Wedmont Private Capital Reduces Its Stake in Truist Financial

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Wedmont Private Capital has reduced its stake in Truist Financial($NYSE:TFC) by selling off some of its shares. Truist Financial is a bank holding company that was formed through the merger of BB&T and SunTrust Banks. While the exact number of shares sold has not been disclosed, it is clear that Wedmont has reduced its position in the company. This move comes as something of a surprise, as Wedmont had been a major shareholder in both BB&T and SunTrust prior to their merger.

However, it is possible that Wedmont simply decided to cash out some of its position in the company after the merger was completed.

Stock Price

The move comes as the stock market has been mostly positive in recent days. However, on Wednesday, Truist Financial’s stock opened at $47.3 and closed at $46.0, down by 2.7% from the previous day’s close of $47.3. It is not clear what impact this will have on the company’s stock price in the short or long term.

VI Analysis

Truist Financial Corporation is a publicly traded bank holding company headquartered in Charlotte, North Carolina, United States. Truist Financial Corporation is a strong growth company with a high health score. It is classified as a “cheetah” type of company due to its high revenue or earnings growth. Cheetah companies are considered more volatile as they attempt to grow faster.

However, Truist Financial Corporation is capable of paying off debt and funding future operations.

Summary

Truist Financial Corporation is a bank holding company headquartered in Charlotte, North Carolina, United States. Despite the recent sale by Wedmont Private Capital, analysts remain mostly positive on the company. Truist is one of the largest banks in the United States with a strong presence in the Southeast.

The company has a well-diversified business mix and is benefiting from a favorable interest rate environment. Truist is also well-positioned for growth through its merger with SunTrust Banks.