Wesbanco Bank Inc. Sells 16,694 Shares of Truist Financial Co. (NYSE:TFC)

Wesbanco Bank Inc. reduced its holdings in shares of Truist Financial Co. (NYSE:TFC - Free Report) by 18.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 75,171 shares of the insurance provider's stock after selling 16,694 shares during the period. Wesbanco Bank Inc.'s holdings in Truist Financial were worth $3,093,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of TFC. FWG Holdings LLC boosted its position in Truist Financial by 4.3% in the fourth quarter. FWG Holdings LLC now owns 5,694 shares of the insurance provider's stock worth $267,000 after purchasing an additional 234 shares during the last quarter. Avestar Capital LLC boosted its holdings in shares of Truist Financial by 4.1% in the fourth quarter. Avestar Capital LLC now owns 6,299 shares of the insurance provider's stock worth $273,000 after buying an additional 250 shares during the last quarter. Pathway Financial Advisors LLC boosted its holdings in shares of Truist Financial by 2.2% in the fourth quarter. Pathway Financial Advisors LLC now owns 12,124 shares of the insurance provider's stock worth $526,000 after buying an additional 260 shares during the last quarter. Nwam LLC grew its position in Truist Financial by 3.2% during the fourth quarter. Nwam LLC now owns 8,395 shares of the insurance provider's stock valued at $364,000 after buying an additional 263 shares during the period. Finally, Wealth Quarterback LLC increased its holdings in Truist Financial by 1.8% during the fourth quarter. Wealth Quarterback LLC now owns 15,287 shares of the insurance provider's stock valued at $663,000 after buying an additional 266 shares during the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TFC. Morgan Stanley reduced their price objective on shares of Truist Financial from $50.00 to $43.00 and set an "equal weight" rating for the company in a research note on Monday, April 7th. TD Cowen assumed coverage on shares of Truist Financial in a report on Thursday, May 15th. They set a "hold" rating and a $44.00 price objective for the company. Argus set a $43.00 target price on shares of Truist Financial in a report on Monday, April 21st. Stephens dropped their target price on shares of Truist Financial from $48.00 to $46.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Finally, Barclays reduced their price target on shares of Truist Financial from $51.00 to $47.00 and set an "equal weight" rating on the stock in a report on Monday, April 21st. Nine analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Truist Financial presently has a consensus rating of "Moderate Buy" and a consensus price target of $47.83.

Truist Financial Trading Up 0.8%

Shares of NYSE:TFC traded up $0.30 during mid-day trading on Tuesday, reaching $40.75. The stock had a trading volume of 4,643,480 shares, compared to its average volume of 8,284,724. The firm has a 50 day simple moving average of $38.40 and a two-hundred day simple moving average of $42.56. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The firm has a market cap of $53.37 billion, a PE ratio of 12.24, a price-to-earnings-growth ratio of 1.63 and a beta of 0.84. Truist Financial Co. has a twelve month low of $33.56 and a twelve month high of $49.06.

Truist Financial (NYSE:TFC - Get Free Report) last released its earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, meeting the consensus estimate of $0.87. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The business had revenue of $4.95 billion during the quarter, compared to analysts' expectations of $4.99 billion. During the same period last year, the business earned $0.90 earnings per share. On average, research analysts predict that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 9th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 5.10%. The ex-dividend date of this dividend was Friday, May 9th. Truist Financial's payout ratio is 61.36%.

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.