TCF National Bank purchased a new stake in Truist Financial Corporation (NYSE:TFC) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 13,663 shares of the insurance provider’s stock, valued at approximately $769,000.
Several other institutional investors and hedge funds also recently made changes to their positions in TFC. Hudock Capital Group LLC acquired a new position in shares of Truist Financial in the 4th quarter valued at $26,000. Riggs Asset Managment Co. Inc. acquired a new position in shares of Truist Financial in the 4th quarter valued at $26,000. NuWave Investment Management LLC acquired a new position in shares of Truist Financial in the 4th quarter valued at $26,000. Field & Main Bank purchased a new position in shares of Truist Financial in the 4th quarter valued at $26,000. Finally, Reilly Financial Advisors LLC purchased a new position in shares of Truist Financial in the 4th quarter valued at $27,000. Institutional investors own 73.02% of the company’s stock.
In related news, Director Thomas E. Skains sold 4,285 shares of Truist Financial stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $54.25, for a total transaction of $232,461.25. Following the sale, the director now owns 30,753 shares of the company’s stock, valued at approximately $1,668,350.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kelly S. King sold 201,806 shares of Truist Financial stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $54.22, for a total transaction of $10,941,921.32. The disclosure for this sale can be found here. Insiders have sold a total of 225,327 shares of company stock worth $12,227,882 in the last ninety days. 0.49% of the stock is currently owned by insiders.
TFC has been the topic of a number of research reports. Royal Bank of Canada reissued a “buy” rating on shares of Truist Financial in a research note on Monday, February 3rd. Janney Montgomery Scott downgraded shares of Truist Financial from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. Stephens cut their target price on shares of Truist Financial from $61.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. UBS Group cut their target price on shares of Truist Financial from $53.00 to $52.00 and set a “neutral” rating on the stock in a research note on Monday, October 21st. Finally, Zacks Investment Research raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $63.00 target price on the stock in a research note on Wednesday, January 1st. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $55.33.
Truist Financial stock traded down $0.16 during midday trading on Friday, hitting $54.66. 148,687 shares of the stock were exchanged, compared to its average volume of 5,490,059. Truist Financial Corporation has a 1 year low of $44.51 and a 1 year high of $56.92. The firm has a market cap of $41.76 billion, a P/E ratio of 14.55, a P/E/G ratio of 1.50 and a beta of 1.16. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.94 and a quick ratio of 0.92. The company has a 50 day moving average price of $55.21 and a two-hundred day moving average price of $52.79.
Truist Financial (NYSE:TFC) last released its quarterly earnings results on Thursday, January 30th. The insurance provider reported $1.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.10. Truist Financial had a net margin of 21.49% and a return on equity of 10.03%. The firm had revenue of $3.63 billion for the quarter, compared to the consensus estimate of $3.65 billion. During the same quarter in the previous year, the firm posted $1.05 EPS. As a group, analysts predict that Truist Financial Corporation will post 4.4 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Friday, February 14th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 3.29%. The ex-dividend date is Thursday, February 13th. Truist Financial’s dividend payout ratio (DPR) is 41.19%.
Truist Financial Profile
Truist Financial Corp., formerly BB&T, is a bank holding company based in Charlotte, North Carolina. Its bank operates 2,049 branches in 15 states and Washington, DC, and offers consumer and commercial banking, securities brokerage, asset management, mortgage, and insurance products and services.
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