Patriot Financial Group Insurance Agency LLC Grows Position in Truist Financial Co. (NYSE:TFC)

Patriot Financial Group Insurance Agency LLC raised its position in Truist Financial Co. (NYSE:TFC) by 5.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 15,824 shares of the insurance provider’s stock after purchasing an additional 750 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Truist Financial were worth $686,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Bangor Savings Bank lifted its stake in shares of Truist Financial by 92.5% during the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock worth $25,000 after acquiring an additional 272 shares during the last quarter. Valley Wealth Managers Inc. bought a new stake in shares of Truist Financial during the third quarter worth $26,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Truist Financial during the third quarter valued at $32,000. Fortitude Family Office LLC grew its holdings in shares of Truist Financial by 376.7% in the third quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 678 shares during the last quarter. Finally, Ashton Thomas Securities LLC purchased a new position in Truist Financial in the 3rd quarter worth about $45,000. Institutional investors own 71.28% of the company’s stock.

Insider Transactions at Truist Financial

In related news, Director K. David Jr. Boyer sold 4,966 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total transaction of $229,429.20. Following the completion of the sale, the director now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William H. Rogers, Jr. acquired 34,180 shares of Truist Financial stock in a transaction that occurred on Monday, November 25th. The stock was purchased at an average cost of $48.56 per share, with a total value of $1,659,780.80. Following the completion of the purchase, the chief executive officer now 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. Corporate insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on TFC. Stephens boosted their price objective on shares of Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Raymond James increased their price objective on Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. JPMorgan Chase & Co. lifted their price objective on Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, January 17th. Finally, HSBC upgraded shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a report on Tuesday, January 7th. Eleven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.79.

Truist Financial Stock Down 0.8 %

TFC stock opened at $47.25 on Wednesday. The firm’s fifty day moving average is $45.50 and its 200 day moving average is $43.95. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. Truist Financial Co. has a one year low of $34.23 and a one year high of $49.06. The firm has a market cap of $62.72 billion, a PE ratio of 14.19, a P/E/G ratio of 1.67 and a beta of 1.08.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The business had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.05 billion. During the same period in the previous year, the business earned $0.81 earnings per share. The business’s revenue was up 3.4% compared to the same quarter last year. On average, research analysts forecast that Truist Financial Co. will post 3.95 EPS for the current year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.40%. Truist Financial’s dividend payout ratio (DPR) is 62.46%.

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.