Truist Financial Co. (NYSE:TFC) Shares Purchased by Triangle Securities Wealth Management

Triangle Securities Wealth Management boosted its holdings in Truist Financial Co. (NYSE:TFC – Get Rating) by 4.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 62,906 shares of the insurance provider’s stock after purchasing an additional 2,594 shares during the quarter. Truist Financial makes up 1.0% of Triangle Securities Wealth Management’s portfolio, making the stock its 28th biggest holding. Triangle Securities Wealth Management’s holdings in Truist Financial were worth $2,707,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Norris Perne & French LLP MI increased its stake in Truist Financial by 4.4% in the second quarter. Norris Perne & French LLP MI now owns 4,767 shares of the insurance provider’s stock valued at $226,000 after purchasing an additional 199 shares during the last quarter. Tompkins Financial Corp increased its stake in Truist Financial by 8.0% in the third quarter. Tompkins Financial Corp now owns 3,246 shares of the insurance provider’s stock valued at $141,000 after purchasing an additional 241 shares during the last quarter. Folger Nolan Fleming Douglas Capital Management Inc. grew its position in Truist Financial by 3.2% during the third quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 8,071 shares of the insurance provider’s stock valued at $351,000 after acquiring an additional 250 shares during the period. Fortis Advisors LLC grew its position in Truist Financial by 2.6% during the third quarter. Fortis Advisors LLC now owns 10,228 shares of the insurance provider’s stock valued at $445,000 after acquiring an additional 258 shares during the period. Finally, Rossmore Private Capital grew its position in Truist Financial by 0.7% during the third quarter. Rossmore Private Capital now owns 40,103 shares of the insurance provider’s stock valued at $1,746,000 after acquiring an additional 260 shares during the period. 72.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Truist Financial news, Director David M. Ratcliffe purchased 13,125 shares of the business’s stock in a transaction that occurred on Friday, March 10th. The shares were acquired at an average price of $38.08 per share, for a total transaction of $499,800.00. Following the completion of the purchase, the director now owns 39,025 shares in the company, valued at approximately $1,486,072. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Truist Financial news, insider Hugh S. Cummins III sold 35,229 shares of the company’s stock in a transaction that occurred on Friday, January 27th. The stock was sold at an average price of $49.05, for a total transaction of $1,727,982.45. Following the sale, the insider now owns 307,069 shares in the company, valued at $15,061,734.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director David M. Ratcliffe acquired 13,125 shares of the business’s stock in a transaction on Friday, March 10th. The shares were purchased at an average price of $38.08 per share, for a total transaction of $499,800.00. Following the purchase, the director now directly owns 39,025 shares of the company’s stock, valued at $1,486,072. The disclosure for this purchase can be found here. Insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on TFC. Keefe, Bruyette & Woods raised Truist Financial from an “underperform” rating to a “market perform” rating and lowered their price target for the company from $47.00 to $45.00 in a research report on Sunday, March 12th. Jefferies Financial Group raised Truist Financial from a “hold” rating to a “buy” rating in a research report on Monday, January 9th. Citigroup raised Truist Financial from a “neutral” rating to a “buy” rating and set a $52.00 price target for the company in a research report on Wednesday. Morgan Stanley lowered their price target on Truist Financial from $59.00 to $56.00 and set an “equal weight” rating for the company in a research report on Friday, January 20th. Finally, StockNews.com started coverage on Truist Financial in a research report on Thursday. They issued a “hold” rating for the company. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $51.58.

Truist Financial Stock Down 7.2 %

Shares of NYSE:TFC traded down $2.38 during trading on Friday, hitting $30.56. The company’s stock had a trading volume of 46,869,423 shares, compared to its average volume of 10,809,917. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.80 and a current ratio of 0.81. Truist Financial Co. has a fifty-two week low of $28.70 and a fifty-two week high of $61.10. The stock’s 50-day moving average price is $45.85 and its two-hundred day moving average price is $44.99. The company has a market capitalization of $40.59 billion, a PE ratio of 6.90, a PEG ratio of 1.33 and a beta of 1.10.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 1st. Investors of record on Friday, February 10th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 6.81%. The ex-dividend date of this dividend was Thursday, February 9th. Truist Financial’s dividend payout ratio (DPR) is 46.95%.

Truist Financial Profile

(Get Rating)

Truist Financial Corp. is a financial holding company, which engages in the provision of banking services to individuals, businesses, and municipalities. It operates through the following segments: Consumer Banking and Wealth, Corporate and Commercial Banking, Insurance Holdings, and Other, Treasury & Corporate.