BSW Wealth Partners Purchases 682 Shares of Truist Financial Co. (NYSE:TFC)

BSW Wealth Partners boosted its holdings in Truist Financial Co. (NYSE:TFC) by 6.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,047 shares of the insurance provider’s stock after acquiring an additional 682 shares during the quarter. BSW Wealth Partners’ holdings in Truist Financial were worth $479,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of TFC. NewEdge Advisors LLC grew its position in Truist Financial by 0.3% during the second quarter. NewEdge Advisors LLC now owns 148,053 shares of the insurance provider’s stock valued at $5,752,000 after buying an additional 444 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in Truist Financial by 17.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 236,352 shares of the insurance provider’s stock worth $9,182,000 after acquiring an additional 34,681 shares during the last quarter. EP Wealth Advisors LLC grew its stake in Truist Financial by 42.6% in the 2nd quarter. EP Wealth Advisors LLC now owns 8,914 shares of the insurance provider’s stock worth $346,000 after buying an additional 2,664 shares in the last quarter. 3Chopt Investment Partners LLC purchased a new stake in shares of Truist Financial during the 2nd quarter valued at $331,000. Finally, New Wave Wealth Advisors LLC purchased a new stake in Truist Financial during the second quarter valued at about $254,000. 71.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on TFC shares. Morgan Stanley boosted their price objective on shares of Truist Financial from $55.00 to $56.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. Citigroup increased their price objective on Truist Financial from $47.00 to $51.00 and gave the company a “neutral” rating in a research note on Monday, November 25th. Compass Point lifted their target price on shares of Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Stephens increased their price target on shares of Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Finally, Raymond James upped their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Eleven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Truist Financial has a consensus rating of “Moderate Buy” and an average target price of $50.79.

Insider Activity

In other news, CEO William H. Rogers, Jr. acquired 34,180 shares of Truist Financial stock in a transaction that occurred on Monday, November 25th. The stock was bought at an average price 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 owns 691,451 shares in the company, valued at $33,576,860.56. The trade was a 5.20 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director K. David Jr. Boyer sold 4,966 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total value of $229,429.20. Following the completion of the transaction, the director now directly owns 11,246 shares in the company, valued at $519,565.20. The trade was a 30.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.17% of the stock is owned by corporate insiders.

Truist Financial Price Performance

Shares of TFC opened at $47.44 on Thursday. The company has a market capitalization of $62.98 billion, a P/E ratio of 14.25, a price-to-earnings-growth ratio of 1.67 and a beta of 1.08. Truist Financial Co. has a twelve month low of $34.23 and a twelve month high of $49.06. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. The firm has a 50 day moving average of $45.51 and a 200 day moving average of $44.00.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The firm had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.05 billion. During the same period in the prior year, the company posted $0.81 earnings per share. The company’s quarterly revenue was up 3.4% on a year-over-year basis. As a group, equities research analysts anticipate that Truist Financial Co. will post 3.95 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.38%. Truist Financial’s dividend payout ratio is presently 62.46%.

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.