Truist Financial Co. (NYSE:TFC) Position Boosted by Ferguson Wellman Capital Management Inc.

Ferguson Wellman Capital Management Inc. increased its holdings in Truist Financial Co. (NYSE:TFC) by 5.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,452 shares of the insurance provider’s stock after buying an additional 294 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in Truist Financial were worth $237,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Savant Capital LLC lifted its position in Truist Financial by 22.3% in the fourth quarter. Savant Capital LLC now owns 73,966 shares of the insurance provider’s stock worth $3,209,000 after purchasing an additional 13,482 shares during the period. HTLF Bank acquired a new stake in Truist Financial in the fourth quarter worth approximately $200,000. Newbridge Financial Services Group Inc. lifted its position in Truist Financial by 785.1% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 4,452 shares of the insurance provider’s stock worth $193,000 after purchasing an additional 3,949 shares during the period. Kestra Private Wealth Services LLC lifted its position in Truist Financial by 6.2% in the fourth quarter. Kestra Private Wealth Services LLC now owns 81,324 shares of the insurance provider’s stock worth $3,528,000 after purchasing an additional 4,725 shares during the period. Finally, Kingsview Wealth Management LLC lifted its position in Truist Financial by 0.6% in the fourth quarter. Kingsview Wealth Management LLC now owns 155,289 shares of the insurance provider’s stock worth $6,736,000 after purchasing an additional 947 shares during the period. 71.28% of the stock is owned by institutional investors.

Truist Financial Price Performance

Shares of NYSE:TFC opened at $47.15 on Tuesday. 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 $34.23 and a 1 year high of $49.06. The business has a fifty day simple moving average of $45.53 and a 200 day simple moving average of $44.26. The firm has a market cap of $62.60 billion, a price-to-earnings ratio of 14.16, a P/E/G ratio of 1.69 and a beta of 1.08.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data 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. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The business had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.05 billion. During the same period last year, the company earned $0.81 earnings per share. Truist Financial’s quarterly revenue was up 3.4% compared to the same quarter last year. As a group, sell-side analysts predict that Truist Financial Co. will post 3.98 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.08 annualized dividend and a yield of 4.41%. Truist Financial’s dividend payout ratio (DPR) is currently 62.46%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on TFC shares. Morgan Stanley upped their target price 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. Raymond James increased their price objective on Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Royal Bank of Canada increased their price objective on Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Compass Point increased their price objective on Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Finally, Keefe, Bruyette & Woods increased their price objective on Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a research report on Tuesday, January 21st. Eleven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $50.79.

Insider Buying and Selling 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 transaction, the director now directly 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William H. Rogers, Jr. bought 34,180 shares of the business’s stock in a transaction on Monday, November 25th. The shares were bought at an average price 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 of the company’s stock, valued at approximately $33,576,860.56. This represents a 5.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.17% of the company’s stock.

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.