Truist Financial Co. (NYSE:TFC) Shares Purchased by Silver Oak Securities Incorporated

Silver Oak Securities Incorporated raised its stake in shares of Truist Financial Co. (NYSE:TFC) by 57.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,715 shares of the insurance provider’s stock after buying an additional 4,269 shares during the period. Silver Oak Securities Incorporated’s holdings in Truist Financial were worth $433,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of TFC. Vanguard Group Inc. grew its stake in shares of Truist Financial by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 117,271,628 shares of the insurance provider’s stock worth $3,355,141,000 after purchasing an additional 365,871 shares during the last quarter. Royal Bank of Canada grew its stake in shares of Truist Financial by 5.0% in the 3rd quarter. Royal Bank of Canada now owns 15,384,890 shares of the insurance provider’s stock worth $440,162,000 after purchasing an additional 732,801 shares during the last quarter. Morgan Stanley grew its stake in shares of Truist Financial by 0.3% in the 3rd quarter. Morgan Stanley now owns 15,364,138 shares of the insurance provider’s stock worth $439,568,000 after purchasing an additional 39,510 shares during the last quarter. Truist Financial Corp grew its stake in shares of Truist Financial by 0.5% in the 3rd quarter. Truist Financial Corp now owns 5,197,904 shares of the insurance provider’s stock worth $148,712,000 after purchasing an additional 26,972 shares during the last quarter. Finally, Jennison Associates LLC grew its stake in shares of Truist Financial by 45.1% in the 3rd quarter. Jennison Associates LLC now owns 3,673,609 shares of the insurance provider’s stock worth $105,102,000 after purchasing an additional 1,141,944 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Insider Buying and Selling at Truist Financial

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of Truist Financial stock in a transaction that occurred on Thursday, March 7th. The shares were 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 directly owns 16,132 shares in the company, valued at $604,627.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on TFC shares. TheStreet cut shares of Truist Financial from a “b-” rating to a “c” rating in a research note on Tuesday, February 20th. Royal Bank of Canada raised their target price on shares of Truist Financial from $40.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. Raymond James raised their target price on shares of Truist Financial from $34.00 to $41.00 and gave the stock an “outperform” rating in a report on Friday, January 5th. StockNews.com cut shares of Truist Financial from a “hold” rating to a “sell” rating in a report on Thursday, March 28th. Finally, Stephens reiterated an “overweight” rating and issued a $43.00 target price on shares of Truist Financial in a report on Tuesday, April 23rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $41.97.

Truist Financial Stock Performance

TFC stock opened at $37.55 on Wednesday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market cap of $50.11 billion, a P/E ratio of -28.45, a P/E/G ratio of 2.02 and a beta of 1.08. The firm has a 50 day simple moving average of $36.98 and a 200 day simple moving average of $35.03. Truist Financial Co. has a 52 week low of $25.56 and a 52 week high of $39.29.

Truist Financial (NYSE:TFC) last posted its earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, beating 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 negative net margin of 4.28% and a positive return on equity of 9.15%. The company’s revenue was down 8.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.09 earnings per share. Research analysts anticipate that Truist Financial Co. will post 3.27 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 10th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 5.54%. The ex-dividend date is Thursday, May 9th. Truist Financial’s dividend payout ratio (DPR) is presently -157.58%.

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.