First Hawaiian Bank Sells 21,736 Shares of Truist Financial Co. (NYSE:TFC)

First Hawaiian Bank lessened its stake in Truist Financial Co. (NYSE:TFC - Free Report) by 66.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,043 shares of the insurance provider's stock after selling 21,736 shares during the quarter. First Hawaiian Bank's holdings in Truist Financial were worth $479,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Fulton Bank N.A. grew its stake in Truist Financial by 3.0% in the fourth quarter. Fulton Bank N.A. now owns 61,183 shares of the insurance provider's stock valued at $2,654,000 after acquiring an additional 1,771 shares during the period. International Assets Investment Management LLC acquired a new position in shares of Truist Financial in the 4th quarter valued at approximately $1,184,000. Bangor Savings Bank raised its holdings in 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 buying an additional 272 shares during the period. Neville Rodie & Shaw Inc. lifted its stake in Truist Financial by 17.9% in the fourth quarter. Neville Rodie & Shaw Inc. now owns 37,468 shares of the insurance provider's stock valued at $1,626,000 after buying an additional 5,695 shares in the last quarter. Finally, CWA Asset Management Group LLC increased its position in shares of Truist Financial by 9.5% during the fourth quarter. CWA Asset Management Group LLC now owns 49,000 shares of the insurance provider's stock worth $2,126,000 after acquiring an additional 4,267 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company's stock.

Analysts Set New Price Targets

TFC has been the subject of a number of research analyst reports. 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. Royal Bank of Canada lifted their target price on Truist Financial from $45.00 to $46.00 and gave the company an "outperform" rating in a research report on Friday, October 18th. StockNews.com cut shares of Truist Financial from a "hold" rating to a "sell" rating in a research note on Thursday. HSBC raised shares of Truist Financial from a "hold" rating to a "buy" rating and set a $50.00 price objective on the stock in a research report on Tuesday, January 7th. Finally, Citigroup lifted their price target on shares of Truist Financial from $47.00 to $51.00 and gave the company a "neutral" rating in a research note on Monday, November 25th. One analyst has rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $49.89.

Truist Financial Stock Performance

TFC traded down $1.12 on Friday, reaching $42.83. The company had a trading volume of 8,002,231 shares, compared to its average volume of 6,209,354. The stock has a market cap of $56.86 billion, a P/E ratio of -29.95, a P/E/G ratio of 1.88 and a beta of 1.08. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85. Truist Financial Co. has a fifty-two week low of $34.23 and a fifty-two week high of $49.06. The company's fifty day moving average is $45.36 and its 200 day moving average is $43.38.

Truist Financial (NYSE:TFC - Get Free Report) last announced its earnings results on Thursday, October 17th. The insurance provider reported $0.97 earnings per share for the quarter, topping analysts' consensus estimates of $0.89 by $0.08. The company had revenue of $5.09 billion for the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. As a group, analysts predict that Truist Financial Co. will post 3.7 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 8th were given a $0.52 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.86%. Truist Financial's payout ratio is presently -145.45%.

Insider Activity at Truist Financial

In related news, CEO William H. Rogers, Jr. purchased 34,180 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The shares were bought at an average price of $48.56 per share, for a total transaction of $1,659,780.80. Following the completion of the transaction, the chief executive officer now owns 691,451 shares of the company's stock, valued at approximately $33,576,860.56. This trade represents a 5.20 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director K. David Jr. Boyer sold 4,966 shares of the company'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 sale, the director now directly owns 11,246 shares of the company's stock, valued at $519,565.20. This represents a 30.63 % decrease in their position. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by corporate insiders.

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.