Truist Financial Co. (NYSE:TFC) Shares Purchased by First City Capital Management Inc.

First City Capital Management Inc. lifted its holdings in Truist Financial Co. (NYSE:TFC) by 3.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,101 shares of the insurance provider’s stock after purchasing an additional 520 shares during the quarter. First City Capital Management Inc.’s holdings in Truist Financial were worth $655,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Tradewinds LLC. boosted its stake in Truist Financial by 0.5% during the third quarter. Tradewinds LLC. now owns 44,513 shares of the insurance provider’s stock valued at $1,904,000 after buying an additional 222 shares in the last quarter. Burkett Financial Services LLC boosted its position in shares of Truist Financial by 26.8% during the 3rd quarter. Burkett Financial Services LLC now owns 1,198 shares of the insurance provider’s stock valued at $51,000 after purchasing an additional 253 shares in the last quarter. Prime Capital Investment Advisors LLC raised its holdings in shares of Truist Financial by 2.7% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 10,399 shares of the insurance provider’s stock worth $445,000 after purchasing an additional 270 shares in the last quarter. Coldstream Capital Management Inc. lifted its stake in Truist Financial by 1.5% during the second quarter. Coldstream Capital Management Inc. now owns 18,593 shares of the insurance provider’s stock valued at $722,000 after purchasing an additional 274 shares during the last quarter. Finally, Meridian Wealth Management LLC increased its holdings in shares of Truist Financial by 1.3% in the third quarter. Meridian Wealth Management LLC now owns 21,733 shares of the insurance provider’s stock valued at $930,000 after buying an additional 280 shares in the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Price Performance

Truist Financial stock traded up $0.53 during trading hours on Friday, hitting $43.86. 2,507,274 shares of the stock were exchanged, compared to its average volume of 3,737,206. Truist Financial Co. has a 12 month low of $34.23 and a 12 month high of $49.06. The business’s 50-day moving average is $45.27 and its two-hundred day moving average is $43.00. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market capitalization of $58.23 billion, a P/E ratio of -30.67, a P/E/G ratio of 1.88 and a beta of 1.06.

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

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 8th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.74%. The ex-dividend date of this dividend was Friday, November 8th. Truist Financial’s payout ratio is presently -145.45%.

Insider Transactions at Truist Financial

In other Truist Financial news, Director K. David Jr. Boyer sold 4,966 shares of the company’s stock in a transaction on 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. The trade was a 30.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William H. Rogers, Jr. bought 34,180 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were bought at an average price of $48.56 per share, with a total value 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 approximately $33,576,860.56. This trade represents a 5.20 % increase in their position. The disclosure for this purchase can be found here. 0.17% of the stock is owned by company insiders.

Analyst Ratings Changes

TFC has been the subject of a number of research reports. Keefe, Bruyette & Woods lifted their target price on shares of Truist Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. raised their price target on Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Compass Point raised their price target on shares of Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Finally, UBS Group raised their price objective on Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Twelve equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Truist Financial currently has a consensus rating of “Hold” and an average price target of $48.74.

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.