Perigon Wealth Management LLC Grows Position in Truist Financial Co. (NYSE:TFC)

Perigon Wealth Management LLC boosted its stake in shares of Truist Financial Co. (NYSE:TFC) by 8.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,392 shares of the insurance provider’s stock after buying an additional 625 shares during the quarter. Perigon Wealth Management LLC’s holdings in Truist Financial were worth $310,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Fairfield Bush & CO. bought a new stake in shares of Truist Financial in the 1st quarter valued at about $25,000. United Bank raised its holdings in shares of Truist Financial by 4.1% in the 1st quarter. United Bank now owns 74,457 shares of the insurance provider’s stock valued at $4,222,000 after purchasing an additional 2,938 shares in the last quarter. Panagora Asset Management Inc. raised its holdings in shares of Truist Financial by 33.3% in the 1st quarter. Panagora Asset Management Inc. now owns 26,365 shares of the insurance provider’s stock valued at $1,495,000 after purchasing an additional 6,593 shares in the last quarter. Vontobel Holding Ltd. raised its holdings in shares of Truist Financial by 3.3% in the 1st quarter. Vontobel Holding Ltd. now owns 22,951 shares of the insurance provider’s stock valued at $1,348,000 after purchasing an additional 738 shares in the last quarter. Finally, Blair William & Co. IL raised its holdings in shares of Truist Financial by 8.1% in the 1st quarter. Blair William & Co. IL now owns 56,690 shares of the insurance provider’s stock valued at $3,214,000 after purchasing an additional 4,234 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Insider Activity

In other news, Director K. David Jr. Boyer sold 3,764 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $37.48, for a total value of $141,074.72. Following the sale, the director now directly owns 16,132 shares of the company’s stock, valued at approximately $604,627.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

TFC has been the subject of several recent analyst reports. StockNews.com lowered shares of Truist Financial from a “hold” rating to a “sell” rating in a research note on Thursday, March 28th. Keefe, Bruyette & Woods boosted their price objective on shares of Truist Financial from $44.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, April 5th. Stephens upgraded shares of Truist Financial from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $41.00 to $43.00 in a research note on Tuesday, March 19th. Raymond James boosted their price objective on shares of Truist Financial from $34.00 to $41.00 and gave the stock an “outperform” rating in a research note on Friday, January 5th. Finally, HSBC boosted their price objective on shares of Truist Financial from $37.00 to $39.00 and gave the stock a “hold” rating in a research note on Thursday, March 28th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $41.47.

Truist Financial Trading Down 2.9 %

NYSE:TFC opened at $35.63 on Wednesday. The company’s 50 day moving average is $36.62 and its two-hundred day moving average is $34.36. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.82 and a quick ratio of 0.82. Truist Financial Co. has a twelve month low of $25.56 and a twelve month high of $39.29.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Thursday, January 18th. The insurance provider reported $0.81 EPS for the quarter, beating the consensus estimate of $0.68 by $0.13. The business had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.70 billion. Truist Financial had a negative net margin of 3.28% and a positive return on equity of 9.64%. During the same period in the prior year, the firm earned $1.30 EPS. On average, sell-side analysts expect that Truist Financial Co. will post 3.33 EPS for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 9th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 5.84%. The ex-dividend date of this dividend was Thursday, February 8th. Truist Financial’s dividend payout ratio (DPR) is currently -192.59%.

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.