Patton Albertson Miller Group LLC Has $1.02 Million Position in Truist Financial Co. (NYSE:TFC)

Patton Albertson Miller Group LLC cut its holdings in Truist Financial Co. (NYSE:TFC) by 7.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 27,668 shares of the insurance provider’s stock after selling 2,354 shares during the quarter. Patton Albertson Miller Group LLC’s holdings in Truist Financial were worth $1,022,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Truist Financial by 0.3% in the third quarter. Vanguard Group Inc. now owns 117,271,628 shares of the insurance provider’s stock worth $3,355,141,000 after purchasing an additional 365,871 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Truist Financial by 8.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 19,238,388 shares of the insurance provider’s stock worth $690,793,000 after purchasing an additional 1,458,248 shares in the last quarter. Royal Bank of Canada boosted its holdings in shares of Truist Financial by 5.0% in the 3rd quarter. Royal Bank of Canada now owns 15,384,890 shares of the insurance provider’s stock valued at $440,162,000 after buying an additional 732,801 shares during the last quarter. Morgan Stanley increased its holdings in Truist Financial by 0.3% during the third quarter. Morgan Stanley now owns 15,364,138 shares of the insurance provider’s stock worth $439,568,000 after buying an additional 39,510 shares during the last quarter. Finally, Truist Financial Corp raised its position in Truist Financial by 0.5% during the third quarter. Truist Financial Corp now owns 5,197,904 shares of the insurance provider’s stock worth $148,712,000 after acquiring an additional 26,972 shares in the last quarter. 71.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on TFC. Stephens reaffirmed an “overweight” rating and set a $43.00 price objective on shares of Truist Financial in a research report on Tuesday, April 23rd. StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Thursday, May 2nd. Evercore ISI restated an “in-line” rating and set a $44.00 price objective on shares of Truist Financial in a report on Thursday. UBS Group lifted their price target on Truist Financial from $45.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Finally, TheStreet lowered Truist Financial from a “b-” rating to a “c” rating in a report on Tuesday, February 20th. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $42.70.

Truist Financial Trading Up 0.6 %

Shares of TFC stock traded up $0.23 on Thursday, hitting $39.10. The company had a trading volume of 6,524,385 shares, compared to its average volume of 9,391,715. The stock’s 50-day moving average is $37.43 and its two-hundred day moving average is $35.42. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market cap of $52.18 billion, a P/E ratio of -29.62, a P/E/G ratio of 2.03 and a beta of 1.07. Truist Financial Co. has a twelve month low of $26.49 and a twelve month high of $40.35.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.12. The company had revenue of $4.87 billion during the quarter, compared to analysts’ expectations of $5.70 billion. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. Truist Financial’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.09 earnings per share. On average, equities research analysts anticipate that Truist Financial Co. will post 3.3 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 10th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.32%. The ex-dividend date of this dividend is Thursday, May 9th. Truist Financial’s payout ratio is -157.58%.

Insider Transactions at Truist Financial

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of Truist Financial stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $37.48, for a total value of $141,074.72. Following the completion of the sale, the director now directly owns 16,132 shares of the company’s stock, valued at $604,627.36. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.17% of the company’s stock.

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.