Truist Financial Co. (NYSE:TFC) Stock Position Raised by Patton Albertson Miller Group LLC

Patton Albertson Miller Group LLC raised its stake in Truist Financial Co. (NYSE:TFC) by 8.6% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 30,104 shares of the insurance provider’s stock after buying an additional 2,385 shares during the quarter. Patton Albertson Miller Group LLC’s holdings in Truist Financial were worth $1,306,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Truist Financial by 48.7% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,963 shares of the insurance provider’s stock valued at $129,000 after purchasing an additional 971 shares during the period. Principal Financial Group Inc. lifted its position in shares of Truist Financial by 3.5% during the 3rd quarter. Principal Financial Group Inc. now owns 1,511,299 shares of the insurance provider’s stock valued at $64,638,000 after acquiring an additional 50,637 shares during the last quarter. Cadence Bank boosted its position in shares of Truist Financial by 101.6% in the 3rd quarter. Cadence Bank now owns 185,184 shares of the insurance provider’s stock valued at $7,920,000 after purchasing an additional 93,322 shares during the period. Boston Common Asset Management LLC increased its stake in Truist Financial by 66.4% in the 3rd quarter. Boston Common Asset Management LLC now owns 154,523 shares of the insurance provider’s stock worth $6,609,000 after purchasing an additional 61,683 shares in the last quarter. Finally, Independent Advisor Alliance raised its holdings in Truist Financial by 10.7% during the 3rd quarter. Independent Advisor Alliance now owns 282,607 shares of the insurance provider’s stock worth $12,087,000 after buying an additional 27,408 shares during the period. 71.28% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on TFC shares. Wells Fargo & Company lifted their price objective 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. HSBC upgraded Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a report on Tuesday, January 7th. StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. Keefe, Bruyette & Woods lifted their target price on Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a research note on Tuesday, January 21st. Finally, Morgan Stanley increased their price target on shares of Truist Financial from $55.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. Eleven equities research 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’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $50.79.

Insider Transactions at Truist Financial

In other Truist Financial news, CEO William H. Rogers, Jr. purchased 34,180 shares of the company’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 $33,576,860.56. This trade represents a 5.20 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director K. David Jr. Boyer sold 4,966 shares of the business’s 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 completion of the transaction, the director now owns 11,246 shares of the company’s stock, valued at $519,565.20. This represents a 30.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.17% of the company’s stock.

Truist Financial Stock Up 0.4 %

Shares of Truist Financial stock opened at $46.96 on Friday. Truist Financial Co. has a 12 month low of $34.23 and a 12 month high of $49.06. The business has a fifty day simple moving average of $45.48 and a 200 day simple moving average of $43.83. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. The stock has a market cap of $62.34 billion, a PE ratio of 14.10, a price-to-earnings-growth ratio of 1.67 and a beta of 1.08.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The company had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5,047,370 billion. During the same period in the prior year, the business posted $0.81 EPS. Truist Financial’s revenue was up 3.4% on a year-over-year basis. Research analysts predict that Truist Financial Co. will post 3.95 EPS for the current year.

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.