GHP Investment Advisors Inc. Raises Stock Position in Truist Financial Co. (NYSE:TFC)

GHP Investment Advisors Inc. grew its stake in shares of Truist Financial Co. (NYSE:TFC) by 4.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 43,733 shares of the insurance provider’s stock after acquiring an additional 1,999 shares during the period. GHP Investment Advisors Inc.’s holdings in Truist Financial were worth $1,897,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Bangor Savings Bank raised its position in 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 purchasing an additional 272 shares in the last quarter. Valley Wealth Managers Inc. purchased a new position in shares of Truist Financial during the third quarter valued at $26,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Truist Financial in the third quarter valued at about $32,000. Fortitude Family Office LLC lifted its stake in Truist Financial by 376.7% in the third quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock worth $37,000 after acquiring an additional 678 shares during the period. Finally, Ashton Thomas Securities LLC bought a new position in Truist Financial during the 3rd quarter worth about $45,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Trading Up 1.0 %

Shares of Truist Financial stock opened at $48.14 on Friday. Truist Financial Co. has a 12-month low of $34.23 and a 12-month high of $49.06. The firm’s 50 day simple moving average is $45.52 and its two-hundred day simple moving average is $44.20. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $63.90 billion, a price-to-earnings ratio of 14.46, a PEG ratio of 1.69 and a beta of 1.08.

Truist Financial (NYSE:TFC) last issued its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping 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 return on equity of 9.32% and a net margin of 15.59%. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the business posted $0.81 EPS. Analysts predict that Truist Financial Co. will post 3.95 EPS for the current year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.08 annualized dividend and a yield of 4.32%. Truist Financial’s dividend payout ratio (DPR) is presently 62.46%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on TFC shares. Morgan Stanley boosted their price target on shares of Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. Raymond James boosted their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Stephens increased their target price on Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Keefe, Bruyette & Woods boosted their price target on Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 21st. Finally, The Goldman Sachs Group raised their price objective on Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Eleven equities research 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 data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.79.

Insiders Place Their Bets

In related news, CEO William H. Rogers, Jr. bought 34,180 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were purchased at an average cost of $48.56 per share, with a total value of $1,659,780.80. Following the completion of the acquisition, the chief executive officer now directly owns 691,451 shares in the company, valued at approximately $33,576,860.56. The trade was a 5.20 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director K. David Jr. Boyer sold 4,966 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total value 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 represents a 30.63 % decrease in their position. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by insiders.

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.