Truist Financial Corporation $TFC Shares Purchased by First Trust Advisors LP

First Trust Advisors LP boosted its holdings in Truist Financial Corporation (NYSE:TFC) by 12.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,157,536 shares of the insurance provider’s stock after buying an additional 352,591 shares during the period. First Trust Advisors LP owned 0.25% of Truist Financial worth $144,363,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Valley Wealth Managers Inc. acquired a new stake in shares of Truist Financial in the third quarter worth approximately $28,000. Capital A Wealth Management LLC boosted its holdings in shares of Truist Financial by 1,189.5% in the 2nd quarter. Capital A Wealth Management LLC now owns 735 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 678 shares during the last quarter. Darwin Wealth Management LLC grew its stake 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 valued at $32,000 after buying an additional 600 shares during the period. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Truist Financial during the 2nd quarter worth $36,000. Finally, Tripletail Wealth Management LLC purchased a new position in shares of Truist Financial in the 3rd quarter worth $37,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on TFC. Keefe, Bruyette & Woods upped their price target on Truist Financial from $49.00 to $53.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 17th. TD Cowen lifted their price target on shares of Truist Financial from $59.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Argus increased their price objective on shares of Truist Financial from $54.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, January 23rd. Raymond James Financial lifted their target price 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. Finally, Weiss Ratings upgraded Truist Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, February 25th. Nine research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $56.47.

Insider Buying and Selling

In related news, CAO Cynthia B. Powell sold 3,500 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $52.49, for a total transaction of $183,715.00. Following the sale, the chief accounting officer directly owned 667 shares of the company’s stock, valued at approximately $35,010.83. This represents a 83.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Michael Baron Maguire sold 13,000 shares of Truist Financial stock in a transaction 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 transaction, the chief financial officer directly owned 74,323 shares of the company’s stock, valued at approximately $3,725,811.99. This represents a 14.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.17% of the stock is currently owned by insiders.

Truist Financial Stock Performance

Truist Financial stock opened at $46.40 on Monday. Truist Financial Corporation has a 52 week low of $33.56 and a 52 week high of $56.19. 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 cap of $57.96 billion, a P/E ratio of 12.18, a price-to-earnings-growth ratio of 0.79 and a beta of 0.87. The stock has a 50 day moving average of $51.01 and a 200-day moving average of $47.72.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Wednesday, January 21st. The insurance provider reported $1.00 earnings per share for the quarter, missing the consensus estimate 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 return on equity of 9.03% and a net margin of 17.09%.Truist Financial’s revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.91 earnings per share. On average, analysts expect that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Friday, February 13th were given a $0.52 dividend. The ex-dividend date was Friday, February 13th. This represents a $2.08 annualized dividend and a dividend yield of 4.5%. Truist Financial’s dividend payout ratio (DPR) is presently 54.59%.

Truist Financial declared that its Board of Directors has approved a share buyback plan on Tuesday, December 16th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the insurance provider to purchase up to 15.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

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.