Delta Financial Group Inc. Purchases Shares of 5,546 Truist Financial Co. (NYSE:TFC)

Delta Financial Group Inc. purchased a new stake in Truist Financial Co. (NYSE:TFC) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 5,546 shares of the insurance provider’s stock, valued at approximately $205,000.

Other large investors have also recently added to or reduced their stakes in the company. Douglas Lane & Associates LLC lifted its stake in shares of Truist Financial by 6.3% during the 3rd quarter. Douglas Lane & Associates LLC now owns 1,544,537 shares of the insurance provider’s stock worth $44,189,000 after buying an additional 91,579 shares during the last quarter. Loudon Investment Management LLC lifted its stake in shares of Truist Financial by 18.5% during the 3rd quarter. Loudon Investment Management LLC now owns 131,398 shares of the insurance provider’s stock worth $3,759,000 after buying an additional 20,490 shares during the last quarter. Pathstone Family Office LLC lifted its stake in shares of Truist Financial by 84.8% during the 3rd quarter. Pathstone Family Office LLC now owns 97,317 shares of the insurance provider’s stock worth $2,786,000 after buying an additional 44,659 shares during the last quarter. Cerity Partners LLC lifted its stake in shares of Truist Financial by 36.5% during the 2nd quarter. Cerity Partners LLC now owns 679,604 shares of the insurance provider’s stock worth $20,626,000 after buying an additional 181,828 shares during the last quarter. Finally, Qube Research & Technologies Ltd lifted its stake in shares of Truist Financial by 37.8% during the 3rd quarter. Qube Research & Technologies Ltd now owns 2,700,400 shares of the insurance provider’s stock worth $77,258,000 after buying an additional 740,722 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TFC. UBS Group raised their price target on shares of Truist Financial from $37.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Odeon Capital Group raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $40.45 target price on the stock in a report on Thursday, December 14th. Barclays raised their target price on shares of Truist Financial from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Tuesday, January 2nd. TheStreet lowered shares of Truist Financial from a “b-” rating to a “c” rating in a report on Tuesday, February 20th. Finally, Royal Bank of Canada raised their target price on shares of Truist Financial from $40.00 to $42.00 and gave the company an “outperform” rating in a report on Friday, January 19th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Truist Financial currently has a consensus rating of “Hold” and a consensus price target of $40.30.

Insider Activity

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of Truist Financial stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $37.48, for a total transaction of $141,074.72. Following the transaction, the director now directly owns 16,132 shares of the company’s stock, valued at $604,627.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.17% of the stock is owned by company insiders.

Truist Financial Stock Up 1.0 %

TFC stock traded up $0.39 during midday trading on Friday, reaching $38.98. 8,405,594 shares of the company’s stock traded hands, compared to its average volume of 9,941,998. The company has a market cap of $52.02 billion, a price-to-earnings ratio of -36.09, a P/E/G ratio of 1.62 and a beta of 1.07. The firm’s fifty day moving average price is $36.47 and its 200-day moving average price is $33.46. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.74. Truist Financial Co. has a 52 week low of $25.56 and a 52 week high of $39.29.

Truist Financial (NYSE:TFC) last announced its earnings results on Thursday, January 18th. The insurance provider reported $0.81 EPS for the quarter, beating the consensus estimate of $0.68 by $0.13. Truist Financial had a negative net margin of 3.28% and a positive return on equity of 9.64%. The company had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.70 billion. During the same quarter in the prior year, the company posted $1.30 earnings per share. As a group, sell-side analysts forecast that Truist Financial Co. will post 3.39 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 9th were given a $0.52 dividend. The ex-dividend date was Thursday, February 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.34%. Truist Financial’s dividend payout ratio (DPR) is currently -192.59%.

About Truist Financial

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.