Truist Financial Co. (NYSE:TFC) Shares Sold by Elevated Capital Advisors LLC

Elevated Capital Advisors LLC cut its position in Truist Financial Co. (NYSE:TFC) by 2.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 17,629 shares of the insurance provider’s stock after selling 379 shares during the quarter. Elevated Capital Advisors LLC’s holdings in Truist Financial were worth $765,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Eastern Bank increased its holdings in Truist Financial by 8.5% during the 4th quarter. Eastern Bank now owns 4,859 shares of the insurance provider’s stock worth $211,000 after purchasing an additional 381 shares during the last quarter. Wedmont Private Capital grew its position in shares of Truist Financial by 19.1% during the fourth quarter. Wedmont Private Capital now owns 12,348 shares of the insurance provider’s stock worth $528,000 after buying an additional 1,978 shares in the last quarter. Salem Investment Counselors Inc. increased its stake in shares of Truist Financial by 0.5% in the fourth quarter. Salem Investment Counselors Inc. now owns 292,822 shares of the insurance provider’s stock worth $12,703,000 after buying an additional 1,581 shares during the last quarter. Capital Investment Advisors LLC raised its holdings in Truist Financial by 1.7% in the fourth quarter. Capital Investment Advisors LLC now owns 39,413 shares of the insurance provider’s stock valued at $1,710,000 after acquiring an additional 656 shares in the last quarter. Finally, Brookstone Capital Management boosted its stake in Truist Financial by 2.1% during the 4th quarter. Brookstone Capital Management now owns 275,849 shares of the insurance provider’s stock valued at $11,966,000 after acquiring an additional 5,765 shares during the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Stock Performance

TFC stock traded up $0.35 during trading on Monday, reaching $43.13. 8,450,714 shares of the company’s stock were exchanged, compared to its average volume of 6,508,144. Truist Financial Co. has a 1-year low of $34.23 and a 1-year high of $49.06. The firm has a market cap of $57.26 billion, a PE ratio of -30.16, a P/E/G ratio of 1.88 and a beta of 1.08. The company’s fifty day moving average price is $45.36 and its 200-day moving average price is $43.38. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62.

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, topping the consensus estimate of $0.89 by $0.08. The business had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $5.05 billion. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. On average, research analysts expect that Truist Financial Co. will post 3.7 EPS for the current fiscal year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 8th were paid a dividend of $0.52 per share. The ex-dividend date was Friday, November 8th. This represents a $2.08 annualized dividend and a yield of 4.82%. Truist Financial’s dividend payout ratio is currently -145.45%.

Analyst Ratings Changes

TFC has been the subject of several research analyst reports. Royal Bank of Canada boosted their target price on shares of Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Keefe, Bruyette & Woods boosted their price objective on Truist Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Compass Point increased their target price on Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Barclays boosted their price target on Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Finally, Piper Sandler upped their price target on Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have given a buy rating and one has given a strong 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 target price of $49.89.

Insider Transactions at Truist Financial

In other Truist Financial news, Director K. David Jr. Boyer sold 4,966 shares of Truist Financial stock in a transaction that occurred 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 transaction, the director now directly owns 11,246 shares in the company, valued at approximately $519,565.20. The trade was a 30.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William H. Rogers, Jr. purchased 34,180 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were acquired at an average cost of $48.56 per share, for a total transaction of $1,659,780.80. Following the completion of the transaction, the chief executive officer now directly owns 691,451 shares of the company’s stock, valued at $33,576,860.56. This trade represents a 5.20 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.17% of the company’s stock.

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.