Coldstream Capital Management Inc. Acquires 1,337 Shares of Truist Financial Co. (NYSE:TFC)

Coldstream Capital Management Inc. increased its position in Truist Financial Co. (NYSE:TFC) by 8.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 16,858 shares of the insurance provider’s stock after buying an additional 1,337 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Truist Financial were worth $622,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of TFC. Principal Financial Group Inc. lifted its holdings in shares of Truist Financial by 0.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,497,536 shares of the insurance provider’s stock worth $42,845,000 after purchasing an additional 5,114 shares in the last quarter. US Bancorp DE lifted its stake in Truist Financial by 8.5% during the 3rd quarter. US Bancorp DE now owns 475,844 shares of the insurance provider’s stock valued at $13,614,000 after acquiring an additional 37,460 shares in the last quarter. MGO One Seven LLC lifted its stake in Truist Financial by 10.4% during the 3rd quarter. MGO One Seven LLC now owns 37,134 shares of the insurance provider’s stock valued at $1,062,000 after acquiring an additional 3,493 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in Truist Financial by 1.9% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 383,035 shares of the insurance provider’s stock worth $10,959,000 after acquiring an additional 7,067 shares during the last quarter. Finally, Aspire Private Capital LLC boosted its holdings in Truist Financial by 19.7% during the 3rd quarter. Aspire Private Capital LLC now owns 7,962 shares of the insurance provider’s stock worth $228,000 after acquiring an additional 1,308 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors.

Insider Activity at Truist Financial

In other news, Director K. David Jr. Boyer sold 3,764 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $37.48, for a total transaction of $141,074.72. Following the sale, the director now directly owns 16,132 shares in the company, valued at $604,627.36. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.17% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

TFC has been the topic of a number of analyst reports. Barclays initiated coverage on shares of Truist Financial in a report on Thursday, May 16th. They set an “equal weight” rating and a $43.00 price objective on the stock. Evercore ISI reaffirmed an “in-line” rating and set a $44.00 price objective on shares of Truist Financial in a report on Thursday, May 9th. TheStreet downgraded shares of Truist Financial from a “b-” rating to a “c” rating in a report on Tuesday, February 20th. Compass Point raised shares of Truist Financial from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $34.00 to $42.00 in a report on Tuesday, April 23rd. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $43.00 price objective on shares of Truist Financial in a report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $43.17.

Truist Financial Trading Down 1.7 %

Shares of Truist Financial stock opened at $38.88 on Thursday. Truist Financial Co. has a 52-week low of $26.57 and a 52-week high of $40.51. The stock’s 50-day simple moving average is $38.01 and its 200 day simple moving average is $36.19. The stock has a market capitalization of $52.03 billion, a P/E ratio of -29.45, a P/E/G ratio of 1.97 and a beta of 1.07. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.82 and a current ratio of 0.82.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.12. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The business had revenue of $4.87 billion for the quarter, compared to analysts’ expectations of $5.70 billion. During the same period in the previous year, the business posted $1.09 EPS. The firm’s quarterly revenue was down 8.8% compared to the same quarter last year. As a group, research analysts anticipate that Truist Financial Co. will post 3.34 EPS for the current year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 10th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 5.35%. The ex-dividend date of this dividend is Thursday, May 9th. Truist Financial’s dividend payout ratio is currently -157.58%.

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.