Truist Financial Co. (NYSE:TFC) Shares Bought by Community Bank N.A.

Community Bank N.A. raised its stake in Truist Financial Co. (NYSE:TFC) by 4.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 94,705 shares of the insurance provider’s stock after purchasing an additional 3,758 shares during the quarter. Community Bank N.A.’s holdings in Truist Financial were worth $3,496,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. OFI Invest Asset Management acquired a new position in shares of Truist Financial in the 3rd quarter valued at $26,000. Operose Advisors LLC acquired a new position in shares of Truist Financial in the 3rd quarter valued at $31,000. Tyler Stone Wealth Management purchased a new position in shares of Truist Financial in the 3rd quarter valued at $33,000. Morton Brown Family Wealth LLC raised its stake in shares of Truist Financial by 236.0% in the 4th quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 649 shares during the period. Finally, Authentikos Wealth Advisory LLC purchased a new position in shares of Truist Financial in the 3rd quarter valued at $36,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TFC. Keefe, Bruyette & Woods raised their target price on shares of Truist Financial from $44.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, April 5th. Piper Sandler raised their target price on shares of Truist Financial from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, January 19th. Barclays raised their target price on shares of Truist Financial from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 2nd. Jefferies Financial Group raised their target price on shares of Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a research note on Monday, April 8th. Finally, Stephens reissued an “overweight” rating and issued a $43.00 target price on shares of Truist Financial in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $41.97.

Insider Buying and Selling at Truist Financial

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $37.48, for a total transaction of $141,074.72. Following the completion of the transaction, the director now directly owns 16,132 shares of the company’s stock, valued at approximately $604,627.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.17% of the stock is currently owned by company insiders.

Truist Financial Stock Performance

Shares of NYSE TFC traded down $0.05 during midday trading on Wednesday, hitting $38.79. The company’s stock had a trading volume of 7,015,126 shares, compared to its average volume of 9,696,075. Truist Financial Co. has a 1-year low of $25.56 and a 1-year high of $39.29. The firm’s fifty day moving average price is $36.83 and its 200-day moving average price is $34.73. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market cap of $51.77 billion, a P/E ratio of -29.39, a P/E/G ratio of 2.39 and a beta of 1.08.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.78 by $0.12. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The business had revenue of $4.87 billion during the quarter, compared to analyst estimates of $5.70 billion. During the same period in the previous year, the business posted $1.09 EPS. The company’s quarterly revenue was down 8.8% on a year-over-year basis. On average, sell-side analysts forecast that Truist Financial Co. will post 3.27 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 10th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 5.36%. The ex-dividend date is Thursday, May 9th. Truist Financial’s payout ratio is -157.58%.

Truist Financial 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.