Truist Financial Co. (NYSE:TFC) Shares Purchased by BCS Wealth Management

BCS Wealth Management increased its position in shares of Truist Financial Co. (NYSE:TFC) by 45.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,176 shares of the insurance provider’s stock after acquiring an additional 6,882 shares during the period. BCS Wealth Management’s holdings in Truist Financial were worth $1,293,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. grew its holdings in Truist Financial by 1.6% during the fourth quarter. BlackRock Inc. now owns 89,294,163 shares of the insurance provider’s stock worth $4,279,871,000 after acquiring an additional 1,410,385 shares during the period. Boston Partners increased its stake in Truist Financial by 3.8% in the 4th quarter. Boston Partners now owns 17,174,582 shares of the insurance provider’s stock worth $823,178,000 after purchasing an additional 631,955 shares in the last quarter. Norges Bank purchased a new position in Truist Financial in the 4th quarter worth about $647,266,000. Canada Pension Plan Investment Board increased its stake in Truist Financial by 63.3% in the 4th quarter. Canada Pension Plan Investment Board now owns 8,196,523 shares of the insurance provider’s stock worth $392,859,000 after purchasing an additional 3,177,134 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Truist Financial by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,381,878 shares of the insurance provider’s stock worth $353,786,000 after purchasing an additional 46,506 shares in the last quarter. 72.11% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE TFC opened at $59.19 on Tuesday. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 0.66. The business’s 50 day moving average is $58.50 and its two-hundred day moving average is $51.86. The company has a market cap of $79.58 billion, a P/E ratio of 20.13, a P/E/G ratio of 1.75 and a beta of 1.36. Truist Financial Co. has a 12 month low of $29.87 and a 12 month high of $61.26.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Wednesday, April 14th. The insurance provider reported $1.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.07. The company had revenue of $5.48 billion for the quarter, compared to the consensus estimate of $5.43 billion. Truist Financial had a return on equity of 7.76% and a net margin of 16.95%. The company’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.83 EPS. Sell-side analysts expect that Truist Financial Co. will post 3.54 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 1st. Stockholders of record on Friday, May 14th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date is Thursday, May 13th. Truist Financial’s dividend payout ratio is presently 41.19%.

TFC has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their price target on Truist Financial from $60.50 to $63.00 in a research note on Monday. Bank of America lifted their target price on Truist Financial from $58.00 to $59.00 and gave the company a “buy” rating in a research note on Friday, January 22nd. Morgan Stanley lifted their target price on Truist Financial from $65.00 to $68.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 30th. Barclays lifted their target price on Truist Financial from $59.00 to $64.00 in a research note on Wednesday, April 7th. Finally, Truist cut Truist Financial from a “buy” rating to a “hold” rating in a research note on Thursday, January 7th. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $55.00.

In other news, EVP Scott Case sold 9,851 shares of the business’s stock in a transaction that occurred on Wednesday, March 17th. The stock was sold at an average price of $58.39, for a total transaction of $575,199.89. Following the sale, the executive vice president now directly owns 20,583 shares in the company, valued at $1,201,841.37. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Michael Baron Maguire sold 3,250 shares of the company’s stock in a transaction on Monday, April 19th. The shares were sold at an average price of $58.16, for a total value of $189,020.00. Following the completion of the sale, the executive vice president now owns 7,027 shares in the company, valued at $408,690.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,997 shares of company stock worth $1,223,463. 0.35% of the stock is currently owned by company insiders.

Truist Financial Profile

Truist Financial Corporation, a holding 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.

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Institutional Ownership by Quarter for Truist Financial (NYSE:TFC)

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