North Star Investment Management Corp. Buys 422 Shares of Truist Financial Co. (NYSE:TFC)

North Star Investment Management Corp. increased its stake in shares of Truist Financial Co. (NYSE:TFC – Get Rating) by 0.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 58,329 shares of the insurance provider’s stock after acquiring an additional 422 shares during the quarter. North Star Investment Management Corp.’s holdings in Truist Financial were worth $2,510,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Fairfield Bush & CO. purchased a new stake in Truist Financial during the first quarter valued at $25,000. United Bank raised its stake in Truist Financial by 4.1% during the first quarter. United Bank now owns 74,457 shares of the insurance provider’s stock valued at $4,222,000 after purchasing an additional 2,938 shares in the last quarter. Panagora Asset Management Inc. raised its stake in Truist Financial by 33.3% during the first quarter. Panagora Asset Management Inc. now owns 26,365 shares of the insurance provider’s stock valued at $1,495,000 after purchasing an additional 6,593 shares in the last quarter. Vontobel Holding Ltd. raised its stake in Truist Financial by 3.3% during the first quarter. Vontobel Holding Ltd. now owns 22,951 shares of the insurance provider’s stock valued at $1,348,000 after purchasing an additional 738 shares in the last quarter. Finally, Blair William & Co. IL raised its stake in Truist Financial by 8.1% during the first quarter. Blair William & Co. IL now owns 56,690 shares of the insurance provider’s stock valued at $3,214,000 after purchasing an additional 4,234 shares in the last quarter. Institutional investors own 72.49% of the company’s stock.

Insiders Place Their Bets

In other news, Director David M. Ratcliffe purchased 13,125 shares of the stock in a transaction dated Friday, March 10th. The shares were acquired at an average cost of $38.08 per share, for a total transaction of $499,800.00. Following the acquisition, the director now owns 39,025 shares of the company’s stock, valued at $1,486,072. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Hugh S. Cummins III sold 35,229 shares of Truist Financial stock in a transaction that occurred on Friday, January 27th. The shares were sold at an average price of $49.05, for a total value of $1,727,982.45. Following the completion of the sale, the insider now directly owns 307,069 shares in the company, valued at approximately $15,061,734.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David M. Ratcliffe bought 13,125 shares of the stock in a transaction that occurred on Friday, March 10th. The stock was bought at an average price of $38.08 per share, with a total value of $499,800.00. Following the completion of the purchase, the director now directly owns 39,025 shares in the company, valued at $1,486,072. The disclosure for this purchase can be found here. 0.31% of the stock is owned by company insiders.

Truist Financial Stock Down 7.2 %

Shares of Truist Financial stock opened at $30.56 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.80. Truist Financial Co. has a 1 year low of $28.70 and a 1 year high of $61.10. The firm’s 50-day moving average is $45.85 and its two-hundred day moving average is $44.97. The stock has a market cap of $40.59 billion, a price-to-earnings ratio of 6.90, a PEG ratio of 1.37 and a beta of 1.10.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 1st. Shareholders of record on Friday, February 10th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 6.81%. The ex-dividend date was Thursday, February 9th. Truist Financial’s payout ratio is 46.95%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on TFC shares. StockNews.com started coverage on shares of Truist Financial in a research note on Thursday. They set a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft downgraded shares of Truist Financial from a “buy” rating to a “hold” rating and reduced their target price for the company from $61.00 to $48.00 in a research note on Friday, January 6th. Citigroup raised shares of Truist Financial from a “neutral” rating to a “buy” rating and set a $52.00 target price on the stock in a research note on Wednesday. TheStreet raised shares of Truist Financial from a “c+” rating to a “b-” rating in a research note on Monday, January 23rd. Finally, Robert W. Baird raised shares of Truist Financial from a “neutral” rating to an “outperform” rating and set a $53.00 target price on the stock in a research note on Monday, March 13th. One analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Truist Financial currently has a consensus rating of “Hold” and an average price target of $51.58.

About Truist Financial

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Truist Financial Corp. is a financial holding company, which engages in the provision of banking services to individuals, businesses, and municipalities. It operates through the following segments: Consumer Banking and Wealth, Corporate and Commercial Banking, Insurance Holdings, and Other, Treasury & Corporate.