Bray Capital Advisors Sells 1,202 Shares of Truist Financial Co. (NYSE:TFC)

Bray Capital Advisors decreased its holdings in shares of Truist Financial Co. (NYSE:TFC) by 3.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 34,929 shares of the insurance provider’s stock after selling 1,202 shares during the period. Bray Capital Advisors’ holdings in Truist Financial were worth $1,515,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in 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 during the period. PBMares Wealth Management LLC lifted its stake in Truist Financial by 0.8% during the fourth quarter. PBMares Wealth Management LLC now owns 29,270 shares of the insurance provider’s stock worth $1,270,000 after purchasing an additional 224 shares during the last quarter. Koshinski Asset Management Inc. lifted its stake in Truist Financial by 2.1% during the fourth quarter. Koshinski Asset Management Inc. now owns 10,825 shares of the insurance provider’s stock worth $470,000 after purchasing an additional 225 shares during the last quarter. Aaron Wealth Advisors LLC lifted its stake in Truist Financial by 3.0% during the fourth quarter. Aaron Wealth Advisors LLC now owns 7,712 shares of the insurance provider’s stock worth $335,000 after purchasing an additional 227 shares during the last quarter. Finally, Ignite Planners LLC lifted its stake in Truist Financial by 1.4% during the fourth quarter. Ignite Planners LLC now owns 17,499 shares of the insurance provider’s stock worth $772,000 after purchasing an additional 246 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Truist Financial Price Performance

Shares of TFC opened at $46.67 on Friday. The firm has a market cap of $61.96 billion, a PE ratio of 14.02, a P/E/G ratio of 1.66 and a beta of 1.08. 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 fifty day simple moving average of $45.61 and a two-hundred day simple moving average of $44.44. Truist Financial Co. has a 1-year low of $34.26 and a 1-year high of $49.06.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 earnings per share 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 firm had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5.05 billion. During the same period in the previous year, the firm earned $0.81 EPS. The business’s quarterly revenue was up 3.4% on a year-over-year basis. On average, equities analysts anticipate that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.46%. Truist Financial’s payout ratio is currently 62.46%.

Insider Activity

In related news, Director K. David Jr. Boyer sold 4,966 shares of the business’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 transaction, the director now directly owns 11,246 shares of the company’s stock, valued at approximately $519,565.20. The trade was a 30.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William H. Rogers, Jr. purchased 34,180 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was acquired at an average cost of $48.56 per share, for a total transaction of $1,659,780.80. Following the completion of the acquisition, 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 position. The disclosure for this purchase can be found here. Insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

TFC has been the subject of several research analyst reports. The Goldman Sachs Group lifted their price target on Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Raymond James lifted their price target on Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Morgan Stanley lifted their price target on Truist Financial from $55.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 21st. Compass Point lifted their price target on Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Finally, Barclays lifted their price objective on Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Eleven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $50.79.

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.