Quent Capital LLC Purchases 350 Shares of Truist Financial Co. (NYSE:TFC)

Quent Capital LLC lifted its position in Truist Financial Co. (NYSE:TFC) by 15.4% during the 4th quarter, Holdings Channel reports. The firm owned 2,626 shares of the insurance provider’s stock after acquiring an additional 350 shares during the period. Quent Capital LLC’s holdings in Truist Financial were worth $114,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Community Bank & Trust Waco Texas grew its holdings in shares of Truist Financial by 20.0% in the fourth quarter. Community Bank & Trust Waco Texas now owns 15,286 shares of the insurance provider’s stock worth $663,000 after purchasing an additional 2,551 shares during the last quarter. Stonebridge Financial Group LLC bought a new position in shares of Truist Financial in the fourth quarter worth approximately $443,000. Summit Trail Advisors LLC grew its holdings in shares of Truist Financial by 18.4% in the fourth quarter. Summit Trail Advisors LLC now owns 18,028 shares of the insurance provider’s stock worth $782,000 after purchasing an additional 2,799 shares during the last quarter. POM Investment Strategies LLC grew its holdings in shares of Truist Financial by 119.0% in the fourth quarter. POM Investment Strategies LLC now owns 2,394 shares of the insurance provider’s stock worth $104,000 after purchasing an additional 1,301 shares during the last quarter. Finally, Global Wealth Management Investment Advisory Inc. grew its holdings in shares of Truist Financial by 4.8% in the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 81,823 shares of the insurance provider’s stock worth $3,550,000 after purchasing an additional 3,720 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on TFC shares. JPMorgan Chase & Co. raised their price target on Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Keefe, Bruyette & Woods raised their price target on Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 21st. The Goldman Sachs Group raised their price target on Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Piper Sandler raised their price target on Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Finally, Wells Fargo & Company raised their price target on Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Eleven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $50.79.

Insider Buying and Selling

In other Truist Financial news, CEO William H. Rogers, Jr. acquired 34,180 shares of Truist Financial stock in a transaction that occurred on Monday, November 25th. The stock was bought at an average cost of $48.56 per share, for a total transaction of $1,659,780.80. Following the acquisition, the chief executive officer now owns 691,451 shares of the company’s stock, valued at $33,576,860.56. This represents a 5.20 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director K. David Jr. Boyer sold 4,966 shares of Truist Financial stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total value of $229,429.20. Following the completion of the sale, the director now owns 11,246 shares of the company’s stock, valued at $519,565.20. The trade was a 30.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.17% of the stock is owned by corporate insiders.

Truist Financial Price Performance

TFC opened at $46.42 on Thursday. The stock has a 50-day moving average price of $45.55 and a 200-day moving average price of $44.30. 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 firm has a market cap of $61.62 billion, a PE ratio of 13.94, a P/E/G ratio of 1.69 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.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.03. The firm had revenue of $5.11 billion during 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%. Truist Financial’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.81 EPS. Sell-side analysts predict that Truist Financial Co. will post 3.98 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be issued 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 4.48%. Truist Financial’s payout ratio is 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.