Pinnacle Financial Partners Inc Boosts Holdings in Truist Financial Co. (NYSE:TFC)

Pinnacle Financial Partners Inc boosted its position in shares of Truist Financial Co. (NYSE:TFC) by 26.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 86,646 shares of the insurance provider’s stock after acquiring an additional 17,997 shares during the period. Pinnacle Financial Partners Inc’s holdings in Truist Financial were worth $3,758,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bangor Savings Bank lifted its position in Truist Financial by 92.5% during 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 during the last quarter. Valley Wealth Managers Inc. purchased a new stake in Truist Financial during the third quarter valued at approximately $26,000. MidAtlantic Capital Management Inc. purchased a new stake in Truist Financial during the third quarter valued at approximately $32,000. Fortitude Family Office LLC lifted its position in Truist Financial by 376.7% during the third quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock valued at $37,000 after acquiring an additional 678 shares during the last quarter. Finally, Ashton Thomas Securities LLC purchased a new position in shares of Truist Financial in the third quarter worth $45,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Insider Activity at Truist Financial

In related news, CEO William H. Rogers, Jr. bought 34,180 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 691,451 shares in the company, valued at $33,576,860.56. This trade represents a 5.20 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director K. David Jr. Boyer sold 4,966 shares of Truist Financial stock in a transaction dated 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 owns 11,246 shares in the company, valued at approximately $519,565.20. This trade represents a 30.63 % decrease in their position. The disclosure for this sale can be found here. 0.17% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on TFC shares. The Goldman Sachs Group raised their price target on shares of Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Stephens raised their price target on shares of Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Compass Point raised their price target on shares of Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, January 17th. Finally, Citigroup raised their price target on shares of Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a report on Monday, November 25th. Eleven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $50.79.

Truist Financial Stock Down 2.1 %

TFC stock opened at $45.67 on Friday. The firm has a market cap of $60.62 billion, a PE ratio of 13.71, a P/E/G ratio of 1.63 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. The firm’s fifty day moving average is $45.61 and its 200 day moving average is $44.49. Truist Financial Co. has a one year low of $34.26 and a one year high of $49.06.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.88 by $0.03. The company 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 firm’s revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the business earned $0.81 earnings per share. On average, research 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. Investors of record on Friday, February 14th will be given 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 yield of 4.55%. Truist Financial’s dividend 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.