Parkside Financial Bank & Trust Has $290,000 Stock Position in Truist Financial Co. (NYSE:TFC)

Parkside Financial Bank & Trust boosted its position in shares of Truist Financial Co. (NYSE:TFC) by 27.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 7,863 shares of the insurance provider’s stock after purchasing an additional 1,690 shares during the period. Parkside Financial Bank & Trust’s holdings in Truist Financial were worth $290,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Morton Brown Family Wealth LLC lifted its position in shares of Truist Financial by 236.0% in the fourth quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock worth $34,000 after buying an additional 649 shares during the last quarter. OFI Invest Asset Management bought a new position in shares of Truist Financial in the third quarter worth about $26,000. Criterion Capital Advisors LLC bought a new position in shares of Truist Financial in the fourth quarter worth about $38,000. Operose Advisors LLC bought a new position in shares of Truist Financial in the third quarter worth about $31,000. Finally, Tyler Stone Wealth Management bought a new position in shares of Truist Financial in the third quarter worth about $33,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TFC. Stephens restated an “overweight” rating and set a $43.00 price target on shares of Truist Financial in a research note on Tuesday. Barclays boosted their price target on Truist Financial from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 2nd. Raymond James boosted their price target on Truist Financial from $34.00 to $41.00 and gave the company an “outperform” rating in a research note on Friday, January 5th. Royal Bank of Canada boosted their price target on Truist Financial from $40.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. Finally, Keefe, Bruyette & Woods upped their price objective on Truist Financial from $44.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $41.59.

Insider Activity

In other news, Director K. David Jr. Boyer sold 3,764 shares of the stock in a transaction 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 transaction, the director now owns 16,132 shares of the company’s stock, valued at approximately $604,627.36. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.17% of the stock is currently owned by company insiders.

Truist Financial Trading Up 0.1 %

NYSE:TFC traded up $0.02 during trading hours on Wednesday, hitting $38.86. 2,257,061 shares of the stock were exchanged, compared to its average volume of 9,631,731. The company’s 50 day moving average is $36.76 and its two-hundred day moving average is $34.70. Truist Financial Co. has a twelve month low of $25.56 and a twelve month high of $39.29. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $51.86 billion, a P/E ratio of -29.43, a price-to-earnings-growth ratio of 2.39 and a beta of 1.08.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.12. The firm had revenue of $4.87 billion for the quarter, compared to the consensus estimate of $5.70 billion. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The business’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.09 EPS. On average, sell-side analysts anticipate that Truist Financial Co. will post 3.27 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 10th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.35%. Truist Financial’s dividend payout ratio (DPR) is currently -157.58%.

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.