Bank OZK Sells 4,801 Shares of Truist Financial Co. (NYSE:TFC)

Bank OZK reduced its position in shares of Truist Financial Co. (NYSE:TFC) by 16.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 24,892 shares of the insurance provider’s stock after selling 4,801 shares during the period. Bank OZK’s holdings in Truist Financial were worth $1,080,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Bangor Savings Bank raised its stake in shares of 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 acquiring an additional 272 shares during the last quarter. Valley Wealth Managers Inc. bought a new position in shares of Truist Financial in the third quarter worth about $26,000. MidAtlantic Capital Management Inc. bought a new position in shares of Truist Financial in the third quarter worth about $32,000. Ashton Thomas Securities LLC bought a new position in shares of Truist Financial in the third quarter worth about $45,000. Finally, True Wealth Design LLC bought a new position in shares of Truist Financial in the third quarter worth about $51,000. 71.28% of the stock is owned by institutional investors.

Truist Financial Stock Up 1.4 %

Shares of NYSE TFC opened at $46.37 on Friday. The stock has a market cap of $61.55 billion, a P/E ratio of 13.92, a P/E/G ratio of 1.63 and a beta of 1.08. The firm has a 50 day moving average price of $45.78 and a 200 day moving average price of $44.62. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. Truist Financial Co. has a 52-week low of $34.51 and a 52-week high of $49.06.

Truist Financial (NYSE:TFC) last announced its quarterly 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. 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 quarter in the previous year, the firm posted $0.81 earnings per share. The business’s revenue was up 3.4% on a year-over-year basis. Analysts expect that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.49%. The ex-dividend date of this dividend is Friday, February 14th. Truist Financial’s payout ratio is currently 62.46%.

Insider Buying and Selling at Truist Financial

In related news, Director K. David Jr. Boyer sold 4,966 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total transaction of $229,429.20. Following the completion of the transaction, the director now owns 11,246 shares in the company, valued at approximately $519,565.20. This represents a 30.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on TFC shares. Wells Fargo & Company boosted their target price on shares of Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Morgan Stanley boosted their target price on shares of Truist Financial from $55.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 21st. The Goldman Sachs Group boosted their target price on shares of Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Raymond James lifted their price target on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Finally, 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. Eleven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $50.79.

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.