Greenwood Capital Associates LLC Sells 796 Shares of Truist Financial Co. (NYSE:TFC)

Greenwood Capital Associates LLC lowered its position in shares of Truist Financial Co. (NYSE:TFC) by 3.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,742 shares of the insurance provider’s stock after selling 796 shares during the quarter. Greenwood Capital Associates LLC’s holdings in Truist Financial were worth $977,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Hopwood Financial Services Inc. bought a new stake in shares of Truist Financial in the 4th quarter valued at $26,000. Navigoe LLC acquired a new position in Truist Financial in the fourth quarter valued at about $26,000. Curio Wealth LLC acquired a new position in Truist Financial in the fourth quarter valued at about $45,000. TCTC Holdings LLC increased its holdings in shares of Truist Financial by 28.1% in the fourth quarter. TCTC Holdings LLC now owns 1,310 shares of the insurance provider’s stock worth $57,000 after acquiring an additional 287 shares in the last quarter. Finally, Pinney & Scofield Inc. acquired a new stake in shares of Truist Financial during the fourth quarter worth about $57,000. Institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Down 0.8%

Truist Financial stock opened at $39.92 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 company’s 50-day moving average is $38.68 and its 200-day moving average is $42.48. The firm has a market capitalization of $52.28 billion, a PE ratio of 11.99, a P/E/G ratio of 1.63 and a beta of 0.84. Truist Financial Co. has a fifty-two week low of $33.56 and a fifty-two week high of $49.06.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.87. The firm had revenue of $4.95 billion for the quarter, compared to the consensus estimate of $4.99 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. During the same quarter in the previous year, the business earned $0.90 earnings per share. Sell-side analysts anticipate that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 9th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 5.21%. The ex-dividend date was Friday, May 9th. Truist Financial’s dividend payout ratio (DPR) is presently 61.36%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on TFC shares. Wall Street Zen upgraded Truist Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, May 7th. Keefe, Bruyette & Woods reduced their price target on shares of Truist Financial from $53.00 to $47.00 and set an “outperform” rating for the company in a report on Monday, April 21st. TD Cowen began coverage on shares of Truist Financial in a report on Thursday, May 15th. They set a “hold” rating and a $44.00 price objective on the stock. Robert W. Baird raised shares of Truist Financial from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $48.00 to $52.00 in a research report on Wednesday, March 5th. Finally, Piper Sandler lowered their target price on Truist Financial from $45.00 to $41.00 and set a “neutral” rating for the company in a report on Monday, April 21st. Nine investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $47.83.

Truist Financial Company 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.