Franklin Street Advisors Inc. NC Acquires 1,000 Shares of Truist Financial Co. (NYSE:TFC)

Franklin Street Advisors Inc. NC raised its holdings in shares of Truist Financial Co. (NYSE:TFC) by 6.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,971 shares of the insurance provider’s stock after acquiring an additional 1,000 shares during the quarter. Franklin Street Advisors Inc. NC’s holdings in Truist Financial were worth $627,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Fairfield Bush & CO. bought a new position in Truist Financial in the 1st quarter worth about $25,000. OFI Invest Asset Management bought a new position in shares of Truist Financial in the third quarter valued at approximately $26,000. Operose Advisors LLC purchased a new position in Truist Financial during the third quarter valued at approximately $31,000. Quarry LP bought a new stake in Truist Financial during the 1st quarter worth approximately $32,000. Finally, Tyler Stone Wealth Management purchased a new stake in Truist Financial in the 3rd quarter worth approximately $33,000. 71.28% of the stock is owned by institutional investors.

Insider Buying and Selling at Truist Financial

In other news, Director K. David Jr. Boyer sold 3,764 shares of Truist Financial stock in a transaction that occurred on Thursday, March 7th. The stock was 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 in the company, valued at approximately $604,627.36. The sale was disclosed in a filing with the SEC, which is available through this link. 0.17% of the stock is currently owned by corporate insiders.

Truist Financial Stock Up 1.0 %

Shares of TFC stock opened at $38.97 on Friday. The business has a 50-day moving average of $36.41 and a 200 day moving average of $33.42. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.82 and a current ratio of 0.82. Truist Financial Co. has a 1-year low of $25.56 and a 1-year high of $39.29.

Truist Financial (NYSE:TFC) last issued its earnings results on Thursday, January 18th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, topping 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 quarter last year, the business earned $1.30 earnings per share. On average, equities analysts anticipate that Truist Financial Co. will post 3.39 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were paid 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 5.34%. Truist Financial’s payout ratio is presently -192.59%.

Analysts Set New Price Targets

Several research firms have recently weighed in on TFC. TheStreet cut shares of Truist Financial from a “b-” rating to a “c” rating in a report on Tuesday, February 20th. Bank of America raised Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 price target on the stock in a report on Thursday, January 4th. HSBC upped their price objective on shares of Truist Financial from $37.00 to $39.00 and gave the stock a “hold” rating in a research report on Thursday. Piper Sandler lifted their target price on shares of Truist Financial from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, January 19th. Finally, Stephens raised shares of Truist Financial from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $41.00 to $43.00 in a report on Tuesday, March 19th. One analyst has rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $40.30.

Truist Financial 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.