Truist Financial Co. (NYSE:TFC) Holdings Decreased by Kanawha Capital Management LLC

Kanawha Capital Management LLC trimmed its position in Truist Financial Co. (NYSE:TFC) by 0.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 260,398 shares of the insurance provider’s stock after selling 693 shares during the quarter. Kanawha Capital Management LLC’s holdings in Truist Financial were worth $11,296,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in TFC. AMF Tjanstepension AB bought a new stake in shares of Truist Financial in the 3rd quarter valued at approximately $3,208,000. Exchange Traded Concepts LLC grew its stake in Truist Financial by 395.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 2,007 shares of the insurance provider’s stock worth $86,000 after buying an additional 1,602 shares during the last quarter. CX Institutional grew its stake in Truist Financial by 8.5% during the 3rd quarter. CX Institutional now owns 8,734 shares of the insurance provider’s stock worth $374,000 after buying an additional 684 shares during the last quarter. Vontobel Holding Ltd. grew its stake in Truist Financial by 1.9% during the 3rd quarter. Vontobel Holding Ltd. now owns 22,317 shares of the insurance provider’s stock worth $954,000 after buying an additional 426 shares during the last quarter. Finally, B.O.S.S. Retirement Advisors LLC grew its stake in Truist Financial by 3.6% during the 3rd quarter. B.O.S.S. Retirement Advisors LLC now owns 40,135 shares of the insurance provider’s stock worth $1,717,000 after buying an additional 1,380 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director K. David Jr. Boyer sold 4,966 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was 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 owns 11,246 shares in the company, valued at $519,565.20. This represents a 30.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William H. Rogers, Jr. bought 34,180 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were acquired at an average price of $48.56 per share, with a total value of $1,659,780.80. Following the purchase, the chief executive officer now owns 691,451 shares in the company, valued at $33,576,860.56. This trade represents 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 currently owned by insiders.

Wall Street Analysts Forecast Growth

TFC has been the subject of several recent analyst reports. Raymond James increased their price target on Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Royal Bank of Canada increased their price target on Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Hsbc Global Res raised Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Compass Point upped their price objective on Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Finally, HSBC upgraded Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Tuesday, January 7th. Eleven equities 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.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.79.

Truist Financial Stock Performance

Shares of TFC stock opened at $46.46 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. Truist Financial Co. has a fifty-two week low of $34.26 and a fifty-two week high of $49.06. The stock’s 50-day moving average is $45.55 and its two-hundred day moving average is $44.32. The firm has a market cap of $61.67 billion, a P/E ratio of 13.95, a PEG ratio of 1.69 and a beta of 1.08.

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

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date of this dividend is Friday, February 14th. Truist Financial’s dividend payout ratio is 62.46%.

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.