CENTRAL TRUST Co Has $310,000 Stock Holdings in Truist Financial Co. (NYSE:TFC)

CENTRAL TRUST Co cut its holdings in Truist Financial Co. (NYSE:TFC) by 32.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 8,397 shares of the insurance provider’s stock after selling 4,085 shares during the quarter. CENTRAL TRUST Co’s holdings in Truist Financial were worth $310,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. EPG Wealth Management LLC boosted its position in Truist Financial by 1.8% during the 4th quarter. EPG Wealth Management LLC now owns 12,219 shares of the insurance provider’s stock worth $526,000 after acquiring an additional 213 shares during the last quarter. Williams Jones Wealth Management LLC. boosted its position in Truist Financial by 5.8% during the 1st quarter. Williams Jones Wealth Management LLC. now owns 4,850 shares of the insurance provider’s stock worth $275,000 after acquiring an additional 268 shares during the last quarter. Financial Advocates Investment Management boosted its position in Truist Financial by 3.5% during the 4th quarter. Financial Advocates Investment Management now owns 9,071 shares of the insurance provider’s stock worth $390,000 after acquiring an additional 306 shares during the last quarter. Day & Ennis LLC boosted its position in Truist Financial by 4.3% during the 4th quarter. Day & Ennis LLC now owns 7,525 shares of the insurance provider’s stock worth $278,000 after acquiring an additional 311 shares during the last quarter. Finally, Farmers & Merchants Trust Co of Chambersburg PA boosted its position in Truist Financial by 32.0% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,333 shares of the insurance provider’s stock worth $49,000 after acquiring an additional 323 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TFC. Odeon Capital Group raised Truist Financial from a “hold” rating to a “buy” rating and set a $40.45 price target for the company in a research report on Thursday, December 14th. Piper Sandler upped their price objective on Truist Financial from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, January 19th. Barclays upped their price objective on Truist Financial from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 2nd. HSBC upped their price objective on Truist Financial from $37.00 to $39.00 and gave the stock a “hold” rating in a research note on Thursday, March 28th. Finally, Stephens upgraded Truist Financial from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $41.00 to $43.00 in a research note on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $41.44.

Insider Transactions at Truist Financial

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

Truist Financial Stock Performance

Shares of NYSE TFC opened at $38.86 on Tuesday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.82 and a quick ratio of 0.82. The stock’s fifty day moving average price is $36.59 and its two-hundred day moving average price is $33.98. Truist Financial Co. has a one year low of $25.56 and a one year high of $39.29. The firm has a market cap of $51.86 billion, a price-to-earnings ratio of -35.98, a P/E/G ratio of 1.62 and a beta of 1.08.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Thursday, January 18th. The insurance provider reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.13. Truist Financial had a positive return on equity of 9.64% and a negative net margin of 3.28%. The firm had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.70 billion. During the same period in the prior year, the firm posted $1.30 EPS. On average, equities analysts forecast that Truist Financial Co. will post 3.35 EPS for the current year.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 5.35%. The ex-dividend date of this dividend was Thursday, February 8th. Truist Financial’s dividend payout ratio is -192.59%.

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.