Truist Financial Co. (NYSE:TFC) Shares Purchased by Tompkins Financial Corp

Tompkins Financial Corp boosted its holdings in shares of Truist Financial Co. (NYSE:TFC) by 70.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,412 shares of the insurance provider’s stock after acquiring an additional 2,241 shares during the period. Tompkins Financial Corp’s holdings in Truist Financial were worth $235,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of TFC. Hennessy Advisors Inc. lifted its stake in Truist Financial by 22.7% in the 4th quarter. Hennessy Advisors Inc. now owns 27,000 shares of the insurance provider’s stock valued at $1,171,000 after buying an additional 5,000 shares in the last quarter. KMG Fiduciary Partners LLC acquired a new position in shares of Truist Financial in the fourth quarter worth $1,708,000. Ritholtz Wealth Management purchased a new stake in shares of Truist Financial in the fourth quarter valued at $244,000. Carnegie Investment Counsel boosted its stake in shares of Truist Financial by 1.1% during the fourth quarter. Carnegie Investment Counsel now owns 52,203 shares of the insurance provider’s stock valued at $2,265,000 after acquiring an additional 557 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its position in Truist Financial by 150.2% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 32,175 shares of the insurance provider’s stock worth $1,396,000 after purchasing an additional 19,315 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TFC has been the topic of several analyst reports. HSBC raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research note on Tuesday, January 7th. Wells Fargo & Company raised their target price on shares of Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Hsbc Global Res upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Barclays raised their price objective on Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Finally, Piper Sandler upped their target price on Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Eleven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.95.

Truist Financial Price Performance

Shares of NYSE TFC opened at $44.95 on Friday. The stock has a fifty day moving average price of $45.38 and a 200 day moving average price of $43.47. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.62. Truist Financial Co. has a 12-month low of $34.23 and a 12-month high of $49.06.

Truist Financial (NYSE:TFC) last posted its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. The business had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5,047,370 billion. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.81 earnings per share. On average, analysts expect that Truist Financial Co. will post 3.61 EPS for the current fiscal year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 8th were given a dividend of $0.52 per share. The ex-dividend date was Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.63%. Truist Financial’s payout ratio is currently -145.45%.

Insider Activity

In other Truist Financial news, CEO William H. Rogers, Jr. acquired 34,180 shares of the company’s stock in a transaction on Monday, November 25th. The shares were bought at an average cost of $48.56 per share, for a total transaction of $1,659,780.80. Following the acquisition, the chief executive officer now directly owns 691,451 shares of the company’s stock, valued at $33,576,860.56. This trade represents a 5.20 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director K. David Jr. Boyer sold 4,966 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total value of $229,429.20. Following the transaction, the director now owns 11,246 shares of the company’s stock, valued at approximately $519,565.20. This trade represents a 30.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.17% of the company’s stock.

About Truist Financial

Truist Financial Corporation, a financial services company, provides banking and trust services in the Southeastern and Mid-Atlantic United States. The company operates through three segments: Consumer Banking and Wealth, Corporate and Commercial Banking, and Insurance Holdings.Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.