Truist Financial Corporation $TFC Shares Bought by Capital Investment Advisors LLC

Capital Investment Advisors LLC boosted its holdings in Truist Financial Corporation (NYSE:TFC) by 35.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 53,773 shares of the insurance provider’s stock after acquiring an additional 14,178 shares during the period. Capital Investment Advisors LLC’s holdings in Truist Financial were worth $2,646,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Capital International Investors increased its position in Truist Financial by 0.3% during the 3rd quarter. Capital International Investors now owns 107,642,731 shares of the insurance provider’s stock worth $4,921,717,000 after purchasing an additional 346,423 shares in the last quarter. Invesco Ltd. boosted its position in shares of Truist Financial by 6.5% in the second quarter. Invesco Ltd. now owns 13,995,108 shares of the insurance provider’s stock worth $601,650,000 after acquiring an additional 854,826 shares during the last quarter. Norges Bank purchased a new stake in shares of Truist Financial during the 2nd quarter valued at $487,401,000. Federated Hermes Inc. grew its position in Truist Financial by 8.4% during the third quarter. Federated Hermes Inc. now owns 10,445,658 shares of the insurance provider’s stock valued at $477,575,000 after acquiring an additional 813,177 shares during the period. Finally, Wellington Management Group LLP grew its holdings in shares of Truist Financial by 13,511.7% during the 3rd quarter. Wellington Management Group LLP now owns 10,386,831 shares of the insurance provider’s stock worth $474,886,000 after purchasing an additional 10,310,523 shares during the period. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Wall Street Analysts Forecast Growth

TFC has been the subject of a number of research reports. Citigroup upped their price target on shares of Truist Financial from $60.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, December 31st. Jefferies Financial Group assumed coverage on shares of Truist Financial in a research report on Thursday. They set an “underperform” rating and a $35.00 price target for the company. Piper Sandler upped their price objective on Truist Financial from $50.00 to $53.00 and gave the company a “neutral” rating in a research note on Thursday, January 22nd. JPMorgan Chase & Co. increased their target price on shares of Truist Financial from $51.50 to $57.00 and gave the stock a “neutral” rating in a report on Monday, February 9th. Finally, Robert W. Baird upgraded Truist Financial from a “neutral” rating to an “outperform” rating and set a $52.00 price target on the stock in a research report on Monday, March 9th. Nine research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $55.13.

Truist Financial Stock Performance

Shares of NYSE TFC opened at $44.54 on Friday. The stock has a fifty day moving average price of $49.44 and a two-hundred day moving average price of $47.57. The firm has a market cap of $55.27 billion, a P/E ratio of 11.69, a PEG ratio of 0.75 and a beta of 0.87. Truist Financial Corporation has a 1 year low of $33.56 and a 1 year high of $56.19. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.86 and a current ratio of 0.87.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Wednesday, January 21st. The insurance provider reported $1.00 EPS for the quarter, missing the consensus estimate of $1.09 by ($0.09). The business had revenue of $4.93 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the firm posted $0.91 earnings per share. Research analysts forecast that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Friday, February 13th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date was Friday, February 13th. Truist Financial’s payout ratio is presently 54.59%.

Truist Financial announced that its Board of Directors has initiated a stock repurchase 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 buy up to 15.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Transactions at Truist Financial

In other news, CAO Cynthia B. Powell sold 3,500 shares of the firm’s 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 completion of the sale, the chief accounting officer 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Michael Baron Maguire sold 13,000 shares of the stock in a transaction dated 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 approximately $3,725,811.99. This represents a 14.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.15% of the company’s stock.

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.