Fulton Bank N.A. Grows Holdings in Truist Financial Co. (NYSE:TFC)

Fulton Bank N.A. grew its stake in shares of Truist Financial Co. (NYSE:TFC) by 3.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 61,183 shares of the insurance provider’s stock after acquiring an additional 1,771 shares during the period. Fulton Bank N.A.’s holdings in Truist Financial were worth $2,654,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC purchased a new stake in shares of Truist Financial during the 4th quarter valued at $1,184,000. Bangor Savings Bank increased 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 worth $25,000 after acquiring an additional 272 shares during the period. Neville Rodie & Shaw Inc. raised its stake in shares of Truist Financial by 17.9% during the 4th quarter. Neville Rodie & Shaw Inc. now owns 37,468 shares of the insurance provider’s stock valued at $1,626,000 after buying an additional 5,695 shares during the last quarter. CWA Asset Management Group LLC boosted its position in Truist Financial by 9.5% in the 4th quarter. CWA Asset Management Group LLC now owns 49,000 shares of the insurance provider’s stock worth $2,126,000 after purchasing an additional 4,267 shares in the last quarter. Finally, First City Capital Management Inc. increased its holdings in Truist Financial by 3.6% in the fourth quarter. First City Capital Management Inc. now owns 15,101 shares of the insurance provider’s stock valued at $655,000 after buying an additional 520 shares in the last quarter. 71.28% of the stock is owned by institutional investors.

Truist Financial Price Performance

Shares of NYSE:TFC traded up $0.02 on Wednesday, reaching $43.99. 2,496,789 shares of the company traded hands, compared to its average volume of 5,178,132. Truist Financial Co. has a fifty-two week low of $34.23 and a fifty-two week high of $49.06. The stock has a market capitalization of $58.40 billion, a PE ratio of -30.76, a P/E/G ratio of 1.88 and a beta of 1.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.85 and a quick ratio of 0.85. The company’s 50 day moving average is $45.33 and its 200-day moving average is $43.25.

Truist Financial (NYSE:TFC) last released its earnings results on Thursday, October 17th. The insurance provider reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.08. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. The company had revenue of $5.09 billion for the quarter, compared to analysts’ expectations of $5.05 billion. As a group, analysts anticipate that Truist Financial Co. will post 3.7 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 8th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.73%. The ex-dividend date of this dividend was Friday, November 8th. Truist Financial’s dividend payout ratio is currently -145.45%.

Insider Buying and Selling 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 stock was sold at an average price of $46.20, for a total value of $229,429.20. Following the completion of the transaction, the director now directly owns 11,246 shares of the company’s stock, valued at approximately $519,565.20. This represents a 30.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO William H. Rogers, Jr. purchased 34,180 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were purchased at an average cost of $48.56 per share, with a total value 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 $33,576,860.56. The trade was a 5.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, October 18th. HSBC raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research note on Tuesday. Royal Bank of Canada raised their price objective on Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Wells Fargo & Company boosted their target price on Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Finally, UBS Group lifted their price objective on shares of Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a report on Friday, October 18th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $49.89.

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.