Coerente Capital Management decreased its position in Truist Financial Co. (NYSE:TFC – Get Rating) by 1.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 399,237 shares of the insurance provider’s stock after selling 5,015 shares during the quarter. Truist Financial makes up 3.8% of Coerente Capital Management’s portfolio, making the stock its 14th biggest holding. Coerente Capital Management’s holdings in Truist Financial were worth $17,179,000 at the end of the most recent quarter.
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Other institutional investors also recently bought and sold shares of the company. Fairfield Bush & CO. bought a new position in Truist Financial in the first quarter valued at about $25,000. Newbridge Financial Services Group Inc. raised its stake in shares of Truist Financial by 555.8% in the third quarter. Newbridge Financial Services Group Inc. now owns 623 shares of the insurance provider’s stock worth $27,000 after buying an additional 528 shares during the period. Webster Bank N. A. raised its stake in shares of Truist Financial by 88.5% in the third quarter. Webster Bank N. A. now owns 639 shares of the insurance provider’s stock worth $28,000 after buying an additional 300 shares during the period. Western Pacific Wealth Management LP bought a new position in shares of Truist Financial in the third quarter worth about $35,000. Finally, NuWave Investment Management LLC bought a new position in shares of Truist Financial in the third quarter worth about $40,000. Institutional investors own 72.49% of the company’s stock.
Truist Financial Trading Up 4.5 %
Shares of Truist Financial stock traded up $1.36 on Monday, reaching $31.92. The company had a trading volume of 8,176,039 shares, compared to its average volume of 10,738,170. The firm has a market cap of $42.39 billion, a price-to-earnings ratio of 6.90, a P/E/G ratio of 1.27 and a beta of 1.10. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.80. The firm’s 50-day moving average price is $45.85 and its two-hundred day moving average price is $44.96. Truist Financial Co. has a 1 year low of $28.70 and a 1 year high of $61.10.
Truist Financial Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, March 1st. Stockholders of record on Friday, February 10th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 6.52%. The ex-dividend date was Thursday, February 9th. Truist Financial’s dividend payout ratio (DPR) is 46.95%.
Analyst Upgrades and Downgrades
Several research analysts have recently commented on the company. Stephens downgraded Truist Financial from an “overweight” rating to an “equal weight” rating and set a $53.00 price objective on the stock. in a research note on Tuesday, January 31st. Deutsche Bank Aktiengesellschaft downgraded Truist Financial from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $61.00 to $48.00 in a research note on Friday, January 6th. Citigroup raised Truist Financial from a “neutral” rating to a “buy” rating and set a $52.00 price objective on the stock in a research note on Wednesday, March 15th. Robert W. Baird raised Truist Financial from a “neutral” rating to an “outperform” rating and set a $53.00 target price on the stock in a research note on Monday, March 13th. Finally, Wells Fargo & Company decreased their target price on Truist Financial to $57.00 in a research note on Wednesday, December 14th. One analyst has rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $51.58.
Insider Transactions at Truist Financial
In related news, Director David M. Ratcliffe bought 13,125 shares of the company’s stock in a transaction dated Friday, March 10th. The stock was purchased at an average price of $38.08 per share, for a total transaction of $499,800.00. Following the acquisition, the director now owns 39,025 shares in the company, valued at $1,486,072. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Hugh S. Cummins III sold 35,229 shares of the business’s stock in a transaction on Friday, January 27th. The stock was sold at an average price of $49.05, for a total transaction of $1,727,982.45. Following the completion of the transaction, the insider now owns 307,069 shares in the company, valued at approximately $15,061,734.45. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David M. Ratcliffe acquired 13,125 shares of the company’s stock in a transaction that occurred on Friday, March 10th. The shares were acquired at an average price of $38.08 per share, with a total value of $499,800.00. Following the acquisition, the director now owns 39,025 shares in the company, valued at $1,486,072. The disclosure for this purchase can be found here. Company insiders own 0.31% of the company’s stock.
Truist Financial Company Profile
Truist Financial Corp. is a financial holding company, which engages in the provision of banking services to individuals, businesses, and municipalities. It operates through the following segments: Consumer Banking and Wealth, Corporate and Commercial Banking, Insurance Holdings, and Other, Treasury & Corporate.
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