Valley National Advisers Inc. Increases Stake in Truist Financial Co. (NYSE:TFC)

Valley National Advisers Inc. increased its position in shares of Truist Financial Co. (NYSE:TFC) by 6.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,721 shares of the insurance provider’s stock after buying an additional 604 shares during the period. Valley National Advisers Inc.’s holdings in Truist Financial were worth $421,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. State Street Corp raised its holdings in shares of Truist Financial by 4.6% in the 3rd quarter. State Street Corp now owns 61,864,957 shares of the insurance provider’s stock valued at $2,645,964,000 after purchasing an additional 2,720,223 shares in the last quarter. Geode Capital Management LLC increased its holdings in Truist Financial by 1.7% in the third quarter. Geode Capital Management LLC now owns 27,440,951 shares of the insurance provider’s stock valued at $1,169,350,000 after buying an additional 456,412 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Truist Financial by 3.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,431,037 shares of the insurance provider’s stock valued at $403,365,000 after buying an additional 288,306 shares during the last quarter. FMR LLC raised its stake in Truist Financial by 10.6% in the third quarter. FMR LLC now owns 5,003,106 shares of the insurance provider’s stock valued at $213,983,000 after buying an additional 478,886 shares in the last quarter. Finally, HighTower Advisors LLC lifted its holdings in Truist Financial by 26.1% during the 3rd quarter. HighTower Advisors LLC now owns 3,901,891 shares of the insurance provider’s stock worth $166,892,000 after buying an additional 807,648 shares during the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Truist Financial Stock Performance

Shares of TFC opened at $47.64 on Monday. The stock has a market capitalization of $63.24 billion, a P/E ratio of 14.31, a P/E/G ratio of 1.69 and a beta of 1.08. 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 1 year low of $34.23 and a 1 year high of $49.06. The company’s fifty day moving average is $45.55 and its two-hundred day moving average is $44.10.

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

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be issued a $0.52 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.08 annualized dividend and a dividend yield of 4.37%. Truist Financial’s dividend payout ratio is currently 62.46%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Keefe, Bruyette & Woods raised their target price on Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 21st. Raymond James raised their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Royal Bank of Canada upped their target price on shares of Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Compass Point increased their target price on shares of Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Finally, StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. Eleven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $50.79.

Insider Activity at Truist Financial

In other news, Director K. David Jr. Boyer sold 4,966 shares of Truist Financial stock in a transaction that occurred on Wednesday, December 4th. The shares were 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. This trade represents a 30.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William H. Rogers, Jr. purchased 34,180 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was purchased at an average price of $48.56 per share, for a total transaction of $1,659,780.80. Following the acquisition, the chief executive officer now owns 691,451 shares in the company, valued at approximately $33,576,860.56. This trade represents a 5.20 % increase in their ownership of the stock. The disclosure for this purchase 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.