King Luther Capital Management Corp Sells 16,816 Shares of Truist Financial Co. (NYSE:TFC)

King Luther Capital Management Corp trimmed its position in Truist Financial Co. (NYSE:TFC) by 25.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 49,177 shares of the insurance provider’s stock after selling 16,816 shares during the quarter. King Luther Capital Management Corp’s holdings in Truist Financial were worth $2,133,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. Bangor Savings Bank raised its stake in Truist Financial by 92.5% in the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock valued at $25,000 after buying an additional 272 shares during the period. Valley Wealth Managers Inc. acquired a new position in shares of Truist Financial during the 3rd quarter worth approximately $26,000. MidAtlantic Capital Management Inc. bought a new stake in Truist Financial in the 3rd quarter valued at $32,000. Ashton Thomas Securities LLC acquired a new stake in Truist Financial during the 3rd quarter valued at $45,000. Finally, City State Bank boosted its position in Truist Financial by 158.1% during the fourth quarter. City State Bank now owns 1,169 shares of the insurance provider’s stock worth $51,000 after purchasing an additional 716 shares during the period. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TFC has been the topic of several research analyst reports. Morgan Stanley increased their price objective on shares of Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. Keefe, Bruyette & Woods increased their price target on shares of Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Tuesday, January 21st. Compass Point upped their target price on Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Citigroup increased their target price on Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a research note on Monday, November 25th. Finally, Hsbc Global Res upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Nine equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $51.16.

Truist Financial Stock Down 0.3 %

Shares of TFC opened at $39.80 on Thursday. The firm has a 50 day simple moving average of $45.53 and a two-hundred day simple moving average of $44.62. The company has a market cap of $51.95 billion, a P/E ratio of 11.95, a P/E/G ratio of 1.63 and a beta of 1.08. Truist Financial Co. has a one year low of $34.51 and a one 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.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.03. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The business had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.05 billion. During the same period in the prior year, the company earned $0.81 EPS. Truist Financial’s revenue for the quarter was up 3.4% on a year-over-year basis. Research analysts forecast that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 5.23%. The ex-dividend date was Friday, February 14th. Truist Financial’s dividend payout ratio (DPR) is presently 62.46%.

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.