First National Trust Co Sells 26,632 Shares of Truist Financial Corporation $TFC

First National Trust Co lowered its stake in Truist Financial Corporation (NYSE:TFC) by 32.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 54,943 shares of the insurance provider’s stock after selling 26,632 shares during the period. First National Trust Co’s holdings in Truist Financial were worth $2,704,000 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. Valley Wealth Managers Inc. purchased a new position in Truist Financial during the third quarter valued at $28,000. Maseco LLP lifted its position in Truist Financial by 53.8% during the fourth quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock valued at $32,000 after buying an additional 228 shares during the period. Mowery & Schoenfeld Wealth Management LLC lifted its position in Truist Financial by 190.7% during the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 657 shares of the insurance provider’s stock valued at $32,000 after buying an additional 431 shares during the period. Ancora Advisors LLC lifted its position in Truist Financial by 259.1% during the third quarter. Ancora Advisors LLC now owns 693 shares of the insurance provider’s stock valued at $32,000 after buying an additional 500 shares during the period. Finally, Bare Financial Services Inc lifted its position in Truist Financial by 56.9% during the fourth quarter. Bare Financial Services Inc now owns 822 shares of the insurance provider’s stock valued at $40,000 after buying an additional 298 shares during the period. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Price Performance

TFC opened at $48.45 on Monday. Truist Financial Corporation has a 1 year low of $38.27 and a 1 year high of $56.19. The stock has a 50-day moving average price of $47.87 and a 200-day moving average price of $48.75. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market cap of $60.37 billion, a PE ratio of 12.02, a P/E/G ratio of 0.83 and a beta of 0.92.

Truist Financial (NYSE:TFC) last issued its earnings results on Friday, April 17th. The insurance provider reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.09. Truist Financial had a return on equity of 9.55% and a net margin of 18.14%.The business had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.18 billion. During the same quarter in the previous year, the firm earned $0.87 EPS. Truist Financial’s revenue was up 5.0% on a year-over-year basis. Sell-side analysts predict that Truist Financial Corporation will post 4.52 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 8th will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, May 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.3%. Truist Financial’s payout ratio is 51.61%.

Analyst Ratings Changes

Several equities analysts have commented on the company. Royal Bank Of Canada raised their price objective on Truist Financial from $51.00 to $53.00 and gave the company an “outperform” rating in a research report on Monday, April 20th. Weiss Ratings raised Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. Jefferies Financial Group reaffirmed a “mixed” rating and issued a $45.00 price target on shares of Truist Financial in a research report on Friday, April 17th. JPMorgan Chase & Co. lowered their price target on Truist Financial from $57.00 to $51.50 and set a “neutral” rating for the company in a research report on Tuesday, April 7th. Finally, Robert W. Baird lowered Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 price target for the company. in a research report on Friday, May 1st. Nine investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $55.59.

Truist Financial Company Profile

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.