Sonora Investment Management Group LLC Has $14.54 Million Position in Truist Financial Co. (NYSE:TFC)

Sonora Investment Management Group LLC grew its stake in shares of Truist Financial Co. (NYSE:TFC) by 1.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 335,203 shares of the insurance provider’s stock after acquiring an additional 4,965 shares during the quarter. Sonora Investment Management Group LLC’s holdings in Truist Financial were worth $14,541,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Crews Bank & Trust acquired a new stake in shares of Truist Financial in the 4th quarter valued at $1,677,000. Capital Investment Advisory Services LLC boosted its stake in Truist Financial by 0.7% in the fourth quarter. Capital Investment Advisory Services LLC now owns 250,434 shares of the insurance provider’s stock valued at $10,864,000 after buying an additional 1,832 shares in the last quarter. Foster & Motley Inc. raised its stake in Truist Financial by 45.4% during the fourth quarter. Foster & Motley Inc. now owns 16,051 shares of the insurance provider’s stock worth $696,000 after acquiring an additional 5,014 shares in the last quarter. Ibex Wealth Advisors lifted its holdings in shares of Truist Financial by 842.2% in the fourth quarter. Ibex Wealth Advisors now owns 175,781 shares of the insurance provider’s stock worth $7,625,000 after acquiring an additional 157,125 shares during the last quarter. Finally, BSW Wealth Partners boosted its stake in shares of Truist Financial by 6.6% in the 4th quarter. BSW Wealth Partners now owns 11,047 shares of the insurance provider’s stock valued at $479,000 after purchasing an additional 682 shares in the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on TFC shares. Royal Bank of Canada increased their price objective on shares of Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Piper Sandler boosted their price objective on Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Hsbc Global Res raised Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. Finally, Stephens lifted their target price on shares of Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Eleven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Truist Financial presently has a consensus rating of “Moderate Buy” and an average price target of $50.79.

Insider Activity

In related news, CEO William H. Rogers, Jr. acquired 34,180 shares of the company’s stock in a transaction on 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 purchase, 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 ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director K. David Jr. Boyer sold 4,966 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total transaction of $229,429.20. Following the completion of the sale, the director now owns 11,246 shares of the company’s stock, valued at approximately $519,565.20. This represents 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 Trading Up 1.2 %

NYSE:TFC opened at $48.02 on Friday. The firm has a fifty day simple moving average of $45.53 and a two-hundred day simple moving average of $44.02. Truist Financial Co. has a 12 month low of $34.23 and a 12 month high of $49.06. The stock has a market capitalization of $63.75 billion, a price-to-earnings ratio of 14.42, a PEG ratio of 1.68 and a beta of 1.08. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61.

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

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.08 annualized dividend and a yield of 4.33%. 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.