Bryn Mawr Capital Management LLC Sells 857 Shares of Truist Financial Co. (NYSE:TFC)

Bryn Mawr Capital Management LLC trimmed its position in Truist Financial Co. (NYSE:TFC) by 0.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 229,445 shares of the insurance provider’s stock after selling 857 shares during the period. Bryn Mawr Capital Management LLC’s holdings in Truist Financial were worth $9,953,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Bank of New York Mellon Corp grew its stake in Truist Financial by 8.5% in the 4th quarter. Bank of New York Mellon Corp now owns 8,484,992 shares of the insurance provider’s stock worth $368,079,000 after buying an additional 662,179 shares in the last quarter. BHK Investment Advisors LLC increased its stake in Truist Financial by 1.5% in the fourth quarter. BHK Investment Advisors LLC now owns 29,367 shares of the insurance provider’s stock valued at $1,274,000 after acquiring an additional 425 shares during the last quarter. Pine Valley Investments Ltd Liability Co raised its position in Truist Financial by 6.9% during the fourth quarter. Pine Valley Investments Ltd Liability Co now owns 17,727 shares of the insurance provider’s stock valued at $769,000 after purchasing an additional 1,137 shares in the last quarter. BankPlus Trust Department purchased a new position in shares of Truist Financial in the 4th quarter worth about $1,191,000. Finally, IFP Advisors Inc boosted its stake in Truist Financial by 17.3% in the fourth quarter. IFP Advisors Inc now owns 8,220 shares of the insurance provider’s stock worth $357,000 after buying an additional 1,211 shares in the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Compass Point boosted their price objective on shares of Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Citigroup lifted their price objective on Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a report on Monday, November 25th. StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, January 17th. The Goldman Sachs Group boosted their price objective on Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Finally, Raymond James boosted their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Eleven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.79.

Insider Buying and Selling

In other news, Director K. David Jr. Boyer sold 4,966 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was 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 $519,565.20. This trade represents a 30.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.17% of the stock is owned by company insiders.

Truist Financial Trading Down 0.2 %

Shares of TFC stock opened at $45.25 on Wednesday. Truist Financial Co. has a 1 year low of $34.26 and a 1 year high of $49.06. The firm has a fifty day moving average price of $45.61 and a 200-day moving average price of $44.57. The company has a market cap of $60.06 billion, a price-to-earnings ratio of 13.59, a PEG ratio of 1.63 and a beta of 1.08. 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 released 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. 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 during the quarter, compared to analyst estimates of $5.05 billion. During the same period in the prior year, the firm posted $0.81 EPS. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. As a group, equities analysts predict that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.60%. The ex-dividend date is 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.