Greenleaf Trust Acquires 25,964 Shares of Truist Financial Corporation $TFC

Greenleaf Trust raised its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 197.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 39,138 shares of the insurance provider’s stock after purchasing an additional 25,964 shares during the period. Greenleaf Trust’s holdings in Truist Financial were worth $1,926,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in TFC. Independent Advisor Alliance increased its position in shares of Truist Financial by 9.7% during the third quarter. Independent Advisor Alliance now owns 329,093 shares of the insurance provider’s stock valued at $15,046,000 after acquiring an additional 29,191 shares in the last quarter. Cullen Capital Management LLC boosted its holdings in Truist Financial by 10.3% in the third quarter. Cullen Capital Management LLC now owns 4,591,783 shares of the insurance provider’s stock worth $209,936,000 after purchasing an additional 427,067 shares during the last quarter. Brookstone Capital Management boosted its stake in shares of Truist Financial by 12.3% during the 3rd quarter. Brookstone Capital Management now owns 336,095 shares of the insurance provider’s stock worth $15,366,000 after acquiring an additional 36,916 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its stake in shares of Truist Financial by 2.6% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 421,809 shares of the insurance provider’s stock worth $19,285,000 after acquiring an additional 10,706 shares during the last quarter. Finally, Oppenheimer & Co. Inc. boosted its stake in shares of Truist Financial by 18.6% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 169,030 shares of the insurance provider’s stock worth $7,728,000 after acquiring an additional 26,530 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Performance

Shares of NYSE:TFC opened at $49.35 on Thursday. 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 firm’s 50-day moving average is $48.96 and its 200 day moving average is $47.66. Truist Financial Corporation has a 12 month low of $33.82 and a 12 month high of $56.19. The company has a market capitalization of $61.24 billion, a price-to-earnings ratio of 12.95, a PEG ratio of 0.80 and a beta of 0.89.

Truist Financial (NYSE:TFC) last issued 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 return on equity of 9.03% and a net margin of 17.09%.The business had revenue of $4.93 billion for the quarter, compared to the consensus estimate of $5.32 billion. During the same period in the prior year, the business posted $0.91 earnings per share. Truist Financial’s revenue was up 3.6% on a year-over-year basis. Research analysts predict that Truist Financial Corporation will post 4 EPS for the current year.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Friday, February 13th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend was Friday, February 13th. Truist Financial’s dividend payout ratio (DPR) is currently 54.59%.

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

Analyst Upgrades and Downgrades

TFC has been the topic of a number of analyst reports. The Goldman Sachs Group restated a “buy” rating and set a $58.00 target price on shares of Truist Financial in a research note on Tuesday, January 6th. Raymond James Financial lifted their price target on shares of Truist Financial from $50.00 to $56.00 and gave the company an “outperform” rating in a report on Wednesday, January 7th. Robert W. Baird upgraded shares of Truist Financial from a “neutral” rating to an “outperform” rating and set a $52.00 target price on the stock in a report on Monday, March 9th. Keefe, Bruyette & Woods boosted their target price on shares of Truist Financial from $49.00 to $53.00 and gave the stock a “market perform” rating in a report on Wednesday, December 17th. Finally, Evercore restated an “outperform” rating on shares of Truist Financial in a report on Thursday, February 5th. Nine analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $54.41.

Insider Buying and Selling

In related news, CFO Michael Baron Maguire sold 13,000 shares of the firm’s stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $50.13, for a total transaction 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 approximately $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 accessible through the SEC website. Also, CAO Cynthia B. Powell sold 3,500 shares of the company’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $52.49, for a total transaction of $183,715.00. Following the completion of the transaction, the chief accounting officer owned 667 shares in the company, valued at $35,010.83. This represents a 83.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.15% of the stock is currently owned by company insiders.

About Truist Financial

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.