Greenleaf Trust Grows Position in Truist Financial Co. (NYSE:TFC)

Greenleaf Trust raised its holdings in Truist Financial Co. (NYSE:TFC) by 6.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,195 shares of the insurance provider’s stock after acquiring an additional 838 shares during the period. Greenleaf Trust’s holdings in Truist Financial were worth $524,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of TFC. OFI Invest Asset Management purchased a new stake in shares of Truist Financial in the 3rd quarter valued at about $26,000. Operose Advisors LLC purchased a new stake in shares of Truist Financial in the 3rd quarter valued at about $31,000. Tyler Stone Wealth Management purchased a new stake in shares of Truist Financial in the 3rd quarter valued at about $33,000. Morton Brown Family Wealth LLC raised its holdings in shares of Truist Financial by 236.0% during the 4th quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock valued at $34,000 after buying an additional 649 shares in the last quarter. Finally, Authentikos Wealth Advisory LLC purchased a new position in shares of Truist Financial during the 3rd quarter valued at about $36,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Price Performance

Shares of TFC stock opened at $38.04 on Tuesday. Truist Financial Co. has a fifty-two week low of $25.56 and a fifty-two week high of $39.29. The business’s 50 day moving average price is $36.68 and its 200-day moving average price is $34.62. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.74.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.12. The firm had revenue of $4.87 billion for the quarter, compared to analyst estimates of $5.70 billion. Truist Financial had a positive return on equity of 9.64% and a negative net margin of 3.28%. The business’s quarterly revenue was down 8.8% compared to the same quarter last year. During the same period last year, the company earned $1.09 EPS. On average, sell-side analysts forecast that Truist Financial Co. will post 3.33 EPS for the current year.

Insider Transactions at Truist Financial

In other news, Director K. David Jr. Boyer sold 3,764 shares of Truist Financial stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $37.48, for a total value of $141,074.72. Following the sale, the director now directly owns 16,132 shares in the company, valued at approximately $604,627.36. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

TFC has been the topic of a number of research reports. Wells Fargo & Company raised their price objective on Truist Financial from $39.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Raymond James raised their price objective on Truist Financial from $34.00 to $41.00 and gave the company an “outperform” rating in a report on Friday, January 5th. HSBC raised their price objective on Truist Financial from $37.00 to $39.00 and gave the company a “hold” rating in a report on Thursday, March 28th. StockNews.com cut Truist Financial from a “hold” rating to a “sell” rating in a report on Thursday, March 28th. Finally, TheStreet cut Truist Financial from a “b-” rating to a “c” rating in a report on Tuesday, February 20th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Truist Financial currently has an average rating of “Moderate Buy” and an average target price of $41.56.

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.