Franklin Street Advisors Inc. NC Increases Stock Position in Truist Financial Co. (NYSE:TFC)

Franklin Street Advisors Inc. NC grew its position in shares of Truist Financial Co. (NYSE:TFC) by 6.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,971 shares of the insurance provider’s stock after purchasing an additional 1,000 shares during the period. Franklin Street Advisors Inc. NC’s holdings in Truist Financial were worth $627,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in TFC. Douglas Lane & Associates LLC increased its stake in Truist Financial by 6.3% in the 3rd quarter. Douglas Lane & Associates LLC now owns 1,544,537 shares of the insurance provider’s stock worth $44,189,000 after acquiring an additional 91,579 shares during the last quarter. Loudon Investment Management LLC increased its position in Truist Financial by 18.5% in the third quarter. Loudon Investment Management LLC now owns 131,398 shares of the insurance provider’s stock worth $3,759,000 after purchasing an additional 20,490 shares during the last quarter. Pathstone Family Office LLC raised its stake in Truist Financial by 84.8% during the third quarter. Pathstone Family Office LLC now owns 97,317 shares of the insurance provider’s stock valued at $2,786,000 after purchasing an additional 44,659 shares in the last quarter. Cerity Partners LLC lifted its position in Truist Financial by 36.5% during the second quarter. Cerity Partners LLC now owns 679,604 shares of the insurance provider’s stock valued at $20,626,000 after purchasing an additional 181,828 shares during the last quarter. Finally, Qube Research & Technologies Ltd grew its stake in shares of Truist Financial by 37.8% in the 3rd quarter. Qube Research & Technologies Ltd now owns 2,700,400 shares of the insurance provider’s stock worth $77,258,000 after buying an additional 740,722 shares in the last quarter. 71.28% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TFC. Bank of America upgraded shares of Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 target price on the stock in a research report on Thursday, January 4th. Wells Fargo & Company lifted their target price on Truist Financial from $39.00 to $45.00 and gave the stock an “overweight” rating in a report on Thursday. Piper Sandler increased their price target on Truist Financial from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, January 19th. Morgan Stanley lifted their price objective on shares of Truist Financial from $38.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 30th. Finally, Barclays increased their target price on shares of Truist Financial from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $40.30.

Truist Financial Trading Up 1.0 %

Shares of NYSE TFC opened at $38.97 on Friday. The stock has a 50 day moving average price of $36.41 and a 200 day moving average price of $33.42. Truist Financial Co. has a 52-week low of $25.56 and a 52-week high of $39.29. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.74.

Truist Financial (NYSE:TFC) last issued its earnings results on Thursday, January 18th. The insurance provider reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.13. The business had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.70 billion. Truist Financial had a positive return on equity of 9.64% and a negative net margin of 3.28%. During the same period in the prior year, the business earned $1.30 EPS. As a group, equities analysts forecast that Truist Financial Co. will post 3.39 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 9th were issued a $0.52 dividend. The ex-dividend date was Thursday, February 8th. This represents a $2.08 annualized dividend and a dividend yield of 5.34%. Truist Financial’s dividend payout ratio is currently -192.59%.

Insider Transactions at Truist Financial

In related news, Director K. David Jr. Boyer sold 3,764 shares of Truist Financial stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $37.48, for a total transaction of $141,074.72. Following the transaction, the director now directly owns 16,132 shares of the company’s stock, valued at $604,627.36. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.17% of the company’s stock.

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.