Truist Financial Co. (NYSE:TFC) Shares Sold by Bank of Montreal Can

Bank of Montreal Can cut its position in Truist Financial Co. (NYSE:TFC) by 10.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,184,446 shares of the insurance provider’s stock after selling 377,160 shares during the quarter. Bank of Montreal Can’s holdings in Truist Financial were worth $138,141,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bangor Savings Bank grew its holdings in shares of Truist Financial by 92.5% in the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 272 shares in the last quarter. Hopwood Financial Services Inc. purchased a new position in Truist Financial in the 4th quarter valued at approximately $26,000. Curio Wealth LLC acquired a new position in shares of Truist Financial in the fourth quarter worth $45,000. City State Bank increased its position in shares of Truist Financial by 158.1% during the fourth quarter. City State Bank now owns 1,169 shares of the insurance provider’s stock worth $51,000 after acquiring an additional 716 shares during the period. Finally, Brown Lisle Cummings Inc. purchased a new position in Truist Financial in the fourth quarter valued at $55,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Price Performance

Shares of TFC opened at $35.11 on Tuesday. Truist Financial Co. has a 12 month low of $33.56 and a 12 month high of $49.06. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a fifty day moving average price of $43.72 and a 200 day moving average price of $44.28. The company has a market cap of $45.83 billion, a P/E ratio of 10.54, a PEG ratio of 1.63 and a beta of 0.91.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 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 net margin of 15.59% and a return on equity of 9.32%. The company’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.81 earnings per share. On average, research analysts forecast that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued 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 5.92%. Truist Financial’s dividend payout ratio (DPR) is presently 62.46%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. StockNews.com downgraded Truist Financial from a “hold” rating to a “sell” rating in a research report on Thursday, April 3rd. Wells Fargo & Company dropped their price objective on shares of Truist Financial from $52.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, March 28th. Citigroup reduced their price objective on shares of Truist Financial from $51.00 to $44.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. Compass Point increased their target price on Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Finally, Barclays lifted their price target on Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $49.74.

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.