Heritage Trust Co Purchases 358 Shares of Truist Financial Co. (NYSE:TFC)

Heritage Trust Co boosted its position in shares of Truist Financial Co. (NYSE:TFC) by 0.9% in the 1st quarter, HoldingsChannel.com reports. The firm owned 39,171 shares of the insurance provider’s stock after buying an additional 358 shares during the quarter. Heritage Trust Co’s holdings in Truist Financial were worth $2,285,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Atlas Private Wealth Advisors raised its holdings in Truist Financial by 890.9% during the 1st quarter. Atlas Private Wealth Advisors now owns 436 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 392 shares during the last quarter. Evolution Wealth Advisors LLC raised its holdings in Truist Financial by 274.1% during the 1st quarter. Evolution Wealth Advisors LLC now owns 505 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 370 shares during the last quarter. Mascoma Wealth Management LLC bought a new stake in Truist Financial during the 1st quarter worth about $30,000. RWM Asset Management LLC bought a new stake in Truist Financial during the 4th quarter worth about $30,000. Finally, Sterling Financial Planning Inc. bought a new stake in Truist Financial during the 4th quarter worth about $36,000. 71.96% of the stock is owned by hedge funds and other institutional investors.

In other Truist Financial news, EVP Joseph M. Thompson sold 5,265 shares of the business’s stock in a transaction that occurred on Monday, April 26th. The stock was sold at an average price of $58.20, for a total value of $306,423.00. Following the sale, the executive vice president now owns 37,741 shares in the company, valued at approximately $2,196,526.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael Baron Maguire sold 3,250 shares of the business’s stock in a transaction that occurred on Monday, April 19th. The shares were sold at an average price of $58.16, for a total value of $189,020.00. Following the completion of the sale, the executive vice president now owns 7,027 shares in the company, valued at approximately $408,690.32. The disclosure for this sale can be found here. Insiders sold a total of 20,997 shares of company stock worth $1,223,463 in the last 90 days. Company insiders own 0.37% of the company’s stock.

Several research firms have recently issued reports on TFC. Jefferies Financial Group boosted their target price on Truist Financial from $55.00 to $66.00 in a research report on Friday, April 9th. Raymond James restated a “market perform” rating on shares of Truist Financial in a research report on Monday, May 17th. Stephens boosted their target price on Truist Financial from $54.00 to $66.00 in a research report on Tuesday, March 30th. JPMorgan Chase & Co. boosted their target price on Truist Financial from $60.50 to $63.00 in a research report on Monday, May 3rd. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Truist Financial from $56.00 to $65.00 in a research report on Monday, March 15th. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $58.27.

Shares of TFC traded up $0.06 on Friday, hitting $57.89. The company’s stock had a trading volume of 112,423 shares, compared to its average volume of 5,884,313. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.62. The business has a fifty day moving average of $59.70. Truist Financial Co. has a fifty-two week low of $33.47 and a fifty-two week high of $62.69. The stock has a market capitalization of $77.85 billion, a price-to-earnings ratio of 17.31, a price-to-earnings-growth ratio of 1.55 and a beta of 1.35.

Truist Financial (NYSE:TFC) last released its earnings results on Wednesday, April 14th. The insurance provider reported $1.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.07. The firm had revenue of $5.48 billion for the quarter, compared to analysts’ expectations of $5.43 billion. Truist Financial had a return on equity of 9.48% and a net margin of 20.04%. The business’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.83 EPS. Sell-side analysts expect that Truist Financial Co. will post 4.68 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 1st. Shareholders of record on Friday, May 14th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 3.11%. The ex-dividend date was Thursday, May 13th. Truist Financial’s payout ratio is 47.37%.

Truist Financial Profile

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.

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

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