Sterling Investment Advisors Ltd. Cuts Holdings in Truist Financial Co. (NYSE:TFC)

Sterling Investment Advisors Ltd. trimmed its holdings in shares of Truist Financial Co. (NYSE:TFC) by 5.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 104,964 shares of the insurance provider’s stock after selling 6,116 shares during the quarter. Truist Financial makes up approximately 1.1% of Sterling Investment Advisors Ltd.’s investment portfolio, making the stock its 25th biggest holding. Sterling Investment Advisors Ltd.’s holdings in Truist Financial were worth $4,553,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of TFC. Bangor Savings Bank grew its holdings 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 purchasing an additional 272 shares during the last quarter. Valley Wealth Managers Inc. purchased a new position in Truist Financial in the third quarter worth $26,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Truist Financial during the third quarter valued at $32,000. Fortitude Family Office LLC grew its holdings in shares of Truist Financial by 376.7% during the third quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock valued at $37,000 after buying an additional 678 shares during the last quarter. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of Truist Financial during the third quarter valued at $45,000. 71.28% of the stock is owned by hedge funds and other institutional investors.

Truist Financial Stock Performance

Truist Financial stock opened at $45.31 on Tuesday. The firm has a 50 day simple moving average of $45.61 and a 200-day simple moving average of $44.54. Truist Financial Co. has a 1-year low of $34.26 and a 1-year high of $49.06. 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 stock has a market cap of $60.15 billion, a price-to-earnings ratio of 13.61, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.88 by $0.03. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The firm had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.05 billion. During the same period in the prior year, the business posted $0.81 EPS. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, analysts expect that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a yield of 4.59%. Truist Financial’s dividend payout ratio (DPR) is presently 62.46%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Stephens boosted their target price on shares of Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Barclays boosted their target price on shares of Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. Compass Point boosted their target price on shares of Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. 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. Finally, StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. Eleven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $50.79.

Insiders Place Their Bets

In other news, Director K. David Jr. Boyer sold 4,966 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total value of $229,429.20. Following the sale, the director now directly owns 11,246 shares in the company, valued at approximately $519,565.20. This trade represents a 30.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.17% of the stock is owned by company insiders.

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.