Keybank National Association OH Has $4.72 Million Position in Truist Financial Corporation $TFC

Keybank National Association OH boosted its position in Truist Financial Corporation (NYSE:TFC) by 14.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 103,308 shares of the insurance provider’s stock after purchasing an additional 13,058 shares during the quarter. Keybank National Association OH’s holdings in Truist Financial were worth $4,723,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brookstone Capital Management grew its stake in shares of Truist Financial by 12.3% in the third quarter. Brookstone Capital Management now owns 336,095 shares of the insurance provider’s stock valued at $15,366,000 after acquiring an additional 36,916 shares in the last quarter. Pinnacle Financial Partners Inc boosted its holdings in Truist Financial by 30.0% in the 3rd quarter. Pinnacle Financial Partners Inc now owns 174,839 shares of the insurance provider’s stock valued at $7,994,000 after purchasing an additional 40,393 shares during the period. Envestnet Portfolio Solutions Inc. grew its position in shares of Truist Financial by 15.8% during the 3rd quarter. Envestnet Portfolio Solutions Inc. now owns 95,827 shares of the insurance provider’s stock worth $4,381,000 after purchasing an additional 13,081 shares in the last quarter. Arbor Investment Advisors LLC grew its position in shares of Truist Financial by 1,327.6% during the 3rd quarter. Arbor Investment Advisors LLC now owns 82,718 shares of the insurance provider’s stock worth $3,782,000 after purchasing an additional 76,924 shares in the last quarter. Finally, Tradewinds LLC. bought a new position in shares of Truist Financial during the third quarter worth approximately $1,835,000. 71.28% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Truist Financial news, Director K. David Jr. Boyer sold 5,160 shares of the stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $46.45, for a total value of $239,682.00. Following the completion of the transaction, the director directly owned 10,153 shares in the company, valued at approximately $471,606.85. This trade represents a 33.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Michael Baron Maguire sold 13,000 shares of Truist Financial stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $50.13, for a total value of $651,690.00. Following the sale, the chief financial officer directly owned 74,323 shares in the company, valued at $3,725,811.99. The trade was a 14.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.14% of the stock is currently owned by corporate insiders.

Truist Financial Stock Up 0.2%

TFC stock opened at $51.44 on Monday. The firm has a 50-day moving average price of $49.37 and a 200-day moving average price of $46.39. Truist Financial Corporation has a 12 month low of $33.56 and a 12 month high of $51.67. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $65.80 billion, a P/E ratio of 13.50, a price-to-earnings-growth ratio of 0.87 and a beta of 0.89.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Wednesday, January 21st. The insurance provider reported $1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.09). The company had revenue of $5.25 billion for the quarter, compared to the consensus estimate of $5.32 billion. Truist Financial had a net margin of 17.09% and a return on equity of 9.03%. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period last year, the firm posted $0.91 earnings per share. As a group, equities research analysts anticipate that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial announced that its board has approved a stock repurchase program on Tuesday, December 16th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the insurance provider to purchase up to 15.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Friday, February 13th will be issued a dividend of $0.52 per share. The ex-dividend date is Friday, February 13th. This represents a $2.08 annualized dividend and a dividend yield of 4.0%. Truist Financial’s dividend payout ratio is 54.59%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on TFC shares. Citigroup boosted their price target on Truist Financial from $60.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, December 31st. Evercore ISI upgraded Truist Financial from a “hold” rating to an “outperform” rating and upped their target price for the company from $49.00 to $58.00 in a research report on Tuesday, January 6th. The Goldman Sachs Group restated a “buy” rating and issued a $58.00 price target on shares of Truist Financial in a research report on Tuesday, January 6th. Keefe, Bruyette & Woods boosted their price target on Truist Financial from $49.00 to $53.00 and gave the company a “market perform” rating in a research note on Wednesday, December 17th. Finally, Morgan Stanley increased their price objective on shares of Truist Financial from $55.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 17th. Seven research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Truist Financial presently has a consensus rating of “Hold” and an average price target of $54.20.

Truist Financial Company Profile

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.