Kingsview Wealth Management LLC Acquires 947 Shares of Truist Financial Co. (NYSE:TFC)

Kingsview Wealth Management LLC increased its position in shares of Truist Financial Co. (NYSE:TFC) by 0.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 155,289 shares of the insurance provider’s stock after buying an additional 947 shares during the period. Kingsview Wealth Management LLC’s holdings in Truist Financial were worth $6,736,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Bangor Savings Bank increased its stake in shares of Truist Financial by 92.5% during the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock valued at $25,000 after buying an additional 272 shares during the period. Valley Wealth Managers Inc. purchased a new position in shares of Truist Financial during the third quarter valued at $26,000. MidAtlantic Capital Management Inc. purchased a new position in shares of Truist Financial during the third quarter valued at $32,000. Fortitude Family Office LLC grew its stake in Truist Financial by 376.7% in the third quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock valued at $37,000 after purchasing an additional 678 shares during the last quarter. Finally, Ashton Thomas Securities LLC bought a new position in Truist Financial in the third quarter worth about $45,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Insider Activity

In other Truist Financial news, CEO William H. Rogers, Jr. bought 34,180 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were purchased at an average price 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 represents a 5.20 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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 value of $229,429.20. Following the transaction, the director now owns 11,246 shares in the company, valued at $519,565.20. This trade represents a 30.63 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

TFC has been the subject of a number of recent research reports. Citigroup boosted their target price on shares of Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a report on Monday, November 25th. Barclays boosted their target price on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Stephens upped their price objective on shares of Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Keefe, Bruyette & Woods upped their price objective on shares of Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Tuesday, January 21st. Finally, Hsbc Global Res upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Eleven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Truist Financial has an average rating of “Moderate Buy” and an average price target of $50.79.

Truist Financial Trading Down 1.0 %

Truist Financial stock opened at $47.68 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. Truist Financial Co. has a 12 month low of $34.23 and a 12 month high of $49.06. The stock’s 50 day simple moving average is $45.53 and its two-hundred day simple moving average is $44.26. The firm 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 (NYSE:TFC) last released its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $5.05 billion. During the same quarter in the prior year, the firm posted $0.81 EPS. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. Analysts anticipate that Truist Financial Co. will post 3.98 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently disclosed 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 annualized dividend and a yield of 4.36%. Truist Financial’s dividend payout ratio is presently 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.