stock Performance

Shares of Truist Financial stock opened at $41.41 on Friday. 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 firm has a market cap of $54.05 billion, a P/E ratio of 12.43, a P/E/G ratio of 1.63 and a beta of 1.08. The firm has a 50 day simple moving average of $45.12 and a 200 day simple moving average of $44.45. Truist Financial Co. has a fifty-two week low of $35.09 and a fifty-two week high of $49.06.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. The business had revenue of $5.11 billion during 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%. Truist Financial’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.81 earnings per share. Sell-side analysts predict that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 5.02%. The ex-dividend date was Friday, February 14th. Truist Financial’s dividend payout ratio is presently 62.46%.

Analyst Ratings Changes

TFC has been the subject of several research reports. Hsbc Global Res upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. Baird R W upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Barclays raised their price target 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, Compass Point raised their price target on shares of Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. 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.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $51.16.

About Truist Financial

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.