Farther Finance Advisors LLC Acquires 16,247 Shares of Truist Financial Corporation $TFC

Farther Finance Advisors LLC grew its holdings in Truist Financial Corporation (NYSE:TFC) by 69.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 39,541 shares of the insurance provider’s stock after purchasing an additional 16,247 shares during the quarter. Farther Finance Advisors LLC’s holdings in Truist Financial were worth $1,946,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of TFC. Valley Wealth Managers Inc. bought a new position in Truist Financial during the 3rd quarter worth approximately $28,000. Maseco LLP boosted its stake in Truist Financial by 53.8% during the 4th quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 228 shares during the last quarter. Ancora Advisors LLC boosted its stake in Truist Financial by 259.1% during the 3rd quarter. Ancora Advisors LLC now owns 693 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 500 shares during the last quarter. Darwin Wealth Management LLC boosted its stake in 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 acquiring an additional 600 shares during the last quarter. Finally, Tripletail Wealth Management LLC bought a new position in Truist Financial during the 3rd quarter worth approximately $37,000. Institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Performance

Shares of TFC opened at $50.66 on Monday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.86 and a current ratio of 0.86. Truist Financial Corporation has a twelve month low of $35.00 and a twelve month high of $56.19. The firm’s 50 day moving average price is $48.43 and its two-hundred day moving average price is $47.88. The firm has a market cap of $62.87 billion, a P/E ratio of 12.57, a PEG ratio of 0.88 and a beta of 0.89.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Friday, April 17th. The insurance provider reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09. Truist Financial had a net margin of 18.14% and a return on equity of 9.55%. The firm had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.18 billion. During the same quarter in the previous year, the firm posted $0.87 earnings per share. The business’s revenue was up 5.0% on a year-over-year basis. On average, analysts forecast that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Friday, February 13th were paid a $0.52 dividend. 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 4.1%. Truist Financial’s payout ratio is presently 54.59%.

Insider Buying and Selling

In other Truist Financial news, CAO Cynthia B. Powell sold 3,500 shares of Truist Financial stock in a transaction that occurred on Monday, February 2nd. The shares were 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 of the company’s stock, valued at approximately $35,010.83. The trade was a 83.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Michael Baron Maguire sold 13,000 shares of Truist Financial stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $50.13, for a total transaction of $651,690.00. Following the completion of the transaction, the chief financial officer directly owned 74,323 shares in the company, valued at approximately $3,725,811.99. The trade was a 14.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

TFC has been the topic of several recent analyst reports. TD Cowen lifted their price objective on shares of Truist Financial from $59.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Evercore reissued an “outperform” rating on shares of Truist Financial in a research note on Thursday, February 5th. Robert W. Baird raised shares of Truist Financial from a “neutral” rating to an “outperform” rating and set a $52.00 price objective on the stock in a research note on Monday, March 9th. Morgan Stanley reduced their price objective on shares of Truist Financial from $69.00 to $63.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 31st. Finally, Piper Sandler lifted their price objective on shares of Truist Financial from $50.00 to $53.00 and gave the stock a “neutral” rating in a research note on Thursday, January 22nd. Ten investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $55.03.

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.