National Bank of Canada FI Purchases 751,261 Shares of Truist Financial Co. (NYSE:TFC)

National Bank of Canada FI increased its position in shares of Truist Financial Co. (NYSE:TFC) by 138.2% in the 4th quarter, HoldingsChannel reports. The firm owned 1,294,699 shares of the insurance provider’s stock after acquiring an additional 751,261 shares during the quarter. National Bank of Canada FI’s holdings in Truist Financial were worth $48,556,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of TFC. OFI Invest Asset Management bought a new stake in Truist Financial in the third quarter valued at approximately $26,000. Operose Advisors LLC purchased a new position in Truist Financial during the 3rd quarter valued at approximately $31,000. Tyler Stone Wealth Management bought a new stake in Truist Financial during the 3rd quarter valued at $33,000. Morton Brown Family Wealth LLC increased its holdings 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 valued at $34,000 after acquiring an additional 649 shares during the period. Finally, Authentikos Wealth Advisory LLC purchased a new position in Truist Financial during the 3rd quarter worth $36,000. 71.28% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have commented on TFC shares. JPMorgan Chase & Co. lifted their target price on Truist Financial from $39.50 to $40.50 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Piper Sandler boosted their target price on Truist Financial from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, January 19th. HSBC boosted their price target on Truist Financial from $37.00 to $39.00 and gave the stock a “hold” rating in a research note on Thursday, March 28th. Keefe, Bruyette & Woods upped their target price on Truist Financial from $44.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, April 5th. Finally, TheStreet lowered Truist Financial from a “b-” rating to a “c” rating in a research note on Tuesday, February 20th. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Truist Financial currently has an average rating of “Moderate Buy” and an average target price of $41.88.

Truist Financial Stock Performance

Shares of TFC stock traded up $0.28 on Monday, hitting $39.13. 1,942,978 shares of the stock were exchanged, compared to its average volume of 9,399,267. Truist Financial Co. has a one year low of $26.49 and a one year high of $39.38. The firm’s 50 day moving average is $37.16 and its two-hundred day moving average is $35.22. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $52.22 billion, a PE ratio of -29.43, a P/E/G ratio of 2.03 and a beta of 1.07.

Truist Financial (NYSE:TFC) last announced 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 positive return on equity of 9.15% and a negative net margin of 4.28%. The company had revenue of $4.87 billion for the quarter, compared to analysts’ expectations of $5.70 billion. During the same period last year, the firm posted $1.09 EPS. Truist Financial’s revenue for the quarter was down 8.8% compared to the same quarter last year. Sell-side analysts expect that Truist Financial Co. will post 3.3 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 10th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $2.08 annualized dividend and a dividend yield of 5.32%. Truist Financial’s dividend payout ratio is presently -157.58%.

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 on Thursday, March 7th. The stock was sold at an average price of $37.48, for a total transaction of $141,074.72. Following the completion of the transaction, the director now owns 16,132 shares in the company, valued at $604,627.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.17% of the stock is owned by company 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.