FSB Premier Wealth Management Inc. Sells 892 Shares of Truist Financial Co. (NYSE:TFC)

FSB Premier Wealth Management Inc. lessened its holdings in shares of Truist Financial Co. (NYSE:TFC) by 8.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,148 shares of the insurance provider’s stock after selling 892 shares during the quarter. FSB Premier Wealth Management Inc.’s holdings in Truist Financial were worth $397,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of TFC. State Street Corp grew its position in shares of Truist Financial by 4.6% in the 3rd quarter. State Street Corp now owns 61,864,957 shares of the insurance provider’s stock valued at $2,645,964,000 after purchasing an additional 2,720,223 shares during the period. Geode Capital Management LLC increased its position in shares of Truist Financial by 1.7% during the third quarter. Geode Capital Management LLC now owns 27,440,951 shares of the insurance provider’s stock worth $1,169,350,000 after acquiring an additional 456,412 shares in the last quarter. Amundi raised its holdings in shares of Truist Financial by 6.5% during the fourth quarter. Amundi now owns 23,683,345 shares of the insurance provider’s stock worth $1,040,718,000 after acquiring an additional 1,450,323 shares during the period. American Century Companies Inc. boosted its stake in Truist Financial by 7.9% in the 4th quarter. American Century Companies Inc. now owns 9,882,885 shares of the insurance provider’s stock worth $428,720,000 after purchasing an additional 722,749 shares during the period. Finally, Norges Bank bought a new position in Truist Financial during the 4th quarter worth about $402,828,000. 71.28% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on TFC shares. Compass Point upped their price objective on Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Stephens raised their price target on shares of Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Barclays boosted their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Wells Fargo & Company decreased their target price on shares of Truist Financial from $52.00 to $50.00 and set an “overweight” rating for the company in a research report on Friday. Finally, Robert W. Baird raised shares of Truist Financial from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $48.00 to $52.00 in a research report on Wednesday, March 5th. Nine research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.68.

Truist Financial Trading Down 2.3 %

TFC opened at $40.46 on Monday. 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 Co. has a fifty-two week low of $35.09 and a fifty-two week high of $49.06. The company’s 50 day moving average price is $44.78 and its two-hundred day moving average price is $44.44. The firm has a market capitalization of $52.81 billion, a price-to-earnings ratio of 12.15, a PEG ratio of 1.63 and a beta of 1.08.

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 the consensus estimate of $0.88 by $0.03. The business had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. Truist Financial’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period last year, the company earned $0.81 EPS. As a group, research analysts predict that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 5.14%. The ex-dividend date of this dividend was Friday, February 14th. Truist Financial’s dividend payout ratio is presently 62.46%.

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.