Greenleaf Trust Raises Stock Holdings in Truist Financial Co. (NYSE:TFC)

Greenleaf Trust lifted its holdings in Truist Financial Co. (NYSE:TFC) by 6.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 14,195 shares of the insurance provider’s stock after purchasing an additional 838 shares during the period. Greenleaf Trust’s holdings in Truist Financial were worth $524,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of TFC. International Assets Investment Management LLC purchased a new stake in shares of Truist Financial in the third quarter worth approximately $831,000. Vontobel Holding Ltd. raised its holdings in shares of Truist Financial by 9.0% in the third quarter. Vontobel Holding Ltd. now owns 47,504 shares of the insurance provider’s stock worth $1,359,000 after buying an additional 3,914 shares during the period. SG Americas Securities LLC raised its holdings in shares of Truist Financial by 36.3% in the third quarter. SG Americas Securities LLC now owns 119,510 shares of the insurance provider’s stock worth $3,419,000 after buying an additional 31,818 shares during the period. Naples Global Advisors LLC raised its holdings in shares of Truist Financial by 40.4% in the third quarter. Naples Global Advisors LLC now owns 10,154 shares of the insurance provider’s stock worth $291,000 after buying an additional 2,920 shares during the period. Finally, Ziegler Capital Management LLC raised its holdings in shares of Truist Financial by 4.2% in the third quarter. Ziegler Capital Management LLC now owns 195,144 shares of the insurance provider’s stock worth $5,583,000 after buying an additional 7,858 shares during the period. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Truist Financial Trading Up 3.4 %

Truist Financial stock opened at $38.04 on Tuesday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.82 and a quick ratio of 0.82. Truist Financial Co. has a 1-year low of $25.56 and a 1-year high of $39.29. The business has a fifty day moving average price of $36.68 and a 200-day moving average price of $34.62.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.12. The firm had revenue of $4.87 billion during the quarter, compared to analysts’ expectations of $5.70 billion. Truist Financial had a positive return on equity of 9.64% and a negative net margin of 3.28%. The business’s quarterly revenue was down 8.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.09 EPS. As a group, equities analysts anticipate that Truist Financial Co. will post 3.33 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Piper Sandler increased their price objective on Truist Financial from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, January 19th. HSBC increased their price objective on Truist Financial from $37.00 to $39.00 and gave the stock a “hold” rating in a research note on Thursday, March 28th. Bank of America raised Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 price objective on the stock in a research note on Thursday, January 4th. Jefferies Financial Group increased their price objective on Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. Finally, UBS Group increased their price objective on Truist Financial from $45.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. One analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $41.56.

Insider Transactions at Truist Financial

In other news, Director K. David Jr. Boyer sold 3,764 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $37.48, for a total value of $141,074.72. Following the completion of the sale, the director now owns 16,132 shares of the company’s stock, valued at approximately $604,627.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.17% of the company’s stock.

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.