Focus Financial Network Inc. ADV purchased a new stake in shares of Truist Financial Co. (NYSE:TFC – Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 10,417 shares of the insurance provider’s stock, valued at approximately $385,000.
Several other institutional investors have also added to or reduced their stakes in TFC. Operose Advisors LLC bought a new position in Truist Financial in the 3rd quarter worth $31,000. Missouri Trust & Investment Co lifted its stake in shares of Truist Financial by 227.2% in the 4th quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 593 shares during the period. Tyler Stone Wealth Management bought a new position in shares of Truist Financial in the 3rd quarter worth approximately $33,000. Morton Brown Family Wealth LLC lifted its stake in shares of Truist Financial by 236.0% in the 4th quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 649 shares during the period. Finally, Northwest Financial Advisors bought a new position in shares of Truist Financial in the 4th quarter worth approximately $34,000. 71.28% of the stock is currently owned by institutional investors.
Truist Financial Trading Up 1.7 %
TFC stock opened at $37.75 on Monday. The firm has a fifty day moving average price of $38.26 and a 200 day moving average price of $36.60. Truist Financial Co. has a fifty-two week low of $26.57 and a fifty-two week high of $40.51. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market cap of $50.51 billion, a PE ratio of -28.60, a price-to-earnings-growth ratio of 1.89 and a beta of 1.06.
Truist Financial (NYSE:TFC – Get Free Report) last posted its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.12. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The business had revenue of $4.87 billion for the quarter, compared to analysts’ expectations of $5.70 billion. During the same quarter in the previous year, the business posted $1.09 earnings per share. The business’s revenue was down 8.8% compared to the same quarter last year. Sell-side analysts anticipate that Truist Financial Co. will post 3.33 earnings per share for the current fiscal year.
Truist Financial Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 10th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 5.51%. The ex-dividend date of this dividend is Thursday, May 9th. Truist Financial’s dividend payout ratio (DPR) is -157.58%.
Insider Buying and Selling at Truist Financial
In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of the business’s stock in a transaction 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 owns 16,132 shares in the company, valued at $604,627.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.17% of the company’s stock.
Analyst Upgrades and Downgrades
TFC has been the topic of a number of recent analyst reports. Compass Point upgraded shares of Truist Financial from a “neutral” rating to a “buy” rating and raised their target price for the stock from $34.00 to $42.00 in a research note on Tuesday, April 23rd. Morgan Stanley reiterated an “equal weight” rating and set a $43.00 price objective on shares of Truist Financial in a research report on Monday, April 22nd. TheStreet cut shares of Truist Financial from a “b-” rating to a “c” rating in a research report on Tuesday, February 20th. StockNews.com cut shares of Truist Financial from a “hold” rating to a “sell” rating in a research report on Friday, May 10th. Finally, Citigroup lifted their price objective on shares of Truist Financial from $42.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Truist Financial has a consensus rating of “Moderate Buy” and an average price target of $43.17.
Truist Financial Company Profile
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
