Physicians Financial Services Inc. Sells 1,242 Shares of Truist Financial Corporation (NYSE:TFC)

Physicians Financial Services Inc. decreased its stake in shares of Truist Financial Corporation (NYSE:TFC) by 3.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,543 shares of the insurance provider’s stock after selling 1,242 shares during the period. Physicians Financial Services Inc.’s holdings in Truist Financial were worth $1,463,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in TFC. Capital International Investors increased its position in shares of Truist Financial by 26.0% during the fourth quarter. Capital International Investors now owns 90,617,519 shares of the insurance provider’s stock worth $3,930,983,000 after acquiring an additional 18,712,246 shares in the last quarter. Norges Bank acquired a new stake in shares of Truist Financial in the fourth quarter valued at approximately $402,828,000. Victory Capital Management Inc. raised its holdings in shares of Truist Financial by 922.9% in the first quarter. Victory Capital Management Inc. now owns 6,664,320 shares of the insurance provider’s stock valued at $274,237,000 after purchasing an additional 6,012,817 shares during the last quarter. FMR LLC raised its holdings in shares of Truist Financial by 109.1% in the fourth quarter. FMR LLC now owns 10,460,159 shares of the insurance provider’s stock valued at $453,762,000 after purchasing an additional 5,457,053 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Truist Financial by 20.5% in the fourth quarter. Northern Trust Corp now owns 14,434,173 shares of the insurance provider’s stock valued at $626,154,000 after purchasing an additional 2,452,239 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on TFC shares. Morgan Stanley reiterated a “mixed” rating on shares of Truist Financial in a report on Monday, July 21st. Stephens lowered their price objective on shares of Truist Financial from $48.00 to $46.00 and set an “overweight” rating on the stock in a report on Monday, April 21st. Wall Street Zen upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a report on Wednesday, May 7th. TD Cowen assumed coverage on shares of Truist Financial in a report on Thursday, May 15th. They set a “hold” rating and a $44.00 target price on the stock. Finally, Citigroup upgraded shares of Truist Financial from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $44.00 to $55.00 in a report on Thursday, June 26th. Seven analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $48.65.

Truist Financial Price Performance

Truist Financial stock opened at $45.64 on Monday. The firm has a market cap of $59.76 billion, a PE ratio of 12.44, a price-to-earnings-growth ratio of 1.70 and a beta of 0.85. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.86 and a quick ratio of 0.86. The stock’s fifty day moving average price is $42.08 and its two-hundred day moving average price is $42.09. Truist Financial Corporation has a one year low of $33.56 and a one year high of $49.06.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Friday, July 18th. The insurance provider reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.02). The firm had revenue of $5.04 billion for the quarter, compared to the consensus estimate of $5.04 billion. Truist Financial had a return on equity of 8.69% and a net margin of 16.82%. The company’s revenue for the quarter was down 406.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.91 EPS. As a group, research analysts expect that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 9th were paid a $0.52 dividend. The ex-dividend date was Friday, May 9th. This represents a $2.08 annualized dividend and a dividend yield of 4.56%. Truist Financial’s payout ratio is 56.68%.

Insider Activity at Truist Financial

In other Truist Financial news, insider Bradley D. Bender sold 12,540 shares of Truist Financial stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $45.19, for a total value of $566,682.60. Following the transaction, the insider owned 500 shares in the company, valued at $22,595. The trade was a 96.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.14% of the company’s stock.

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.