Community Bank N.A. Acquires 3,758 Shares of Truist Financial Co. (NYSE:TFC)

Community Bank N.A. grew its holdings in Truist Financial Co. (NYSE:TFC) by 4.1% during the 4th quarter, Holdings Channel reports. The firm owned 94,705 shares of the insurance provider’s stock after purchasing an additional 3,758 shares during the period. Community Bank N.A.’s holdings in Truist Financial were worth $3,496,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of TFC. North Reef Capital Management LP bought a new position in shares of Truist Financial in the 3rd quarter valued at about $66,804,000. Assenagon Asset Management S.A. boosted its stake in shares of Truist Financial by 342.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,526,939 shares of the insurance provider’s stock valued at $72,296,000 after purchasing an additional 1,955,448 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of Truist Financial by 45.1% in the 3rd quarter. Jennison Associates LLC now owns 3,673,609 shares of the insurance provider’s stock valued at $105,102,000 after purchasing an additional 1,141,944 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of Truist Financial by 3,359.6% in the 4th quarter. International Assets Investment Management LLC now owns 1,045,560 shares of the insurance provider’s stock valued at $38,602,000 after purchasing an additional 1,015,338 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Truist Financial by 1,155.4% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,054,500 shares of the insurance provider’s stock valued at $30,169,000 after purchasing an additional 970,500 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Down 0.1 %

TFC stock traded down $0.05 during mid-day trading on Wednesday, hitting $38.79. 7,015,126 shares of the company were exchanged, compared to its average volume of 9,696,075. 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 Co. has a 1-year low of $25.56 and a 1-year high of $39.29. The firm has a market cap of $51.77 billion, a P/E ratio of -29.39, a P/E/G ratio of 2.39 and a beta of 1.08. The firm’s 50 day simple moving average is $36.83 and its 200 day simple moving average is $34.73.

Truist Financial (NYSE:TFC) last posted 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 negative net margin of 4.28% and a positive return on equity of 9.15%. The company had revenue of $4.87 billion for the quarter, compared to the consensus estimate of $5.70 billion. During the same period last year, the company earned $1.09 earnings per share. The firm’s revenue was down 8.8% compared to the same quarter last year. On average, sell-side analysts predict that Truist Financial Co. will post 3.27 EPS for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 10th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.36%. Truist Financial’s dividend payout ratio (DPR) is presently -157.58%.

Insider Activity

In other news, Director K. David Jr. Boyer sold 3,764 shares of Truist Financial stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $37.48, for a total value of $141,074.72. Following the sale, the director now directly owns 16,132 shares in the company, valued at $604,627.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.17% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. StockNews.com downgraded shares of Truist Financial from a “hold” rating to a “sell” rating in a research report on Thursday, March 28th. Raymond James increased their price target on shares of Truist Financial from $34.00 to $41.00 and gave the company an “outperform” rating in a research report on Friday, January 5th. UBS Group increased their price target on shares of Truist Financial from $45.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, April 5th. Royal Bank of Canada increased their price target on shares of Truist Financial from $40.00 to $42.00 and gave the company an “outperform” rating in a research report on Friday, January 19th. Finally, TheStreet downgraded shares of Truist Financial from a “b-” rating to a “c” rating in a research report on Tuesday, February 20th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.97.

About Truist Financial

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.