Checchi Capital Advisers LLC Increases Stake in Truist Financial Co. (NYSE:TFC)

Checchi Capital Advisers LLC grew its stake in Truist Financial Co. (NYSE:TFC) by 3.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 13,006 shares of the insurance provider’s stock after buying an additional 424 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Truist Financial were worth $564,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Sabal Trust CO acquired a new stake in shares of Truist Financial during the 4th quarter worth about $557,000. Bank of New York Mellon Corp raised its position in shares of Truist Financial by 8.5% during the 4th quarter. Bank of New York Mellon Corp now owns 8,484,992 shares of the insurance provider’s stock worth $368,079,000 after acquiring an additional 662,179 shares in the last quarter. BHK Investment Advisors LLC raised its position in shares of Truist Financial by 1.5% during the 4th quarter. BHK Investment Advisors LLC now owns 29,367 shares of the insurance provider’s stock worth $1,274,000 after acquiring an additional 425 shares in the last quarter. Pine Valley Investments Ltd Liability Co raised its position in shares of Truist Financial by 6.9% during the 4th quarter. Pine Valley Investments Ltd Liability Co now owns 17,727 shares of the insurance provider’s stock worth $769,000 after acquiring an additional 1,137 shares in the last quarter. Finally, BankPlus Trust Department acquired a new stake in shares of Truist Financial during the 4th quarter worth about $1,191,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Trading Up 0.2 %

NYSE:TFC opened at $45.26 on Thursday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. Truist Financial Co. has a 12-month low of $34.51 and a 12-month high of $49.06. The firm has a market cap of $60.08 billion, a P/E ratio of 13.59, a PEG ratio of 1.63 and a beta of 1.08. The stock’s 50 day simple moving average is $45.65 and its 200-day simple moving average is $44.57.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share 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 firm had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.05 billion. During the same period in the previous year, the business earned $0.81 earnings per share. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. Equities analysts anticipate that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be paid a $0.52 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.60%. Truist Financial’s dividend payout ratio (DPR) is presently 62.46%.

Analyst Ratings Changes

Several brokerages have recently weighed in on TFC. Compass Point raised their target price on Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. Stephens lifted their price target on Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Barclays lifted their price target on Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Finally, Piper Sandler lifted their price target on Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Eleven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Truist Financial presently has a consensus rating of “Moderate Buy” and an average target price of $50.79.

Insider Activity at Truist Financial

In related news, Director K. David Jr. Boyer sold 4,966 shares of Truist Financial stock in a transaction that occurred 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 sale, the director now directly owns 11,246 shares in the company, valued at $519,565.20. The trade was a 30.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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.