Fiduciary Alliance LLC Grows Stake in Truist Financial Co. (NYSE:TFC)

Fiduciary Alliance LLC raised its stake in shares of Truist Financial Co. (NYSE:TFC) by 8.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 97,618 shares of the insurance provider’s stock after buying an additional 7,597 shares during the quarter. Fiduciary Alliance LLC’s holdings in Truist Financial were worth $4,235,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Aprio Wealth Management LLC grew its position in Truist Financial by 4.4% during the 4th quarter. Aprio Wealth Management LLC now owns 7,086 shares of the insurance provider’s stock worth $307,000 after purchasing an additional 300 shares during the period. Czech National Bank lifted its position in Truist Financial by 5.5% in the fourth quarter. Czech National Bank now owns 287,833 shares of the insurance provider’s stock valued at $12,486,000 after purchasing an additional 15,036 shares during the period. Graypoint LLC grew its holdings in Truist Financial by 8.9% in the fourth quarter. Graypoint LLC now owns 6,745 shares of the insurance provider’s stock valued at $293,000 after purchasing an additional 550 shares during the period. RMR Wealth Builders grew its position in shares of Truist Financial by 1.7% in the 4th quarter. RMR Wealth Builders now owns 19,165 shares of the insurance provider’s stock worth $831,000 after acquiring an additional 324 shares in the last quarter. Finally, Sugarloaf Wealth Management LLC raised its position in shares of Truist Financial by 23.4% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 6,848 shares of the insurance provider’s stock worth $297,000 after buying an additional 1,298 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Performance

Shares of NYSE TFC traded up $0.06 during trading on Monday, reaching $42.84. 724,091 shares of the stock traded hands, compared to its average volume of 5,381,156. The stock has a market capitalization of $56.87 billion, a P/E ratio of -29.96, a price-to-earnings-growth ratio of 1.88 and a beta of 1.08. Truist Financial Co. has a 52-week low of $34.23 and a 52-week high of $49.06. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.85 and a quick ratio of 0.85. The company has a 50-day moving average of $45.36 and a 200-day moving average of $43.38.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.08. The company had revenue of $5.09 billion for the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. Analysts forecast that Truist Financial Co. will post 3.7 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 8th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.86%. The ex-dividend date of this dividend was Friday, November 8th. Truist Financial’s dividend payout ratio (DPR) is currently -145.45%.

Insider Buying and Selling at Truist Financial

In related news, CEO William H. Rogers, Jr. purchased 34,180 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was bought at an average cost of $48.56 per share, for a total transaction of $1,659,780.80. Following the completion of the transaction, the chief executive officer now directly owns 691,451 shares in the company, valued at $33,576,860.56. This represents a 5.20 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director K. David Jr. Boyer sold 4,966 shares of the stock in a transaction on 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 sale, the director now owns 11,246 shares in the company, 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. Insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Wells Fargo & Company increased their price target on shares of Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Keefe, Bruyette & Woods increased their price objective on Truist Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. HSBC raised Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research report on Tuesday, January 7th. StockNews.com downgraded shares of Truist Financial from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, Citigroup increased their price target on Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. One analyst has rated the stock with a sell rating, ten have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $49.89.

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.