Truist Financial Corporation $TFC Stock Holdings Increased by Colonial Trust Advisors

Colonial Trust Advisors grew its position in shares of Truist Financial Corporation (NYSE:TFC) by 58.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 162,771 shares of the insurance provider’s stock after buying an additional 59,788 shares during the period. Colonial Trust Advisors’ holdings in Truist Financial were worth $7,442,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Aspect Partners LLC raised its position in shares of Truist Financial by 71.5% during the 2nd quarter. Aspect Partners LLC now owns 643 shares of the insurance provider’s stock valued at $28,000 after acquiring an additional 268 shares in the last quarter. Valley Wealth Managers Inc. bought a new stake in Truist Financial during the third quarter valued at $28,000. Capital A Wealth Management LLC raised its holdings in shares of Truist Financial by 1,189.5% during the second 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 period. Darwin Wealth Management LLC lifted its position in shares of Truist Financial by 631.6% in the 3rd quarter. Darwin Wealth Management LLC now owns 695 shares of the insurance provider’s stock worth $32,000 after buying an additional 600 shares during the last quarter. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in shares of Truist Financial in the 2nd quarter valued at about $36,000. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Trading Down 0.8%

Shares of NYSE:TFC opened at $49.71 on Wednesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.86 and a current ratio of 0.87. The stock has a market capitalization of $63.59 billion, a price-to-earnings ratio of 13.05, a PEG ratio of 0.85 and a beta of 0.89. Truist Financial Corporation has a 1-year low of $33.56 and a 1-year high of $56.19. The company has a 50 day moving average price of $51.19 and a 200 day moving average price of $47.44.

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

Truist Financial announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, December 16th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the insurance provider to repurchase up to 15.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership 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. Investors of record on Friday, February 13th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $2.08 dividend on an annualized basis and a yield of 4.2%. Truist Financial’s dividend payout ratio (DPR) is currently 54.59%.

Insider Activity

In other 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 directly owned 667 shares of the company’s stock, valued at $35,010.83. This trade represents a 83.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Michael Baron Maguire sold 13,000 shares of the business’s 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 sale, the chief financial officer owned 74,323 shares in the company, valued at $3,725,811.99. This represents a 14.89% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.14% of the stock is currently owned by insiders.

Analysts Set New Price Targets

TFC has been the topic of a number of recent research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Truist Financial in a report on Monday, December 29th. Piper Sandler raised their price target on Truist Financial from $50.00 to $53.00 and gave the stock a “neutral” rating in a report on Thursday, January 22nd. The Goldman Sachs Group restated a “buy” rating and set a $58.00 price objective on shares of Truist Financial in a research report on Tuesday, January 6th. Keefe, Bruyette & Woods increased their target price on Truist Financial from $49.00 to $53.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 17th. Finally, Raymond James Financial boosted 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. Eight investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Truist Financial presently has an average rating of “Hold” and an average price target of $56.47.

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.