Hengehold Capital Management LLC Raises Stock Position in Truist Financial Co. (NYSE:TFC)

Hengehold Capital Management LLC raised its holdings in shares of Truist Financial Co. (NYSE:TFC) by 1.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 80,838 shares of the insurance provider’s stock after acquiring an additional 905 shares during the quarter. Hengehold Capital Management LLC’s holdings in Truist Financial were worth $3,507,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Bangor Savings Bank raised its position in shares of Truist Financial by 92.5% during the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock valued at $25,000 after buying an additional 272 shares during the last quarter. Valley Wealth Managers Inc. purchased a new position in Truist Financial during the third quarter valued at $26,000. MidAtlantic Capital Management Inc. bought a new stake in Truist Financial in the 3rd quarter valued at $32,000. Fortitude Family Office LLC increased its holdings in Truist Financial by 376.7% in the 3rd quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock valued at $37,000 after acquiring an additional 678 shares during the last quarter. Finally, Ashton Thomas Securities LLC purchased a new position in shares of Truist Financial during the third quarter valued at about $45,000. Institutional investors own 71.28% of the company’s stock.

Analyst Ratings Changes

TFC has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their target price on Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. UBS Group increased their target price on Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Compass Point boosted their price target on shares of Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Raymond James lifted their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Finally, Barclays upped their target price on shares of Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. Eleven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $50.79.

Insider Activity at Truist Financial

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

Truist Financial Stock Down 0.6 %

Shares of Truist Financial stock opened at $46.72 on Friday. The firm’s 50-day moving average is $45.46 and its two-hundred day moving average is $43.75. Truist Financial Co. has a 1 year low of $34.23 and a 1 year high of $49.06. The stock has a market cap of $62.03 billion, a price-to-earnings ratio of 14.03, a PEG ratio of 1.67 and a beta of 1.08. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The firm had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5,047,370 billion. During the same period in the prior year, the business posted $0.81 EPS. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. As a group, research analysts expect that Truist Financial Co. will post 3.95 earnings per share for the current fiscal year.

Truist Financial Company Profile

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.