Truist Financial Co. (NYSE:TFC) Shares Acquired by Laurel Wealth Advisors LLC

Laurel Wealth Advisors LLC increased its position in Truist Financial Co. (NYSE:TFC) by 1.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 55,838 shares of the insurance provider’s stock after purchasing an additional 965 shares during the period. Laurel Wealth Advisors LLC’s holdings in Truist Financial were worth $2,422,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in Truist Financial by 48.7% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,963 shares of the insurance provider’s stock worth $129,000 after buying an additional 971 shares during the last quarter. Park Avenue Securities LLC lifted its stake in Truist Financial by 39.3% during the fourth quarter. Park Avenue Securities LLC now owns 45,361 shares of the insurance provider’s stock worth $1,968,000 after purchasing an additional 12,798 shares during the last quarter. Fifth Third Wealth Advisors LLC boosted its holdings in Truist Financial by 44.6% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 22,104 shares of the insurance provider’s stock worth $959,000 after purchasing an additional 6,813 shares during the period. Pines Wealth Management LLC bought a new stake in Truist Financial during the fourth quarter valued at $718,000. Finally, Mayfair Advisory Group LLC raised its holdings in shares of Truist Financial by 12.8% during the fourth quarter. Mayfair Advisory Group LLC now owns 17,597 shares of the insurance provider’s stock worth $763,000 after purchasing an additional 2,000 shares during the period. 71.28% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related 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 stock was acquired at an average price 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 of the company’s stock, valued at $33,576,860.56. This trade represents a 5.20 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director K. David Jr. Boyer sold 4,966 shares of Truist Financial stock in a transaction dated 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 transaction, the director now directly owns 11,246 shares in the company, valued at $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 company insiders.

Wall Street Analysts Forecast Growth

TFC has been the subject of several research reports. StockNews.com lowered shares of Truist Financial from a “hold” rating to a “sell” rating in a report on Thursday, January 9th. Royal Bank of Canada increased their price target on Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Stephens restated an “overweight” rating and set a $54.00 price objective on shares of Truist Financial in a research note on Thursday, January 2nd. The Goldman Sachs Group raised their target price on Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Truist Financial from $48.00 to $49.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Truist Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.89.

Truist Financial Stock Up 1.7 %

TFC opened at $43.87 on Wednesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market capitalization of $58.24 billion, a PE ratio of -30.68, a P/E/G ratio of 1.88 and a beta of 1.08. The stock’s fifty day moving average is $45.41 and its 200-day moving average is $43.46. Truist Financial Co. has a one year low of $34.23 and a one year high of $49.06.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Thursday, October 17th. The insurance provider reported $0.97 EPS for the quarter, topping the consensus estimate of $0.89 by $0.08. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. The firm had revenue of $5.09 billion for the quarter, compared to analysts’ expectations of $5.05 billion. On average, equities analysts predict that Truist Financial Co. will post 3.7 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 8th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.74%. The ex-dividend date was Friday, November 8th. Truist Financial’s payout ratio is -145.45%.

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.