Ballew Advisors Inc Sells 1,059 Shares of Truist Financial Co. (NYSE:TFC)

Ballew Advisors Inc lowered its stake in Truist Financial Co. (NYSE:TFC) by 11.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 8,159 shares of the insurance provider’s stock after selling 1,059 shares during the period. Ballew Advisors Inc’s holdings in Truist Financial were worth $352,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Financial Management Professionals Inc. boosted its stake in Truist Financial by 12.8% in the 4th quarter. Financial Management Professionals Inc. now owns 10,693 shares of the insurance provider’s stock valued at $464,000 after purchasing an additional 1,211 shares during the period. Ameritas Advisory Services LLC acquired a new position in shares of Truist Financial in the fourth quarter valued at about $251,000. Verity & Verity LLC increased its position in Truist Financial by 9.6% during the fourth quarter. Verity & Verity LLC now owns 425,535 shares of the insurance provider’s stock worth $18,460,000 after acquiring an additional 37,396 shares during the period. Arkadios Wealth Advisors raised its stake in Truist Financial by 14.0% in the 4th quarter. Arkadios Wealth Advisors now owns 126,549 shares of the insurance provider’s stock worth $5,490,000 after purchasing an additional 15,501 shares in the last quarter. Finally, Folger Nolan Fleming Douglas Capital Management Inc. boosted its holdings in Truist Financial by 9.0% in the 4th quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 8,485 shares of the insurance provider’s stock valued at $368,000 after purchasing an additional 700 shares during the period. Institutional investors own 71.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on TFC shares. Keefe, Bruyette & Woods lifted their price target on shares of Truist Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Hsbc Global Res raised Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. 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 research report on Friday, November 15th. Barclays raised their price target on Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Finally, Royal Bank of Canada increased their price objective on shares of Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Eleven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $49.95.

Truist Financial Trading Up 5.9 %

Shares of NYSE TFC opened at $47.63 on Friday. The company has a 50 day simple moving average of $45.40 and a 200 day simple moving average of $43.54. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.62. Truist Financial Co. has a 1 year low of $34.23 and a 1 year high of $49.06.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. The company had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5,047,370 billion. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. Truist Financial’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.81 earnings per share. Equities research analysts anticipate that Truist Financial Co. will post 3.61 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 8th were paid a $0.52 dividend. The ex-dividend date was Friday, November 8th. This represents a $2.08 annualized dividend and a dividend yield of 4.37%. Truist Financial’s payout ratio is -145.45%.

Insider Buying and Selling

In other Truist Financial news, CEO William H. Rogers, Jr. bought 34,180 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was acquired at an average price of $48.56 per share, with a total value of $1,659,780.80. Following the completion of the purchase, the chief executive officer now directly owns 691,451 shares of the company’s stock, valued at approximately $33,576,860.56. This trade represents a 5.20 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director K. David Jr. Boyer sold 4,966 shares of the business’s stock in a transaction that occurred on 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. This trade represents a 30.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.17% of the stock is owned by insiders.

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.