Cable Hill Partners LLC Decreases Stake in Truist Financial Co. (NYSE:TFC)

Cable Hill Partners LLC reduced its position in Truist Financial Co. (NYSE:TFC) by 13.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 5,431 shares of the insurance provider’s stock after selling 829 shares during the period. Cable Hill Partners LLC’s holdings in Truist Financial were worth $236,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of Truist Financial by 48.7% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,963 shares of the insurance provider’s stock worth $129,000 after buying an additional 971 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Truist Financial by 3.5% in the third quarter. Principal Financial Group Inc. now owns 1,511,299 shares of the insurance provider’s stock worth $64,638,000 after buying an additional 50,637 shares in the last quarter. Cadence Bank lifted its position in shares of Truist Financial by 101.6% in the third quarter. Cadence Bank now owns 185,184 shares of the insurance provider’s stock worth $7,920,000 after buying an additional 93,322 shares in the last quarter. Country Club Bank lifted its position in shares of Truist Financial by 719.8% in the fourth quarter. Country Club Bank now owns 45,499 shares of the insurance provider’s stock worth $1,973,000 after buying an additional 39,949 shares in the last quarter. Finally, David Wealth Management LLC purchased a new stake in Truist Financial during the fourth quarter valued at approximately $2,354,000. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Truist Financial

In other news, Director K. David Jr. Boyer sold 4,966 shares of the stock in a transaction on 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 sale, the director now owns 11,246 shares in the company, valued at approximately $519,565.20. This represents a 30.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.17% of the company’s stock.

Truist Financial Stock Up 0.9 %

Shares of NYSE:TFC opened at $45.75 on Friday. Truist Financial Co. has a 52-week low of $34.51 and a 52-week high of $49.06. The stock has a market cap of $60.73 billion, a P/E ratio of 13.74, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. The business’s 50 day moving average is $45.72 and its 200 day moving average is $44.58. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61.

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, beating the consensus estimate of $0.88 by $0.03. The business had revenue of $5.11 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 3.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.81 EPS. Sell-side analysts predict that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, February 14th. This represents a $2.08 annualized dividend and a yield of 4.55%. Truist Financial’s dividend payout ratio (DPR) is presently 62.46%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TFC. Keefe, Bruyette & Woods upped their price objective on Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a research report on Tuesday, January 21st. The Goldman Sachs Group upped 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. HSBC upgraded 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. Citigroup upped their price objective on Truist Financial from $47.00 to $51.00 and gave the company a “neutral” rating in a research report on Monday, November 25th. Finally, StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. Eleven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Truist Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.79.

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.