Franklin Street Advisors Inc. NC Buys 1,200 Shares of Truist Financial Co. (NYSE:TFC)

Franklin Street Advisors Inc. NC boosted its position in Truist Financial Co. (NYSE:TFC) by 12.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,957 shares of the insurance provider’s stock after purchasing an additional 1,200 shares during the period. Franklin Street Advisors Inc. NC’s holdings in Truist Financial were worth $475,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted its holdings in Truist Financial by 0.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 494,122 shares of the insurance provider’s stock worth $21,134,000 after purchasing an additional 1,336 shares in the last quarter. Fulton Bank N.A. increased its holdings in Truist Financial by 3.0% during the 4th quarter. Fulton Bank N.A. now owns 61,183 shares of the insurance provider’s stock worth $2,654,000 after acquiring an additional 1,771 shares during the period. International Assets Investment Management LLC bought a new position in Truist Financial in the fourth quarter valued at $1,184,000. Bangor Savings Bank increased its position in shares of Truist Financial by 92.5% during the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 272 shares during the last quarter. Finally, Neville Rodie & Shaw Inc. raised its holdings in shares of Truist Financial by 17.9% during the 4th quarter. Neville Rodie & Shaw Inc. now owns 37,468 shares of the insurance provider’s stock valued at $1,626,000 after buying an additional 5,695 shares in the last quarter. 71.28% of the stock is owned by institutional investors.

Truist Financial Price Performance

TFC traded down $1.20 on Friday, hitting $42.75. 2,694,945 shares of the company’s stock traded hands, compared to its average volume of 5,278,174. Truist Financial Co. has a one year low of $34.23 and a one year high of $49.06. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.62. The firm has a market cap of $56.75 billion, a price-to-earnings ratio of -29.90, a P/E/G ratio of 1.88 and a beta of 1.08. The company’s 50 day simple moving average is $45.36 and its 200-day simple moving average is $43.26.

Truist Financial (NYSE:TFC) last posted its earnings results on Thursday, October 17th. The insurance provider reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.08. The firm had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $5.05 billion. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. As a group, research analysts anticipate that Truist Financial Co. will post 3.7 EPS for the current year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 8th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.87%. The ex-dividend date was Friday, November 8th. Truist Financial’s dividend payout ratio is currently -145.45%.

Insiders Place Their Bets

In other Truist Financial news, Director K. David Jr. Boyer sold 4,966 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total value of $229,429.20. Following the completion of the transaction, the director now directly owns 11,246 shares in the company, valued at approximately $519,565.20. The trade was a 30.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO William H. Rogers, Jr. acquired 34,180 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were acquired at an average price of $48.56 per share, with a total value of $1,659,780.80. Following the acquisition, the chief executive officer now owns 691,451 shares in the company, valued at approximately $33,576,860.56. The trade was a 5.20 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on TFC shares. JPMorgan Chase & Co. upped their price objective on shares of Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Wells Fargo & Company upped their target price on Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a report on Friday, November 15th. UBS Group lifted their target price on shares of Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Keefe, Bruyette & Woods upped their target price on Truist Financial from $48.00 to $49.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Finally, The Goldman Sachs Group boosted their price target on Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $49.89.

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.