Stock Yards Bank & Trust Co. Buys 4,523 Shares of Truist Financial Co. (NYSE:TFC)

Stock Yards Bank & Trust Co. raised its stake in shares of Truist Financial Co. (NYSE:TFCFree Report) by 4.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 104,430 shares of the insurance provider’s stock after acquiring an additional 4,523 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Truist Financial were worth $3,856,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Morton Brown Family Wealth LLC increased its holdings in shares of Truist Financial by 236.0% during the 4th quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 649 shares during the period. OFI Invest Asset Management bought a new stake in Truist Financial in the third quarter valued at about $26,000. Criterion Capital Advisors LLC bought a new stake in Truist Financial in the fourth quarter valued at about $38,000. Operose Advisors LLC bought a new stake in Truist Financial in the third quarter valued at about $31,000. Finally, Tyler Stone Wealth Management bought a new stake in Truist Financial in the third quarter valued at about $33,000. Institutional investors own 71.28% of the company’s stock.

Insider Transactions at Truist Financial

In related news, Director K. David Jr. Boyer sold 3,764 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $37.48, for a total value of $141,074.72. Following the transaction, the director now directly owns 16,132 shares in the company, valued at $604,627.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.17% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

TFC has been the topic of a number of analyst reports. Royal Bank of Canada upped their target price on shares of Truist Financial from $40.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. StockNews.com cut shares of Truist Financial from a “hold” rating to a “sell” rating in a research note on Thursday, March 28th. Keefe, Bruyette & Woods boosted their price target on shares of Truist Financial from $44.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, April 5th. Wells Fargo & Company boosted their price target on shares of Truist Financial from $39.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Finally, Bank of America upgraded shares of Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 price target on the stock in a research report on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Truist Financial currently has a consensus rating of “Moderate Buy” and an average price target of $41.56.

Check Out Our Latest Analysis on TFC

Truist Financial Price Performance

Shares of TFC stock opened at $38.04 on Tuesday. Truist Financial Co. has a 1 year low of $25.56 and a 1 year high of $39.29. The firm’s 50 day moving average is $36.68 and its 200-day moving average is $34.62. The firm has a market capitalization of $50.77 billion, a price-to-earnings ratio of -35.22, a PEG ratio of 2.27 and a beta of 1.08. 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:TFCGet Free Report) last announced its earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.12. Truist Financial had a negative net margin of 3.28% and a positive return on equity of 9.64%. The company had revenue of $4.87 billion for the quarter, compared to analyst estimates of $5.70 billion. During the same period in the prior year, the business earned $1.09 earnings per share. Truist Financial’s quarterly revenue was down 8.8% on a year-over-year basis. Sell-side analysts forecast that Truist Financial Co. will post 3.33 EPS for the current fiscal year.

Truist Financial Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Truist Financial (NYSE:TFC)

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