Moloney Securities Asset Management LLC bought a new position in Truist Financial Corporation (NYSE:TFC) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 12,897 shares of the insurance provider’s stock, valued at approximately $726,000.
A number of other hedge funds also recently modified their holdings of TFC. Hudock Capital Group LLC purchased a new stake in shares of Truist Financial in the 4th quarter worth approximately $26,000. Riggs Asset Managment Co. Inc. purchased a new stake in shares of Truist Financial in the 4th quarter worth approximately $26,000. NuWave Investment Management LLC purchased a new stake in shares of Truist Financial in the 4th quarter worth approximately $26,000. Field & Main Bank purchased a new stake in shares of Truist Financial in the 4th quarter worth approximately $26,000. Finally, Reilly Financial Advisors LLC purchased a new stake in shares of Truist Financial in the 4th quarter worth approximately $27,000. Institutional investors and hedge funds own 73.02% of the company’s stock.
TFC has been the subject of several research reports. ValuEngine raised shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, January 21st. Stephens lowered their price target on shares of Truist Financial from $61.00 to $54.00 and set an “equal weight” rating for the company in a research report on Monday, February 3rd. Odeon Capital Group cut shares of Truist Financial from a “buy” rating to a “hold” rating in a research report on Monday, February 3rd. Credit Suisse Group began coverage on shares of Truist Financial in a research report on Monday, December 16th. They set a “neutral” rating and a $55.00 target price for the company. Finally, Zacks Investment Research raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a research report on Wednesday, January 1st. Nine analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Truist Financial currently has an average rating of “Hold” and an average price target of $55.33.
NYSE:TFC opened at $54.94 on Friday. Truist Financial Corporation has a 52 week low of $44.51 and a 52 week high of $56.92. The firm has a 50 day moving average of $55.21 and a 200 day moving average of $52.79. The company has a quick ratio of 0.92, a current ratio of 0.94 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $42.01 billion, a price-to-earnings ratio of 12.57, a PEG ratio of 1.51 and a beta of 1.16.
Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Thursday, January 30th. The insurance provider reported $1.12 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.10. The business had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $3.65 billion. Truist Financial had a net margin of 21.49% and a return on equity of 10.03%. During the same quarter last year, the company posted $1.05 earnings per share. As a group, analysts expect that Truist Financial Corporation will post 4.41 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Friday, February 14th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.28%. Truist Financial’s dividend payout ratio is currently 41.19%.
In other news, EVP Michael Baron Maguire sold 7,689 shares of the stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $55.19, for a total value of $424,355.91. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Thomas E. Skains sold 4,285 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $54.25, for a total transaction of $232,461.25. Following the completion of the sale, the director now owns 30,753 shares in the company, valued at approximately $1,668,350.25. The disclosure for this sale can be found here. In the last ninety days, insiders sold 233,016 shares of company stock valued at $12,652,237. Corporate insiders own 0.49% of the company’s stock.
About Truist Financial
Truist Financial Corp., formerly BB&T, is a bank holding company based in Charlotte, North Carolina. Its bank operates 2,049 branches in 15 states and Washington, DC, and offers consumer and commercial banking, securities brokerage, asset management, mortgage, and insurance products and services.
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