Tidal Investments LLC Purchases 4,029 Shares of Truist Financial Co. (NYSE:TFC)

Tidal Investments LLC boosted its position in Truist Financial Co. (NYSE:TFC) by 6.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 62,803 shares of the insurance provider’s stock after buying an additional 4,029 shares during the quarter. Tidal Investments LLC’s holdings in Truist Financial were worth $2,686,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Valley Wealth Managers Inc. bought a new position in shares of Truist Financial in the third quarter worth about $26,000. MFA Wealth Advisors LLC bought a new position in Truist Financial in the 2nd quarter worth approximately $30,000. Y.D. More Investments Ltd acquired a new position in shares of Truist Financial during the second quarter worth approximately $31,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Truist Financial in the third quarter valued at approximately $32,000. Finally, Fortitude Family Office LLC grew its stake 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 worth $37,000 after acquiring an additional 678 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analyst Ratings Changes

TFC has been the subject of several research analyst reports. Royal Bank of Canada upped their target price 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 increased their target price on shares of Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. UBS Group lifted their target price on Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Finally, Stephens reissued an “overweight” rating and set a $50.00 price objective on shares of Truist Financial in a report on Tuesday, September 10th. Twelve equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $48.53.

Insider Transactions at Truist Financial

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

Truist Financial Trading Up 0.1 %

Shares of TFC stock opened at $45.78 on Monday. The company has a market capitalization of $60.77 billion, a P/E ratio of -32.01, a P/E/G ratio of 1.88 and a beta of 1.06. Truist Financial Co. has a 12-month low of $34.23 and a 12-month high of $49.06. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62. The firm has a 50-day moving average price of $45.10 and a 200 day moving average price of $42.38.

Truist Financial (NYSE:TFC) last posted its earnings results on Thursday, October 17th. The insurance provider reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.08. The company had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. Research analysts forecast that Truist Financial Co. will post 3.7 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 8th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.54%. The ex-dividend date was Friday, November 8th. Truist Financial’s dividend payout ratio is currently -145.45%.

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.