Wilkins Investment Counsel Inc. Sells 645 Shares of Truist Financial Co. (NYSE:TFC)

Wilkins Investment Counsel Inc. lessened its position in Truist Financial Co. (NYSE:TFC) by 6.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,975 shares of the insurance provider’s stock after selling 645 shares during the quarter. Wilkins Investment Counsel Inc.’s holdings in Truist Financial were worth $433,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Bangor Savings Bank increased its holdings in shares of Truist Financial by 92.5% during the 4th 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 period. Hopwood Financial Services Inc. bought a new position in shares of Truist Financial during the 4th quarter worth about $26,000. Curio Wealth LLC bought a new position in shares of Truist Financial during the 4th quarter worth about $45,000. City State Bank increased its holdings in shares of Truist Financial by 158.1% during the 4th 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. Finally, True Wealth Design LLC bought a new position in shares of Truist Financial during the 3rd quarter worth about $51,000. Institutional investors own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

TFC has been the topic of several research reports. Baird R W upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Citigroup boosted their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a report on Monday, November 25th. Morgan Stanley upped their target price on shares of Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. Hsbc Global Res raised shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Finally, Compass Point upped their target price on shares of Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Nine equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $51.16.

Truist Financial Price Performance

Shares of TFC stock opened at $41.29 on Thursday. Truist Financial Co. has a 1 year low of $35.09 and a 1 year high of $49.06. The firm’s 50 day moving average is $45.20 and its 200-day moving average is $44.50. The firm has a market capitalization of $53.90 billion, a price-to-earnings ratio of 12.40, a PEG ratio of 1.63 and a beta of 1.08. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61.

Truist Financial (NYSE:TFC) last announced its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping 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 company 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 earned $0.81 earnings per share. Truist Financial’s quarterly revenue was up 3.4% on a year-over-year basis. Sell-side analysts forecast that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.04%. Truist Financial’s payout ratio is 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.