Franklin Street Advisors Inc. NC Increases Stock Holdings in Truist Financial Co. (NYSE:TFC)

Franklin Street Advisors Inc. NC raised its position in shares of Truist Financial Co. (NYSE:TFCFree Report) by 12.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 10,957 shares of the insurance provider’s stock after acquiring an additional 1,200 shares during the quarter. Franklin Street Advisors Inc. NC’s holdings in Truist Financial were worth $475,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of TFC. Victory Capital Management Inc. raised its stake in shares of Truist Financial by 10.9% in the 2nd quarter. Victory Capital Management Inc. now owns 457,653 shares of the insurance provider’s stock valued at $17,780,000 after acquiring an additional 44,800 shares during the period. Private Advisor Group LLC increased its holdings in Truist Financial by 1.2% during the 2nd quarter. Private Advisor Group LLC now owns 74,756 shares of the insurance provider’s stock worth $2,904,000 after purchasing an additional 916 shares during the period. Acadian Asset Management LLC acquired a new stake in Truist Financial in the 2nd quarter valued at about $1,111,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Truist Financial during the second quarter worth about $89,000. Finally, Wedbush Securities Inc. increased its stake in shares of Truist Financial by 4.4% during the second quarter. Wedbush Securities Inc. now owns 8,414 shares of the insurance provider’s stock worth $327,000 after buying an additional 353 shares during the period. 71.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on TFC shares. Stephens reaffirmed an “overweight” rating and set a $54.00 price objective on shares of Truist Financial in a research report on Thursday, January 2nd. Royal Bank of Canada boosted their target price on Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Citigroup raised their price target on Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a research note on Monday, November 25th. StockNews.com downgraded Truist Financial from a “hold” rating to a “sell” rating in a report on Thursday. Finally, Piper Sandler lifted their target price on shares of Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Truist Financial has an average rating of “Moderate Buy” and an average price target of $49.89.

Read Our Latest Analysis on Truist Financial

Truist Financial Price Performance

Truist Financial stock traded down $1.20 during trading hours on Friday, hitting $42.75. The stock had a trading volume of 2,694,945 shares, compared to its average volume of 5,278,174. 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 0.62, a current ratio of 0.85 and a quick ratio of 0.85. The stock’s fifty day moving average is $45.36 and its two-hundred day moving average is $43.26. The stock has a market capitalization of $56.75 billion, a price-to-earnings ratio of -29.90, a PEG ratio of 1.88 and a beta of 1.08.

Truist Financial (NYSE:TFCGet Free Report) last issued its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.08. The business had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. As a group, analysts predict that Truist Financial Co. will post 3.7 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 8th were paid a dividend of $0.52 per share. The ex-dividend date was Friday, November 8th. This represents a $2.08 annualized dividend and a dividend yield of 4.87%. Truist Financial’s dividend payout ratio is currently -145.45%.

Insider Transactions at Truist Financial

In related news, CEO William H. Rogers, Jr. purchased 34,180 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was purchased 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 owns 691,451 shares of the company’s stock, valued at approximately $33,576,860.56. This trade represents a 5.20 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director K. David Jr. Boyer sold 4,966 shares of Truist Financial 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 transaction, 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. Insiders own 0.17% of the company’s stock.

Truist Financial Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Truist Financial (NYSE:TFC)

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