Truist Financial Co. (NYSE:TFC) Position Boosted by Capital Investment Advisory Services LLC

Capital Investment Advisory Services LLC raised its holdings in shares of Truist Financial Co. (NYSE:TFC) by 0.7% during the 4th quarter, Holdings Channel reports. The fund owned 250,434 shares of the insurance provider’s stock after purchasing an additional 1,832 shares during the period. Truist Financial makes up approximately 1.0% of Capital Investment Advisory Services LLC’s portfolio, making the stock its 17th largest holding. Capital Investment Advisory Services LLC’s holdings in Truist Financial were worth $10,864,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of the business. Bangor Savings Bank raised its holdings in Truist Financial by 92.5% during the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 272 shares in the last quarter. Valley Wealth Managers Inc. bought a new stake in shares of Truist Financial in the 3rd quarter worth $26,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Truist Financial in the third quarter valued at $32,000. Fortitude Family Office LLC boosted its stake in Truist Financial by 376.7% during the third quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock valued at $37,000 after buying an additional 678 shares in the last quarter. Finally, Ashton Thomas Securities LLC acquired a new position in Truist Financial during the third quarter worth about $45,000. Institutional investors own 71.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TFC. HSBC raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research note on Tuesday, January 7th. Piper Sandler upped their price target on Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Barclays raised their price objective on Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. Citigroup boosted their target price on Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. Finally, UBS Group upped their price target on shares of Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Eleven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $50.79.

Insider Buying and Selling at Truist Financial

In other Truist Financial news, CEO William H. Rogers, Jr. acquired 34,180 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were acquired at an average cost of $48.56 per share, for a total transaction of $1,659,780.80. Following the completion of the purchase, the chief executive officer now 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 filing with the SEC, which is accessible through this hyperlink. Also, Director K. David Jr. Boyer sold 4,966 shares of the 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 sale, the director now owns 11,246 shares of the company’s stock, valued at approximately $519,565.20. The trade was a 30.63 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.17% of the company’s stock.

Truist Financial Stock Up 0.4 %

Shares of Truist Financial stock opened at $47.44 on Thursday. The firm has a market cap of $62.98 billion, a price-to-earnings ratio of 14.25, a P/E/G ratio of 1.67 and a beta of 1.08. The stock has a 50-day simple moving average of $45.51 and a 200-day simple moving average of $44.00. Truist Financial Co. has a 52-week low of $34.23 and a 52-week high of $49.06. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83.

Truist Financial (NYSE:TFC) last posted its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The firm had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.05 billion. During the same period in the previous year, the company earned $0.81 earnings per share. The company’s revenue was up 3.4% compared to the same quarter last year. On average, equities research analysts expect that Truist Financial Co. will post 3.95 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.38%. The ex-dividend date of this dividend is Friday, February 14th. Truist Financial’s payout ratio is 62.46%.

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.