Greenleaf Trust increased its stake in shares of Truist Financial Co. (NYSE:TFC – Free Report) by 4.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 13,699 shares of the insurance provider’s stock after acquiring an additional 600 shares during the period. Greenleaf Trust’s holdings in Truist Financial were worth $594,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Truist Financial by 48.7% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,963 shares of the insurance provider’s stock worth $129,000 after purchasing an additional 971 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Truist Financial by 3.5% during the 3rd quarter. Principal Financial Group Inc. now owns 1,511,299 shares of the insurance provider’s stock worth $64,638,000 after purchasing an additional 50,637 shares during the last quarter. Cadence Bank increased its position in shares of Truist Financial by 101.6% during the 3rd quarter. Cadence Bank now owns 185,184 shares of the insurance provider’s stock worth $7,920,000 after purchasing an additional 93,322 shares during the last quarter. Boston Common Asset Management LLC increased its stake in shares of Truist Financial by 66.4% during the 3rd quarter. Boston Common Asset Management LLC now owns 154,523 shares of the insurance provider’s stock worth $6,609,000 after purchasing an additional 61,683 shares during the last quarter. Finally, Independent Advisor Alliance increased its stake in shares of Truist Financial by 10.7% during the 3rd quarter. Independent Advisor Alliance now owns 282,607 shares of the insurance provider’s stock worth $12,087,000 after purchasing an additional 27,408 shares during the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
TFC has been the topic of several recent analyst reports. Piper Sandler boosted their price objective on shares of Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Royal Bank of Canada lifted their target price on Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. The Goldman Sachs Group lifted their target price on Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. JPMorgan Chase & Co. lifted their target price on Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Finally, Citigroup raised their target price on shares of Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a research note on Monday, November 25th. Eleven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $50.79.
Insider Activity at Truist Financial
In other news, CEO William H. Rogers, Jr. bought 34,180 shares of the stock in a transaction 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 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 ownership of the stock. The transaction was disclosed in a legal filing 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 dated Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total value of $229,429.20. Following the completion of the transaction, the director now directly owns 11,246 shares of the company’s stock, valued at approximately $519,565.20. The trade was a 30.63 % decrease in their position. The disclosure for this sale can be found here. 0.17% of the stock is owned by insiders.
Truist Financial Stock Performance
Shares of NYSE:TFC opened at $47.41 on Wednesday. The company’s 50 day simple moving average is $45.53 and its 200 day simple moving average is $44.14. The stock has a market capitalization of $62.93 billion, a price-to-earnings ratio of 14.24, a price-to-earnings-growth ratio of 1.69 and a beta of 1.08. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. Truist Financial Co. has a 1 year low of $34.23 and a 1 year high of $49.06.
Truist Financial (NYSE:TFC – Get Free Report) last released its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.03. The business had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. Truist Financial’s revenue was up 3.4% compared to the same quarter last year. During the same period last year, the firm posted $0.81 earnings per share. As a group, research analysts predict that Truist Financial Co. will post 3.95 EPS for the current fiscal year.
Truist Financial Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.39%. The ex-dividend date is Friday, February 14th. Truist Financial’s payout ratio is 62.46%.
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.
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