Truist Financial Co. (NYSE:TFC) Shares Sold by Smith & Howard Wealth Management LLC

Smith & Howard Wealth Management LLC lowered its stake in Truist Financial Co. (NYSE:TFC - Free Report) by 61.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,575 shares of the insurance provider's stock after selling 8,911 shares during the period. Smith & Howard Wealth Management LLC's holdings in Truist Financial were worth $242,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in Truist Financial during the fourth quarter worth $198,051,000. State Street Corp lifted its position in shares of Truist Financial by 4.6% in the third quarter. State Street Corp now owns 61,864,957 shares of the insurance provider's stock valued at $2,645,964,000 after acquiring an additional 2,720,223 shares in the last quarter. Amundi lifted its position in shares of Truist Financial by 6.5% in the fourth quarter. Amundi now owns 23,683,345 shares of the insurance provider's stock valued at $1,040,718,000 after acquiring an additional 1,450,323 shares in the last quarter. KBC Group NV lifted its position in Truist Financial by 96.9% during the fourth quarter. KBC Group NV now owns 2,031,893 shares of the insurance provider's stock worth $88,144,000 after buying an additional 999,763 shares during the period. Finally, HighTower Advisors LLC lifted its position in Truist Financial by 26.1% during the third quarter. HighTower Advisors LLC now owns 3,901,891 shares of the insurance provider's stock worth $166,892,000 after buying an additional 807,648 shares during the period. Institutional investors and hedge funds own 71.28% of the company's stock.

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Wall Street Analyst Weigh In

Several research firms recently weighed in on TFC. Hsbc Global Res upgraded Truist Financial from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 7th. StockNews.com upgraded Truist Financial from a "sell" rating to a "hold" rating in a research note on Friday, January 17th. Robert W. Baird upgraded Truist Financial from a "neutral" rating to an "outperform" rating and upped their price target for the stock from $48.00 to $52.00 in a research note on Wednesday, March 5th. Baird R W upgraded Truist Financial from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 5th. Finally, Keefe, Bruyette & Woods increased their target price on Truist Financial from $55.00 to $57.00 and gave the company an "outperform" rating in a research note on Tuesday, January 21st. Nine investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Truist Financial presently has a consensus rating of "Moderate Buy" and a consensus price target of $51.16.

Truist Financial Stock Performance

NYSE:TFC traded down $0.42 during trading hours on Tuesday, reaching $39.96. 9,840,140 shares of the stock were exchanged, compared to its average volume of 7,365,528. The stock has a market capitalization of $52.16 billion, a P/E ratio of 12.00, a P/E/G ratio of 1.63 and a beta of 1.08. Truist Financial Co. has a 52 week low of $34.51 and a 52 week high of $49.06. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. The firm has a 50 day simple moving average of $45.60 and a 200-day simple moving average of $44.65.

Truist Financial (NYSE:TFC - Get Free Report) last announced its quarterly 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 for the quarter, compared to the consensus estimate of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The business's revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the business posted $0.81 EPS. As a group, sell-side analysts forecast that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

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 $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 5.21%. The ex-dividend date was Friday, February 14th. Truist Financial's dividend payout ratio (DPR) is 62.46%.

About Truist Financial

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.