Wesbanco Bank Inc. Has $3.99 Million Stake in Truist Financial Co. (NYSE:TFC)

Wesbanco Bank Inc. trimmed its stake in shares of Truist Financial Co. (NYSE:TFC) by 6.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 91,865 shares of the insurance provider’s stock after selling 5,999 shares during the period. Wesbanco Bank Inc.’s holdings in Truist Financial were worth $3,985,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Janney Montgomery Scott LLC lifted its position in shares of Truist Financial by 0.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 969,022 shares of the insurance provider’s stock worth $42,036,000 after purchasing an additional 3,378 shares in the last quarter. SG Americas Securities LLC lifted its holdings in Truist Financial by 1,028.0% in the fourth quarter. SG Americas Securities LLC now owns 456,816 shares of the insurance provider’s stock valued at $19,817,000 after buying an additional 416,317 shares during the period. Daymark Wealth Partners LLC lifted its holdings in Truist Financial by 4.4% in the fourth quarter. Daymark Wealth Partners LLC now owns 7,231 shares of the insurance provider’s stock valued at $314,000 after buying an additional 305 shares during the period. Global Trust Asset Management LLC lifted its holdings in Truist Financial by 1,360.4% in the fourth quarter. Global Trust Asset Management LLC now owns 3,651 shares of the insurance provider’s stock valued at $158,000 after buying an additional 3,401 shares during the period. Finally, Dakota Wealth Management lifted its holdings in Truist Financial by 0.9% in the fourth quarter. Dakota Wealth Management now owns 151,371 shares of the insurance provider’s stock valued at $6,566,000 after buying an additional 1,378 shares during the period. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Truist Financial

In other Truist Financial news, Director K. David Jr. Boyer sold 4,966 shares of Truist Financial stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total value of $229,429.20. Following the completion of the sale, the director now owns 11,246 shares in the company, valued at $519,565.20. The trade was a 30.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William H. Rogers, Jr. acquired 34,180 shares of the company’s stock in a transaction on Monday, November 25th. The stock was acquired at an average price of $48.56 per share, with a total value of $1,659,780.80. Following the purchase, the chief executive officer now directly owns 691,451 shares in the company, valued at approximately $33,576,860.56. This represents a 5.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.17% of the stock is currently owned by corporate insiders.

Truist Financial Stock Performance

Shares of TFC opened at $47.01 on Thursday. The firm has a 50-day moving average of $45.45 and a 200-day moving average of $43.73. Truist Financial Co. has a one year low of $34.23 and a one year high of $49.06. The company has a market cap of $62.41 billion, a PE ratio of 14.12, a price-to-earnings-growth ratio of 1.70 and a beta of 1.08. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83.

Truist Financial (NYSE:TFC) last posted its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. The company had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5,047,370 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. Truist Financial’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.81 EPS. As a group, equities analysts forecast that Truist Financial Co. will post 3.95 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on TFC. Compass Point increased their price objective on shares of Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. JPMorgan Chase & Co. increased their price objective on shares of Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Stephens increased their price objective on shares of Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday. UBS Group increased their target price on shares of Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Finally, Piper Sandler increased their target price on shares of Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Eleven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.79.

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.