Truist Financial Co. (NYSE:TFC) Shares Sold by Wesbanco Bank Inc.

Wesbanco Bank Inc. decreased its holdings in Truist Financial Co. (NYSE:TFC) by 6.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 91,865 shares of the insurance provider’s stock after selling 5,999 shares during the quarter. Wesbanco Bank Inc.’s holdings in Truist Financial were worth $3,985,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in TFC. Bangor Savings Bank grew its position in Truist Financial by 92.5% in the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock worth $25,000 after buying an additional 272 shares during the last quarter. Valley Wealth Managers Inc. purchased a new position in Truist Financial during the 3rd quarter worth approximately $26,000. MidAtlantic Capital Management Inc. purchased a new position in Truist Financial during the 3rd quarter worth approximately $32,000. Fortitude Family Office LLC grew its position in Truist Financial by 376.7% during the 3rd quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 678 shares in the last quarter. Finally, Ashton Thomas Securities LLC purchased a new position in Truist Financial during the 3rd quarter worth approximately $45,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Performance

NYSE TFC opened at $47.01 on Thursday. The stock has a market cap of $62.41 billion, a P/E ratio of 14.12, a PEG ratio of 1.70 and a beta of 1.08. The company’s 50-day simple moving average is $45.45 and its 200 day simple moving average is $43.73. Truist Financial Co. has a twelve month low of $34.23 and a twelve month high of $49.06. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61.

Truist Financial (NYSE:TFC) last posted its 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 for the quarter, compared to analysts’ expectations of $5,047,370 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.81 earnings per share. As a group, research analysts forecast that Truist Financial Co. will post 3.95 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Hsbc Global Res upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Citigroup lifted their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. Keefe, Bruyette & Woods lifted their price objective on shares of Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” rating in a research report on Tuesday. Royal Bank of Canada boosted their price target on shares of Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Eleven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $50.79.

Insider Activity at Truist Financial

In other Truist Financial news, Director K. David Jr. Boyer sold 4,966 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total transaction of $229,429.20. Following the sale, the director now directly owns 11,246 shares of the company’s stock, valued at approximately $519,565.20. This represents a 30.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William H. Rogers, Jr. acquired 34,180 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were purchased at an average cost of $48.56 per share, for a total transaction of $1,659,780.80. Following the completion of the purchase, the chief executive officer now directly owns 691,451 shares of the company’s stock, valued at approximately $33,576,860.56. The trade was a 5.20 % increase in their position. The disclosure for this purchase can be found here. 0.17% of the stock is currently owned by insiders.

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.