First Hawaiian Bank Has $479,000 Holdings in Truist Financial Co. (NYSE:TFC)

First Hawaiian Bank decreased its holdings in Truist Financial Co. (NYSE:TFC) by 66.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 11,043 shares of the insurance provider’s stock after selling 21,736 shares during the period. First Hawaiian Bank’s holdings in Truist Financial were worth $479,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in TFC. Tradewinds LLC. increased its stake in Truist Financial by 0.5% in the 3rd quarter. Tradewinds LLC. now owns 44,513 shares of the insurance provider’s stock valued at $1,904,000 after buying an additional 222 shares during the period. Burkett Financial Services LLC increased its stake in shares of Truist Financial by 26.8% in the third quarter. Burkett Financial Services LLC now owns 1,198 shares of the insurance provider’s stock worth $51,000 after acquiring an additional 253 shares during the last quarter. Prime Capital Investment Advisors LLC raised its holdings in shares of Truist Financial by 2.7% during the third quarter. Prime Capital Investment Advisors LLC now owns 10,399 shares of the insurance provider’s stock worth $445,000 after acquiring an additional 270 shares in the last quarter. Bangor Savings Bank boosted its position in Truist Financial by 92.5% during the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 272 shares during the last quarter. Finally, Meridian Wealth Management LLC grew its stake in Truist Financial by 1.3% in the third quarter. Meridian Wealth Management LLC now owns 21,733 shares of the insurance provider’s stock valued at $930,000 after purchasing an additional 280 shares in the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Truist Financial

In related news, CEO William H. Rogers, Jr. acquired 34,180 shares of the business’s stock in a transaction on Monday, November 25th. The stock was bought at an average cost of $48.56 per share, with a total value of $1,659,780.80. Following the completion of the acquisition, the chief executive officer now owns 691,451 shares in the company, valued at $33,576,860.56. The trade was a 5.20 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director K. David Jr. Boyer sold 4,966 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were 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 $519,565.20. This represents a 30.63 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

TFC has been the subject of several research reports. Compass Point lifted their price target on Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. The Goldman Sachs Group lifted their target price on shares of Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. UBS Group increased their price target on shares of Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Stephens reiterated an “overweight” rating and issued a $54.00 price objective on shares of Truist Financial in a report on Thursday, January 2nd. Finally, Barclays raised their target price on Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $49.89.

Truist Financial Stock Performance

NYSE:TFC opened at $42.83 on Friday. The firm’s 50-day moving average is $45.36 and its 200-day moving average is $43.34. The company has a market cap of $56.86 billion, a price-to-earnings ratio of -29.95, a PEG ratio of 1.88 and a beta of 1.08. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85. Truist Financial Co. has a 52-week low of $34.23 and a 52-week high of $49.06.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Thursday, October 17th. The insurance provider reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.08. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. The firm had revenue of $5.09 billion for the quarter, compared to analyst estimates of $5.05 billion. Equities research analysts anticipate that Truist Financial Co. will post 3.7 earnings per share for the current year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 8th were paid a dividend of $0.52 per share. The ex-dividend date was Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.86%. Truist Financial’s dividend payout ratio is currently -145.45%.

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.