Sonora Investment Management Group LLC Buys 4,965 Shares of Truist Financial Co. (NYSE:TFC)

Sonora Investment Management Group LLC boosted its position in Truist Financial Co. (NYSE:TFC) by 1.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 335,203 shares of the insurance provider’s stock after purchasing an additional 4,965 shares during the period. Sonora Investment Management Group LLC’s holdings in Truist Financial were worth $14,541,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Bangor Savings Bank lifted its stake in shares of Truist Financial by 92.5% during the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock valued at $25,000 after buying an additional 272 shares in the last quarter. Valley Wealth Managers Inc. purchased a new position in shares of Truist Financial in the third quarter valued at $26,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Truist Financial during the 3rd quarter valued at $32,000. Fortitude Family Office LLC lifted its holdings in Truist Financial by 376.7% during the 3rd quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 678 shares in the last quarter. Finally, Ashton Thomas Securities LLC bought a new position in Truist Financial in the 3rd quarter worth about $45,000. 71.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. Citigroup upped 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. UBS Group increased their price objective on Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. The Goldman Sachs Group upped their target price on Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, JPMorgan Chase & Co. boosted their price objective on Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Eleven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $50.79.

Insider Buying and Selling

In other Truist Financial news, Director K. David Jr. Boyer sold 4,966 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was 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 of the company’s stock, valued at approximately $519,565.20. This trade represents a 30.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO William H. Rogers, Jr. purchased 34,180 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was acquired at an average price of $48.56 per share, with a total value of $1,659,780.80. Following the completion of the purchase, the chief executive officer now owns 691,451 shares in the company, valued at $33,576,860.56. This represents a 5.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.17% of the stock is owned by insiders.

Truist Financial Price Performance

Shares of Truist Financial stock opened at $48.02 on Friday. The stock has a market capitalization of $63.75 billion, a P/E ratio of 14.42, a price-to-earnings-growth ratio of 1.68 and a beta of 1.08. Truist Financial Co. has a one year low of $34.23 and a one year high of $49.06. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. The business’s 50 day simple moving average is $45.53 and its two-hundred day simple moving average is $44.02.

Truist Financial (NYSE:TFC) last posted 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. The company had revenue of $5.11 billion during 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% compared to the same quarter last year. During the same period in the prior year, the business posted $0.81 EPS. Analysts forecast that Truist Financial Co. will post 3.95 EPS for the current year.

Truist Financial Dividend Announcement

The business 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. This represents a $2.08 annualized dividend and a dividend yield of 4.33%. The ex-dividend date is Friday, February 14th. Truist Financial’s dividend payout ratio is currently 62.46%.

Truist Financial Company 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.