Truist Financial Co. (NYSE:TFC) Shares Purchased by Cwm LLC

Cwm LLC lifted its holdings in shares of Truist Financial Co. (NYSE:TFC) by 12.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 29,136 shares of the insurance provider’s stock after purchasing an additional 3,264 shares during the quarter. Cwm LLC’s holdings in Truist Financial were worth $1,076,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of TFC. Day & Ennis LLC grew its position in Truist Financial by 4.3% in the 4th quarter. Day & Ennis LLC now owns 7,525 shares of the insurance provider’s stock worth $278,000 after purchasing an additional 311 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA grew its position in Truist Financial by 32.0% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,333 shares of the insurance provider’s stock worth $49,000 after purchasing an additional 323 shares during the last quarter. Cape Investment Advisory Inc. grew its position in Truist Financial by 7.4% in the 3rd quarter. Cape Investment Advisory Inc. now owns 4,849 shares of the insurance provider’s stock worth $139,000 after purchasing an additional 335 shares during the last quarter. Birmingham Capital Management Co. Inc. AL grew its position in Truist Financial by 4.1% in the 3rd quarter. Birmingham Capital Management Co. Inc. AL now owns 8,544 shares of the insurance provider’s stock worth $244,000 after purchasing an additional 335 shares during the last quarter. Finally, Farmers Trust Co. grew its position in Truist Financial by 2.8% in the 4th quarter. Farmers Trust Co. now owns 12,190 shares of the insurance provider’s stock worth $450,000 after purchasing an additional 336 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Barclays upped their target price on shares of Truist Financial from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 2nd. Piper Sandler upped their price target on shares of Truist Financial from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, January 19th. Bank of America raised shares of Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 price target for the company in a research note on Thursday, January 4th. StockNews.com lowered shares of Truist Financial from a “hold” rating to a “sell” rating in a research note on Thursday, March 28th. Finally, UBS Group upped their price target on shares of Truist Financial from $45.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $41.97.

Truist Financial Stock Up 0.5 %

TFC stock opened at $38.17 on Friday. Truist Financial Co. has a 12 month low of $25.56 and a 12 month high of $39.29. The firm has a 50 day simple moving average of $36.90 and a 200 day simple moving average of $34.86. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.82 and a quick ratio of 0.82.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.12. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The business had revenue of $4.87 billion for the quarter, compared to analyst estimates of $5.70 billion. During the same quarter in the previous year, the business earned $1.09 earnings per share. The firm’s revenue was down 8.8% compared to the same quarter last year. On average, research analysts anticipate that Truist Financial Co. will post 3.27 EPS for the current year.

Truist Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 10th will be issued a dividend of $0.52 per share. The ex-dividend date is Thursday, May 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.45%. Truist Financial’s dividend payout ratio is currently -157.58%.

Insider Activity

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

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.