Chicago Capital LLC Makes New $220,000 Investment in Truist Financial Co. (NYSE:TFC)

Chicago Capital LLC bought a new stake in Truist Financial Co. (NYSE:TFC) during the 4th quarter, Holdings Channel reports. The firm bought 5,068 shares of the insurance provider’s stock, valued at approximately $220,000.

A number of other large investors also recently made changes to their positions in the company. Bangor Savings Bank grew its stake in shares of Truist Financial by 92.5% in the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock valued at $25,000 after acquiring an additional 272 shares in the last quarter. Valley Wealth Managers Inc. bought a new stake in Truist Financial in the 3rd quarter valued at about $26,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Truist Financial during the 3rd quarter worth approximately $32,000. Fortitude Family Office LLC increased its holdings in shares of Truist Financial by 376.7% during 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 period. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of Truist Financial in the third quarter valued at approximately $45,000. Institutional investors own 71.28% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on TFC. Morgan Stanley raised their price objective on Truist Financial from $55.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 21st. StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. UBS Group upped their price objective on shares of Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Royal Bank of Canada boosted their target price on shares of Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Finally, Wells Fargo & Company increased their price target on shares of Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Eleven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $50.79.

Insider Buying and Selling at Truist Financial

In other news, CEO William H. Rogers, Jr. bought 34,180 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were acquired at an average price of $48.56 per share, for a total transaction of $1,659,780.80. Following the completion of the acquisition, the chief executive officer now directly owns 691,451 shares in the company, valued at approximately $33,576,860.56. This represents a 5.20 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director K. David Jr. Boyer sold 4,966 shares of the stock in a transaction dated 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 owns 11,246 shares of the company’s stock, 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. Corporate insiders own 0.17% of the company’s stock.

Truist Financial Stock Performance

Truist Financial stock opened at $46.92 on Tuesday. The business has a 50 day moving average of $45.55 and a 200-day moving average of $44.11. The company has a market capitalization of $62.29 billion, a P/E ratio of 14.09, a P/E/G ratio of 1.69 and a beta of 1.08. Truist Financial Co. has a 1 year low of $34.23 and a 1 year high of $49.06. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83.

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

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.43%. The ex-dividend date of this dividend is Friday, February 14th. Truist Financial’s payout ratio is presently 62.46%.

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.