Alpha Omega Wealth Management LLC Lowers Stock Holdings in Truist Financial Co. (NYSE:TFC)

Alpha Omega Wealth Management LLC lowered its position in shares of Truist Financial Co. (NYSE:TFC) by 22.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 174,911 shares of the insurance provider’s stock after selling 51,393 shares during the period. Truist Financial makes up approximately 1.1% of Alpha Omega Wealth Management LLC’s portfolio, making the stock its 19th largest position. Alpha Omega Wealth Management LLC’s holdings in Truist Financial were worth $6,458,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fairfield Bush & CO. bought a new stake in shares of Truist Financial during the 1st quarter valued at $25,000. OFI Invest Asset Management purchased a new position in shares of Truist Financial during the 3rd quarter valued at $26,000. Operose Advisors LLC purchased a new position in shares of Truist Financial during the 3rd quarter valued at $31,000. Quarry LP purchased a new position in shares of Truist Financial during the 1st quarter valued at $32,000. Finally, Tyler Stone Wealth Management purchased a new stake in Truist Financial in the 3rd quarter worth $33,000. Institutional investors own 71.28% of the company’s stock.

Insider Buying and Selling

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of Truist Financial stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $37.48, for a total value of $141,074.72. Following the completion of the transaction, the director now owns 16,132 shares of the company’s stock, valued at $604,627.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.17% of the stock is currently owned by corporate insiders.

Truist Financial Stock Performance

Shares of NYSE TFC traded down $1.06 during midday trading on Wednesday, reaching $35.64. The company had a trading volume of 12,902,686 shares, compared to its average volume of 8,127,603. The business’s 50-day simple moving average is $36.62 and its 200 day simple moving average is $34.36. The stock has a market cap of $47.56 billion, a P/E ratio of -33.00, a P/E/G ratio of 2.26 and a beta of 1.08. Truist Financial Co. has a 1 year low of $25.56 and a 1 year high of $39.29. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.74.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Thursday, January 18th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.13. Truist Financial had a negative net margin of 3.28% and a positive return on equity of 9.64%. The business had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.70 billion. During the same quarter last year, the company posted $1.30 earnings per share. On average, analysts forecast that Truist Financial Co. will post 3.33 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $2.08 annualized dividend and a dividend yield of 5.84%. Truist Financial’s dividend payout ratio (DPR) is presently -192.59%.

Wall Street Analyst Weigh In

Several analysts have commented on TFC shares. Barclays boosted their price target on shares of Truist Financial from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 2nd. Jefferies Financial Group boosted their target price on shares of Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a report on Monday, April 8th. UBS Group boosted their target price on shares of Truist Financial from $45.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Morgan Stanley boosted their target price on shares of Truist Financial from $38.00 to $43.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 30th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Truist Financial from $44.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, April 5th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Truist Financial currently has a consensus rating of “Hold” and a consensus price target of $41.47.

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.