Lbmc Investment Advisors LLC Increases Position in Truist Financial Co. (NYSE:TFC)

Lbmc Investment Advisors LLC grew its holdings in shares of Truist Financial Co. (NYSE:TFC) by 3.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 8,415 shares of the insurance provider’s stock after purchasing an additional 317 shares during the period. Lbmc Investment Advisors LLC’s holdings in Truist Financial were worth $365,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

TFC has been the subject of several analyst reports. Raymond James raised their price target on shares of Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a research report on Thursday. UBS Group boosted their price target on Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. increased their price objective on Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. HSBC raised Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research report on Tuesday, January 7th. Finally, Citigroup raised their price target on shares of Truist Financial from $47.00 to $51.00 and gave the company a “neutral” rating in a report on Monday, November 25th. Eleven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $49.95.

Truist Financial Trading Up 5.9 %

Shares of TFC opened at $47.63 on Friday. 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 0.62, a quick ratio of 0.85 and a current ratio of 0.85. The business has a 50-day simple moving average of $45.40 and a two-hundred day simple moving average of $43.54.

Truist Financial (NYSE:TFC) last released its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.03. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. The company had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5,047,370 billion. During the same period in the prior year, the firm posted $0.81 EPS. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. As a group, analysts predict that Truist Financial Co. will post 3.61 earnings per share for the current year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 8th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.37%. The ex-dividend date was Friday, November 8th. Truist Financial’s dividend payout ratio is currently -145.45%.

Insiders Place Their Bets

In related news, Director K. David Jr. Boyer sold 4,966 shares of the company’s stock in a transaction on 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 transaction, the director now owns 11,246 shares in the company, valued at approximately $519,565.20. This represents a 30.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William H. Rogers, Jr. purchased 34,180 shares of Truist Financial stock in a transaction on Monday, November 25th. The stock was bought at an average price of $48.56 per share, for a total transaction of $1,659,780.80. Following the completion of the acquisition, the chief executive officer now owns 691,451 shares in the company, valued at $33,576,860.56. The trade was a 5.20 % increase in their position. The disclosure for this purchase can be found here. 0.17% of the stock is currently owned by company insiders.

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.