Wealth Alliance Purchases 637 Shares of Truist Financial Co. (NYSE:TFC)

Wealth Alliance lifted its position in shares of Truist Financial Co. (NYSE:TFC) by 1.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,097 shares of the insurance provider’s stock after acquiring an additional 637 shares during the period. Wealth Alliance’s holdings in Truist Financial were worth $1,333,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fairfield Bush & CO. acquired a new position in Truist Financial during the 1st quarter worth approximately $25,000. Morton Brown Family Wealth LLC increased its position in Truist Financial by 236.0% during 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 in the last quarter. Quarry LP acquired a new position in Truist Financial during the 1st quarter worth approximately $32,000. OFI Invest Asset Management acquired a new position in Truist Financial during the 3rd quarter worth approximately $26,000. Finally, Operose Advisors LLC acquired a new position in Truist Financial during the 3rd quarter worth approximately $31,000. Institutional investors own 71.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on TFC shares. UBS Group upped their price target on shares of Truist Financial from $45.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, April 5th. StockNews.com lowered shares of Truist Financial from a “hold” rating to a “sell” rating in a research note on Thursday, March 28th. HSBC upped their price objective on shares of Truist Financial from $37.00 to $39.00 and gave the company a “hold” rating in a research note on Thursday, March 28th. Keefe, Bruyette & Woods upped their price objective on shares of Truist Financial from $44.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, April 5th. Finally, Barclays upped their price objective on shares of Truist Financial from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $41.47.

Insider Buying and Selling at Truist Financial

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 completion of the sale, the director now directly owns 16,132 shares in the company, valued at $604,627.36. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.17% of the stock is currently owned by company insiders.

Truist Financial Stock Down 2.9 %

Shares of NYSE TFC opened at $35.63 on Wednesday. Truist Financial Co. has a 12-month low of $25.56 and a 12-month high of $39.29. The firm has a market cap of $47.55 billion, a PE ratio of -32.99, a P/E/G ratio of 2.26 and a beta of 1.08. The company’s fifty day simple moving average is $36.62 and its 200 day simple moving average is $34.36. 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 (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. The company had revenue of $5.70 billion during the quarter, compared to the consensus estimate 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 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 3.33 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were given a dividend of $0.52 per share. The ex-dividend date was Thursday, February 8th. This represents a $2.08 annualized dividend and a yield of 5.84%. Truist Financial’s payout ratio is presently -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.