Fulton Bank N.A. increased its holdings in shares of Truist Financial Co. (NYSE:TFC) by 57.1% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 35,034 shares of the insurance provider’s stock after purchasing an additional 12,739 shares during the quarter. Fulton Bank N.A.’s holdings in Truist Financial were worth $2,043,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of TFC. Private Asset Management Inc. acquired a new stake in Truist Financial in the first quarter valued at approximately $205,000. Koshinski Asset Management Inc. grew its position in Truist Financial by 5.8% in the fourth quarter. Koshinski Asset Management Inc. now owns 9,449 shares of the insurance provider’s stock valued at $453,000 after acquiring an additional 522 shares in the last quarter. Bard Financial Services Inc. acquired a new stake in Truist Financial in the fourth quarter valued at approximately $1,857,000. Rollins Financial acquired a new stake in Truist Financial in the fourth quarter valued at approximately $286,000. Finally, Curi Capital acquired a new stake in Truist Financial in the fourth quarter valued at approximately $217,000. 72.11% of the stock is owned by hedge funds and other institutional investors.

Shares of TFC opened at $58.36 on Thursday. The firm has a market capitalization of $78.46 billion, a price-to-earnings ratio of 20.21, a price-to-earnings-growth ratio of 1.75 and a beta of 1.36. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.91 and a current ratio of 0.93. Truist Financial Co. has a one year low of $29.24 and a one year high of $61.26. The stock’s fifty day moving average is $58.34 and its 200-day moving average is $49.42.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Wednesday, January 20th. The insurance provider reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.19. The company had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.42 billion. Truist Financial had a return on equity of 7.76% and a net margin of 16.95%. During the same period last year, the company earned $1.04 earnings per share. Analysts forecast that Truist Financial Co. will post 3.54 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, March 1st. Stockholders of record on Friday, February 12th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date of this dividend was Thursday, February 11th. Truist Financial’s dividend payout ratio (DPR) is 41.19%.

In related news, EVP Scott Case sold 9,851 shares of Truist Financial stock in a transaction dated Wednesday, March 17th. The stock was sold at an average price of $58.39, for a total transaction of $575,199.89. Following the transaction, the executive vice president now directly owns 20,583 shares of the company’s stock, valued at $1,201,841.37. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Clarke R. Starnes III sold 48,175 shares of Truist Financial stock in a transaction dated Friday, January 22nd. The stock was sold at an average price of $51.06, for a total value of $2,459,815.50. Following the transaction, the insider now directly owns 182,205 shares in the company, valued at $9,303,387.30. The disclosure for this sale can be found here. Insiders have sold 237,094 shares of company stock worth $12,045,695 over the last three months. Corporate insiders own 0.35% of the company’s stock.

Several research firms have recently commented on TFC. Stephens increased their target price on Truist Financial from $54.00 to $66.00 in a research note on Tuesday, March 30th. Truist cut Truist Financial from a “buy” rating to a “hold” rating in a research note on Thursday, January 7th. Jefferies Financial Group cut Truist Financial from a “buy” rating to a “hold” rating and increased their target price for the company from $48.00 to $55.00 in a research note on Thursday, January 7th. Deutsche Bank Aktiengesellschaft increased their target price on Truist Financial from $56.00 to $65.00 in a research note on Monday, March 15th. Finally, Robert W. Baird reiterated a “neutral” rating and set a $53.00 target price on shares of Truist Financial in a research note on Thursday, January 7th. Nine analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Truist Financial currently has an average rating of “Hold” and an average target price of $51.02.

About Truist Financial

Truist Financial Corporation, a holding 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.

Featured Story: Coverage Ratio

Want to see what other hedge funds are holding TFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Truist Financial Co. (NYSE:TFC).

Institutional Ownership by Quarter for Truist Financial (NYSE:TFC)

Receive News & Ratings for Truist Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Truist Financial and related companies with MarketBeat.com's FREE daily email newsletter.