Truist Financial Co. (NYSE:TFC) Shares Bought by Verity & Verity LLC

Verity & Verity LLC lifted its position in shares of Truist Financial Co. (NYSE:TFC) by 9.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 425,535 shares of the insurance provider’s stock after acquiring an additional 37,396 shares during the period. Truist Financial comprises 1.7% of Verity & Verity LLC’s investment portfolio, making the stock its 21st biggest holding. Verity & Verity LLC’s holdings in Truist Financial were worth $18,460,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in TFC. Bangor Savings Bank boosted its position in Truist Financial by 92.5% during the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 272 shares in the last quarter. Valley Wealth Managers Inc. acquired a new position in shares of Truist Financial during the 3rd quarter worth approximately $26,000. MidAtlantic Capital Management Inc. purchased a new position in shares of Truist Financial during the 3rd quarter valued at approximately $32,000. Fortitude Family Office LLC grew its stake in Truist Financial by 376.7% in the 3rd quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock valued at $37,000 after acquiring an additional 678 shares during the period. Finally, Ashton Thomas Securities LLC purchased a new stake in Truist Financial in the 3rd quarter worth $45,000. 71.28% of the stock is owned by hedge funds and other institutional investors.

Truist Financial Trading Up 5.9 %

Shares of Truist Financial stock opened at $47.63 on Friday. The business’s fifty day simple moving average is $45.36 and its 200-day simple moving average is $43.48. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62. Truist Financial Co. has a 52 week low of $34.23 and a 52 week high of $49.06.

Truist Financial (NYSE:TFC) last announced its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.03. The company had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5,047,370 billion. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. Truist Financial’s revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.81 earnings per share. Research analysts predict that Truist Financial Co. will post 3.61 earnings per share for the current year.

Truist Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 8th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.37%. The ex-dividend date was Friday, November 8th. Truist Financial’s dividend payout ratio (DPR) is -145.45%.

Analyst Upgrades and Downgrades

TFC has been the topic of several research analyst reports. StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday. Hsbc Global Res upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Royal Bank of Canada raised their target price on Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Wells Fargo & Company boosted their price target on Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Finally, Citigroup raised their price objective on Truist Financial from $47.00 to $51.00 and gave the company a “neutral” rating in a report on Monday, November 25th. Eleven research 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 company. According to data from MarketBeat.com, Truist Financial presently has an average rating of “Moderate Buy” and an average target price of $49.95.

Insider Transactions at Truist Financial

In other Truist Financial news, CEO William H. Rogers, Jr. purchased 34,180 shares of the company’s stock in a transaction on Monday, November 25th. The stock was acquired at an average price of $48.56 per share, for a total transaction of $1,659,780.80. Following the completion of the purchase, the chief executive officer now directly owns 691,451 shares in the company, valued at approximately $33,576,860.56. The trade was a 5.20 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director K. David Jr. Boyer sold 4,966 shares of the stock in a transaction on Wednesday, December 4th. The shares were 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.17% of the company’s stock.

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.