Mutual Advisors LLC lifted its holdings in shares of Truist Financial Co. (NYSE:TFC – Free Report) by 16.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,207 shares of the insurance provider’s stock after buying an additional 4,221 shares during the period. Mutual Advisors LLC’s holdings in Truist Financial were worth $1,115,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Fairfield Bush & CO. purchased a new position in Truist Financial in the first quarter worth about $25,000. OFI Invest Asset Management purchased a new position in shares of Truist Financial in the third quarter worth approximately $26,000. Operose Advisors LLC bought a new stake in Truist Financial during the third quarter valued at approximately $31,000. Quarry LP bought a new position in Truist Financial in the first quarter worth approximately $32,000. Finally, Tyler Stone Wealth Management purchased a new position in shares of Truist Financial during the 3rd quarter worth $33,000. 71.28% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several research firms have issued reports on TFC. Stephens raised Truist Financial from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $41.00 to $43.00 in a report on Tuesday, March 19th. Raymond James increased their target price on shares of Truist Financial from $34.00 to $41.00 and gave the stock an “outperform” rating in a report on Friday, January 5th. TheStreet downgraded shares of Truist Financial from a “b-” rating to a “c” rating in a report on Tuesday, February 20th. Odeon Capital Group raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $40.45 price objective for the company in a research note on Thursday, December 14th. Finally, Bank of America upgraded shares of Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 target price on the stock in a research note on Thursday, January 4th. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $39.47.
View Our Latest Stock Analysis on Truist Financial
Truist Financial Stock Performance
Truist Financial stock opened at $37.59 on Tuesday. Truist Financial Co. has a 52-week low of $25.56 and a 52-week high of $38.55. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.74. The firm’s fifty day moving average is $36.31 and its 200 day moving average is $33.27.
Truist Financial (NYSE:TFC – Get Free Report) last announced its earnings results on Thursday, January 18th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.13. The firm had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.70 billion. Truist Financial had a negative net margin of 3.28% and a positive return on equity of 9.64%. During the same period in the prior year, the company earned $1.30 EPS. As a group, equities research analysts predict that Truist Financial Co. will post 3.35 EPS for the current fiscal year.
Truist Financial Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 9th were issued a $0.52 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $2.08 annualized dividend and a dividend yield of 5.53%. Truist Financial’s dividend payout ratio (DPR) is presently -192.59%.
Insider Buying and Selling
In related news, Director K. David Jr. Boyer sold 3,764 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $37.48, for a total value of $141,074.72. Following the sale, the director now directly owns 16,132 shares of the company’s stock, valued at approximately $604,627.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.17% of the stock is owned by corporate insiders.
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.
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Source: defenseworld.net
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