Bank & Trust Co Has $967,000 Stake in Truist Financial Co. (NYSE:TFC)

Bank & Trust Co trimmed its holdings in Truist Financial Co. (NYSE:TFC) by 1.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,299 shares of the insurance provider’s stock after selling 310 shares during the quarter. Bank & Trust Co’s holdings in Truist Financial were worth $967,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in TFC. Bangor Savings Bank boosted its position in shares of Truist Financial by 92.5% during the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 272 shares in the last quarter. Valley Wealth Managers Inc. bought a new stake in shares of Truist Financial during the third quarter valued at approximately $26,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Truist Financial during the third quarter worth approximately $32,000. Y.D. More Investments Ltd acquired a new stake in Truist Financial in the 2nd quarter valued at $31,000. Finally, Fortitude Family Office LLC increased its stake in Truist Financial by 376.7% during the 3rd quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock valued at $37,000 after purchasing an additional 678 shares in the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Price Performance

Shares of NYSE TFC traded up $0.06 during midday trading on Tuesday, hitting $44.16. 2,004,553 shares of the company’s stock were exchanged, compared to its average volume of 4,555,533. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.62. The business’s fifty day moving average price is $45.31 and its two-hundred day moving average price is $43.20. The company has a market cap of $58.62 billion, a price-to-earnings ratio of -30.88, a PEG ratio of 1.88 and a beta of 1.08. Truist Financial Co. has a 12-month low of $34.23 and a 12-month high of $49.06.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.08. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. The firm had revenue of $5.09 billion for the quarter, compared to analysts’ expectations of $5.05 billion. As a group, research analysts forecast that Truist Financial Co. will post 3.7 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 8th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.71%. The ex-dividend date of this dividend was Friday, November 8th. Truist Financial’s dividend payout ratio (DPR) is presently -145.45%.

Analyst Ratings Changes

TFC has been the topic of a number of analyst reports. Stephens reaffirmed an “overweight” rating and issued a $54.00 price target on shares of Truist Financial in a research report on Thursday, January 2nd. UBS Group upped their price target on Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Barclays lifted their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday. Keefe, Bruyette & Woods increased their target price on shares of Truist Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Finally, Compass Point upped their price objective 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. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $49.89.

Insider Activity

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

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.