Shepherd Financial Partners LLC Boosts Holdings in Truist Financial Co. (NYSE:TFC)

Shepherd Financial Partners LLC increased its stake in shares of Truist Financial Co. (NYSE:TFC) by 3.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,477 shares of the insurance provider’s stock after acquiring an additional 321 shares during the quarter. Shepherd Financial Partners LLC’s holdings in Truist Financial were worth $454,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in Truist Financial by 48.7% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,963 shares of the insurance provider’s stock valued at $129,000 after acquiring an additional 971 shares during the period. Principal Financial Group Inc. grew its position in shares of Truist Financial by 3.5% in the third quarter. Principal Financial Group Inc. now owns 1,511,299 shares of the insurance provider’s stock valued at $64,638,000 after purchasing an additional 50,637 shares during the period. Cadence Bank boosted its holdings in shares of Truist Financial by 101.6% in the 3rd quarter. Cadence Bank now owns 185,184 shares of the insurance provider’s stock valued at $7,920,000 after purchasing an additional 93,322 shares during the last quarter. Country Club Bank increased its position in Truist Financial by 719.8% during the 4th quarter. Country Club Bank now owns 45,499 shares of the insurance provider’s stock worth $1,973,000 after purchasing an additional 39,949 shares in the last quarter. Finally, Boston Common Asset Management LLC boosted its position in shares of Truist Financial by 66.4% in the third quarter. Boston Common Asset Management LLC now owns 154,523 shares of the insurance provider’s stock worth $6,609,000 after buying an additional 61,683 shares during the period. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on TFC shares. Piper Sandler boosted their price objective on Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. JPMorgan Chase & Co. lifted their price objective on shares of Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Citigroup lifted their price target on Truist Financial from $47.00 to $51.00 and gave the company a “neutral” rating in a research report on Monday, November 25th. Morgan Stanley raised their target price 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. Finally, Keefe, Bruyette & Woods raised their target price on shares of Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” rating in a report on Tuesday, January 21st. Eleven research 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 stock. Based on data from MarketBeat, Truist Financial has an average rating of “Moderate Buy” and an average price target of $50.79.

Truist Financial Stock Performance

Shares of TFC opened at $47.68 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. The company has a market cap of $63.30 billion, a PE ratio of 14.32, a P/E/G ratio of 1.69 and a beta of 1.08. Truist Financial Co. has a one year low of $34.23 and a one year high of $49.06. The stock has a 50-day moving average of $45.53 and a 200-day moving average of $44.23.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. The company had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. Truist Financial’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period last year, the firm posted $0.81 EPS. On average, equities research analysts predict that Truist Financial Co. will post 3.98 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.08 annualized dividend and a dividend yield of 4.36%. Truist Financial’s dividend payout ratio is presently 62.46%.

Insiders Place Their Bets

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

About Truist Financial

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.