Truist Financial Co. (NYSE:TFC) Holdings Boosted by Laurel Wealth Advisors LLC

Laurel Wealth Advisors LLC boosted its holdings in shares of Truist Financial Co. (NYSE:TFC) by 1.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 55,838 shares of the insurance provider’s stock after acquiring an additional 965 shares during the quarter. Laurel Wealth Advisors LLC’s holdings in Truist Financial were worth $2,422,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of TFC. Acadian Asset Management LLC acquired a new position in Truist Financial in the 2nd quarter valued at approximately $1,111,000. Parallel Advisors LLC boosted its position in Truist Financial by 5.0% during the second quarter. Parallel Advisors LLC now owns 9,843 shares of the insurance provider’s stock valued at $382,000 after purchasing an additional 473 shares during the last quarter. Plato Investment Management Ltd increased its position in Truist Financial by 48.2% in the 2nd quarter. Plato Investment Management Ltd now owns 6,537 shares of the insurance provider’s stock worth $254,000 after purchasing an additional 2,125 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Truist Financial by 3.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,932,261 shares of the insurance provider’s stock valued at $346,957,000 after buying an additional 299,196 shares during the last quarter. Finally, Citizens Financial Group Inc. RI grew its stake in shares of Truist Financial by 33.0% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 8,610 shares of the insurance provider’s stock valued at $334,000 after buying an additional 2,136 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Trading Up 1.7 %

Truist Financial stock opened at $43.87 on Wednesday. The business has a 50 day moving average price of $45.41 and a two-hundred day moving average price of $43.46. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62. Truist Financial Co. has a 12 month low of $34.23 and a 12 month high of $49.06. The stock has a market cap of $58.24 billion, a price-to-earnings ratio of -30.68, a price-to-earnings-growth ratio of 1.88 and a beta of 1.08.

Truist Financial (NYSE:TFC) last issued its earnings results 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 business had revenue of $5.09 billion during the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. As a group, equities analysts forecast that Truist Financial Co. will post 3.7 EPS for the current year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 8th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.74%. The ex-dividend date of this dividend was Friday, November 8th. Truist Financial’s dividend payout ratio (DPR) is presently -145.45%.

Insiders Place Their Bets

In related news, Director K. David Jr. Boyer sold 4,966 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total transaction of $229,429.20. Following the completion of the sale, the director now directly owns 11,246 shares of the company’s stock, valued at $519,565.20. This trade represents a 30.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William H. Rogers, Jr. acquired 34,180 shares of Truist Financial stock in a transaction on Monday, November 25th. The stock was acquired at an average cost of $48.56 per share, for a total transaction of $1,659,780.80. Following the purchase, the chief executive officer now owns 691,451 shares of the company’s stock, valued at approximately $33,576,860.56. This represents a 5.20 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on TFC shares. UBS Group lifted their target price on shares of Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, October 18th. HSBC raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Tuesday, January 7th. StockNews.com lowered Truist Financial from a “hold” rating to a “sell” rating in a report on Thursday, January 9th. Piper Sandler upped their price target on Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Finally, The Goldman Sachs Group raised their price objective on Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Truist Financial presently 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.