Pine Valley Investments Ltd Liability Co Increases Stock Holdings in Truist Financial Co. (NYSE:TFC)

Pine Valley Investments Ltd Liability Co boosted its stake in Truist Financial Co. (NYSE:TFC) by 6.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 17,727 shares of the insurance provider’s stock after buying an additional 1,137 shares during the quarter. Pine Valley Investments Ltd Liability Co’s holdings in Truist Financial were worth $769,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. State Street Corp raised its holdings in shares of Truist Financial by 4.6% in the third quarter. State Street Corp now owns 61,864,957 shares of the insurance provider’s stock valued at $2,645,964,000 after purchasing an additional 2,720,223 shares during the last quarter. KBC Group NV increased its stake in Truist Financial by 96.9% in the 4th quarter. KBC Group NV now owns 2,031,893 shares of the insurance provider’s stock valued at $88,144,000 after buying an additional 999,763 shares during the last quarter. HighTower Advisors LLC lifted its position in shares of Truist Financial by 26.1% during the 3rd quarter. HighTower Advisors LLC now owns 3,901,891 shares of the insurance provider’s stock worth $166,892,000 after buying an additional 807,648 shares in the last quarter. LPL Financial LLC boosted its stake in shares of Truist Financial by 21.0% in the 3rd quarter. LPL Financial LLC now owns 3,630,761 shares of the insurance provider’s stock worth $155,288,000 after buying an additional 630,628 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec purchased a new position in shares of Truist Financial in the 3rd quarter worth approximately $26,087,000. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Stock Performance

Truist Financial stock opened at $45.26 on Thursday. The firm’s 50 day simple moving average is $45.65 and its 200 day simple moving average is $44.57. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. Truist Financial Co. has a 1-year low of $34.51 and a 1-year high of $49.06. The firm has a market capitalization of $60.08 billion, a PE ratio of 13.59, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data 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. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The company had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.05 billion. During the same quarter last year, the business posted $0.81 earnings per share. The firm’s revenue was up 3.4% compared to the same quarter last year. As a group, analysts expect that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.60%. The ex-dividend date is Friday, February 14th. Truist Financial’s payout ratio is 62.46%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. 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 report on Tuesday, January 21st. Compass Point lifted their target price on Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. HSBC upgraded shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research report on Tuesday, January 7th. Stephens lifted their price objective on shares of Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Finally, Keefe, Bruyette & Woods increased their target price on shares of Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a research report on Tuesday, January 21st. Eleven 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’s stock. Based on data from MarketBeat.com, Truist Financial presently has an average rating of “Moderate Buy” and a consensus target price of $50.79.

Insider Activity at Truist Financial

In other Truist Financial news, Director K. David Jr. Boyer sold 4,966 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total transaction of $229,429.20. Following the sale, the director now owns 11,246 shares in the company, valued at $519,565.20. This trade represents a 30.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.17% of the stock is currently owned by insiders.

About Truist Financial

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.