Jones Financial Companies Lllp Boosts Position in Truist Financial Co. (NYSE:TFC)

Jones Financial Companies Lllp increased its holdings in Truist Financial Co. (NYSE:TFC) by 38.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 838,890 shares of the insurance provider’s stock after acquiring an additional 231,288 shares during the quarter. Jones Financial Companies Lllp owned about 0.06% of Truist Financial worth $36,391,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Bangor Savings Bank lifted its position in shares of Truist Financial by 92.5% in the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 272 shares during the period. Valley Wealth Managers Inc. bought a new position in Truist Financial in the third quarter worth about $26,000. MidAtlantic Capital Management Inc. purchased a new stake in Truist Financial in the third quarter worth about $32,000. Ashton Thomas Securities LLC bought a new stake in Truist Financial during the 3rd quarter valued at approximately $45,000. Finally, True Wealth Design LLC purchased a new position in shares of Truist Financial during the 3rd quarter worth approximately $51,000. Institutional investors own 71.28% of the company’s stock.

Truist Financial Price Performance

NYSE TFC opened at $46.37 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market capitalization of $60.52 billion, a price-to-earnings ratio of 13.92, a PEG ratio of 1.63 and a beta of 1.08. The stock has a 50-day moving average of $45.78 and a 200 day moving average of $44.64. Truist Financial Co. has a one year low of $34.51 and a one year high of $49.06.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.03. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The firm 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 company earned $0.81 earnings per share. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. On average, sell-side analysts forecast that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Announces Dividend

The company 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 dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.08 annualized dividend and a dividend yield of 4.49%. Truist Financial’s payout ratio is 62.46%.

Insider Transactions at Truist Financial

In other news, Director K. David Jr. Boyer sold 4,966 shares of the stock in a transaction that occurred 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 transaction, the director now owns 11,246 shares in the company, valued at $519,565.20. This represents a 30.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

TFC has been the subject of a number of research analyst reports. Stephens raised their target price on Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Keefe, Bruyette & Woods raised their price objective on Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a research report on Tuesday, January 21st. StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. Morgan Stanley raised their target price on shares of Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. Finally, Compass Point boosted their price target on Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Eleven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $50.79.

Truist Financial Profile

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.