PFW Advisors LLC Invests $227,000 in Truist Financial Co. (NYSE:TFC)

PFW Advisors LLC acquired a new stake in Truist Financial Co. (NYSE:TFC) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,221 shares of the insurance provider’s stock, valued at approximately $227,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Bangor Savings Bank increased its stake in shares of Truist Financial by 92.5% during the 4th 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. purchased a new position in Truist Financial during the third quarter worth $26,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Truist Financial in the third quarter worth $32,000. Fortitude Family Office LLC lifted its position in shares of Truist Financial by 376.7% in the third quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock valued at $37,000 after acquiring an additional 678 shares in the last quarter. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of Truist Financial during the third quarter valued at $45,000. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO William H. Rogers, Jr. purchased 34,180 shares of the company’s stock in a transaction on Monday, November 25th. The shares were bought at an average cost of $48.56 per share, for a total transaction of $1,659,780.80. Following the transaction, the chief executive officer now owns 691,451 shares of the company’s stock, valued at $33,576,860.56. This represents a 5.20 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director K. David Jr. Boyer sold 4,966 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total value of $229,429.20. Following the completion of the sale, the director now owns 11,246 shares of the company’s stock, valued at $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. Corporate insiders own 0.17% of the company’s stock.

Truist Financial Stock Up 0.8 %

TFC stock traded up $0.35 during midday trading on Monday, hitting $43.13. 8,692,407 shares of the company’s stock were exchanged, compared to its average volume of 6,529,573. The firm has a 50 day moving average price of $45.36 and a 200-day moving average price of $43.38. 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 $57.26 billion, a price-to-earnings ratio of -30.16, a price-to-earnings-growth ratio of 1.88 and a beta of 1.08. 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 (NYSE:TFC) last posted its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.08. The firm had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $5.05 billion. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. On average, analysts anticipate that Truist Financial Co. will post 3.7 EPS for the current year.

Truist Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 8th were given a dividend of $0.52 per share. The ex-dividend date was Friday, November 8th. This represents a $2.08 annualized dividend and a dividend yield of 4.82%. Truist Financial’s dividend payout ratio is currently -145.45%.

Analyst Ratings Changes

A number of research firms have issued reports on TFC. Keefe, Bruyette & Woods upped their target price on shares of Truist Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. The Goldman Sachs Group upped their price objective on shares of Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Hsbc Global Res upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. JPMorgan Chase & Co. raised their price objective on Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Finally, StockNews.com downgraded shares of Truist Financial from a “hold” rating to a “sell” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $49.89.

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.