Kennebec Savings Bank Buys 313 Shares of Truist Financial Co. (NYSE:TFC)

Kennebec Savings Bank increased its stake in Truist Financial Co. (NYSE:TFC) by 3.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,208 shares of the insurance provider’s stock after buying an additional 313 shares during the period. Kennebec Savings Bank’s holdings in Truist Financial were worth $440,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sonora Investment Management Group LLC raised its position in shares of Truist Financial by 1.5% in the 4th quarter. Sonora Investment Management Group LLC now owns 335,203 shares of the insurance provider’s stock worth $14,541,000 after acquiring an additional 4,965 shares in the last quarter. Crews Bank & Trust purchased a new position in Truist Financial during the fourth quarter valued at $1,677,000. Capital Investment Advisory Services LLC boosted its holdings in shares of Truist Financial by 0.7% during the 4th quarter. Capital Investment Advisory Services LLC now owns 250,434 shares of the insurance provider’s stock valued at $10,864,000 after buying an additional 1,832 shares in the last quarter. Foster & Motley Inc. grew its position in shares of Truist Financial by 45.4% in the 4th quarter. Foster & Motley Inc. now owns 16,051 shares of the insurance provider’s stock worth $696,000 after buying an additional 5,014 shares during the period. Finally, Ibex Wealth Advisors increased its stake in shares of Truist Financial by 842.2% in the 4th quarter. Ibex Wealth Advisors now owns 175,781 shares of the insurance provider’s stock worth $7,625,000 after acquiring an additional 157,125 shares in the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Truist Financial

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

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. 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 research note on Tuesday, January 21st. Keefe, Bruyette & Woods lifted their price objective on Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a research note on Tuesday, January 21st. Wells Fargo & Company boosted their target price on Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Barclays lifted their price target on Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Finally, StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. Eleven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $50.79.

Truist Financial Trading Up 1.2 %

Shares of TFC stock opened at $48.02 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 $63.75 billion, a price-to-earnings ratio of 14.42, a PEG ratio of 1.68 and a beta of 1.08. Truist Financial Co. has a 1 year low of $34.23 and a 1 year high of $49.06. The firm has a fifty day moving average price of $45.53 and a 200-day moving average price of $44.02.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, topping 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 business had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.05 billion. During the same quarter in the prior year, the business posted $0.81 earnings per share. The business’s quarterly revenue was up 3.4% on a year-over-year basis. As a group, equities analysts predict that Truist Financial Co. will post 3.95 earnings per share for the current year.

Truist Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be given 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 4.33%. Truist Financial’s payout ratio is currently 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.