Aptus Capital Advisors LLC Boosts Stock Holdings in Truist Financial Corporation $TFC

Aptus Capital Advisors LLC lifted its position in shares of Truist Financial Corporation (NYSE:TFC) by 95.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,951 shares of the insurance provider’s stock after acquiring an additional 29,823 shares during the quarter. Aptus Capital Advisors LLC’s holdings in Truist Financial were worth $2,787,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Valley Wealth Managers Inc. acquired a new stake in shares of Truist Financial in the third quarter valued at about $28,000. Capital A Wealth Management LLC raised its position in shares of Truist Financial by 1,189.5% during the 2nd quarter. Capital A Wealth Management LLC now owns 735 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 678 shares during the last quarter. Darwin Wealth Management LLC raised its position in shares of Truist Financial by 631.6% during the 3rd quarter. Darwin Wealth Management LLC now owns 695 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 600 shares during the last quarter. Twin Peaks Wealth Advisors LLC purchased a new position in Truist Financial in the 2nd quarter valued at about $36,000. Finally, Tripletail Wealth Management LLC purchased a new position in Truist Financial in the 3rd quarter valued at about $37,000. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Truist Financial Trading Down 4.3%

TFC opened at $46.40 on Monday. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.87 and a quick ratio of 0.86. The company’s 50 day simple moving average is $51.01 and its two-hundred day simple moving average is $47.72. Truist Financial Corporation has a 1-year low of $33.56 and a 1-year high of $56.19. The firm has a market capitalization of $57.96 billion, a price-to-earnings ratio of 12.18, a price-to-earnings-growth ratio of 0.79 and a beta of 0.87.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Wednesday, January 21st. The insurance provider reported $1.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.09). Truist Financial had a net margin of 17.09% and a return on equity of 9.03%. The company had revenue of $4.93 billion during the quarter, compared to analysts’ expectations of $5.32 billion. During the same quarter last year, the company earned $0.91 earnings per share. Truist Financial’s revenue for the quarter was up 3.6% on a year-over-year basis. Analysts expect that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Friday, February 13th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, February 13th. This represents a $2.08 dividend on an annualized basis and a yield of 4.5%. Truist Financial’s payout ratio is 54.59%.

Truist Financial declared that its Board of Directors has approved a share repurchase program on Tuesday, December 16th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the insurance provider to purchase up to 15.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on TFC shares. Citigroup boosted their price objective on Truist Financial from $60.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, December 31st. Argus raised their target price on Truist Financial from $54.00 to $58.00 and gave the company a “buy” rating in a research report on Friday, January 23rd. Barclays cut Truist Financial from an “equal weight” rating to an “underweight” rating and boosted their price target for the stock from $47.00 to $56.00 in a research report on Monday, January 5th. Morgan Stanley raised Truist Financial from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $56.00 to $69.00 in a research note on Tuesday, February 17th. Finally, Evercore restated an “outperform” rating on shares of Truist Financial in a report on Thursday, February 5th. Nine equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $56.47.

Insider Buying and Selling at Truist Financial

In other Truist Financial news, CFO Michael Baron Maguire sold 13,000 shares of the firm’s stock in a transaction on Monday, January 26th. The stock was sold at an average price of $50.13, for a total value of $651,690.00. Following the completion of the sale, the chief financial officer directly owned 74,323 shares of the company’s stock, valued at $3,725,811.99. This trade represents a 14.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Cynthia B. Powell sold 3,500 shares of Truist Financial stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $52.49, for a total value of $183,715.00. Following the transaction, the chief accounting officer owned 667 shares in the company, valued at approximately $35,010.83. This represents a 83.99% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.17% of the stock is owned by corporate insiders.

Truist Financial 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.