1ST Source Bank Decreases Holdings in Truist Financial Co. (NYSE:TFC)

1ST Source Bank decreased its stake in Truist Financial Co. (NYSE:TFC) by 7.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,463 shares of the insurance provider’s stock after selling 524 shares during the period. 1ST Source Bank’s holdings in Truist Financial were worth $276,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Great Valley Advisor Group Inc. bought a new position in Truist Financial during the second quarter valued at $245,000. Gradient Investments LLC increased its holdings in Truist Financial by 182.0% in the 2nd quarter. Gradient Investments LLC now owns 6,195 shares of the insurance provider’s stock worth $241,000 after acquiring an additional 3,998 shares during the last quarter. TCW Group Inc. raised its stake in Truist Financial by 4.0% in the 2nd quarter. TCW Group Inc. now owns 18,665 shares of the insurance provider’s stock valued at $725,000 after acquiring an additional 719 shares during the period. Calton & Associates Inc. lifted its holdings in Truist Financial by 63.2% during the second quarter. Calton & Associates Inc. now owns 8,393 shares of the insurance provider’s stock valued at $326,000 after purchasing an additional 3,250 shares during the last quarter. Finally, Chesley Taft & Associates LLC boosted its position in Truist Financial by 0.9% during the second quarter. Chesley Taft & Associates LLC now owns 125,236 shares of the insurance provider’s stock worth $4,865,000 after purchasing an additional 1,120 shares during the period. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director K. David Jr. Boyer sold 4,966 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total value of $229,429.20. Following the transaction, the director now owns 11,246 shares in the company, valued at $519,565.20. The trade was a 30.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William H. Rogers, Jr. acquired 34,180 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were purchased 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. The trade was a 5.20 % increase in their position. The disclosure for this purchase can be found here. 0.17% of the stock is owned by company insiders.

Truist Financial Trading Up 0.1 %

NYSE:TFC opened at $45.78 on Friday. The company has a 50-day moving average price of $45.10 and a 200-day moving average price of $42.31. The stock has a market cap of $60.77 billion, a price-to-earnings ratio of -32.01, a P/E/G ratio of 1.87 and a beta of 1.06. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.62. Truist Financial Co. has a 12 month low of $34.23 and a 12 month high of $49.06.

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

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders 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 dividend yield of 4.54%. The ex-dividend date was Friday, November 8th. Truist Financial’s dividend payout ratio (DPR) is presently -145.45%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Keefe, Bruyette & Woods upped their target price on shares of Truist Financial from $48.00 to $49.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. UBS Group raised their price target on Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Royal Bank of Canada upped 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. Finally, Wells Fargo & Company lifted their price target on shares of Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Twelve equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $48.12.

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.