Crews Bank & Trust Makes New $1.68 Million Investment in Truist Financial Co. (NYSE:TFC)

Crews Bank & Trust purchased a new stake in shares of Truist Financial Co. (NYSE:TFC) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 38,656 shares of the insurance provider’s stock, valued at approximately $1,677,000.

A number of other hedge funds have also modified their holdings of the stock. Capital Investment Advisory Services LLC raised its position in Truist Financial by 0.7% during the fourth quarter. Capital Investment Advisory Services LLC now owns 250,434 shares of the insurance provider’s stock valued at $10,864,000 after acquiring an additional 1,832 shares in the last quarter. Foster & Motley Inc. increased its stake in shares of Truist Financial by 45.4% during the 4th quarter. Foster & Motley Inc. now owns 16,051 shares of the insurance provider’s stock worth $696,000 after purchasing an additional 5,014 shares during the last quarter. Ibex Wealth Advisors raised its holdings in shares of Truist Financial by 842.2% during the 4th quarter. Ibex Wealth Advisors now owns 175,781 shares of the insurance provider’s stock valued at $7,625,000 after purchasing an additional 157,125 shares in the last quarter. BSW Wealth Partners lifted its stake in shares of Truist Financial by 6.6% in the 4th quarter. BSW Wealth Partners now owns 11,047 shares of the insurance provider’s stock valued at $479,000 after purchasing an additional 682 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC boosted its holdings in Truist Financial by 5.0% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 15,824 shares of the insurance provider’s stock worth $686,000 after purchasing an additional 750 shares in the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Truist Financial

In other Truist Financial news, CEO William H. Rogers, Jr. purchased 34,180 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were acquired at an average cost of $48.56 per share, for a total transaction of $1,659,780.80. Following the transaction, 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 filing with the SEC, which is available through this link. 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 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 approximately $519,565.20. The trade was a 30.63 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Morgan Stanley boosted their price target on Truist Financial from $55.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. JPMorgan Chase & Co. upped their target price on Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. HSBC raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods upped their price objective on shares of Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” rating in a report on Tuesday, January 21st. Finally, StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, January 17th. Eleven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Truist Financial presently has an average rating of “Moderate Buy” and an average price target of $50.79.

Truist Financial Stock Up 0.4 %

Shares of TFC stock opened at $47.44 on Thursday. The stock has a market cap of $62.98 billion, a P/E ratio of 14.25, a price-to-earnings-growth ratio of 1.67 and a beta of 1.08. 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 stock has a fifty day moving average price of $45.51 and a 200 day moving average price of $44.00. Truist Financial Co. has a one year low of $34.23 and a one year high of $49.06.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.03. The firm 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 company’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.81 earnings per share. Analysts predict that Truist Financial Co. will post 3.95 earnings per share for the current year.

Truist Financial Announces Dividend

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 paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.38%. The ex-dividend date of this dividend is Friday, February 14th. Truist Financial’s dividend payout ratio is 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.