MADDEN SECURITIES Corp Trims Stock Holdings in Truist Financial Co. (NYSE:TFC)

MADDEN SECURITIES Corp cut its holdings in shares of Truist Financial Co. (NYSE:TFC) by 2.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,900 shares of the insurance provider’s stock after selling 600 shares during the period. MADDEN SECURITIES Corp’s holdings in Truist Financial were worth $1,080,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Truist Financial by 48.7% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,963 shares of the insurance provider’s stock valued at $129,000 after buying an additional 971 shares during the last quarter. Principal Financial Group Inc. increased its position in Truist Financial by 3.5% in the 3rd quarter. Principal Financial Group Inc. now owns 1,511,299 shares of the insurance provider’s stock valued at $64,638,000 after acquiring an additional 50,637 shares during the period. Cadence Bank raised its stake in Truist Financial by 101.6% during the 3rd quarter. Cadence Bank now owns 185,184 shares of the insurance provider’s stock valued at $7,920,000 after acquiring an additional 93,322 shares during the last quarter. Country Club Bank lifted its position in Truist Financial by 719.8% during the 4th quarter. Country Club Bank now owns 45,499 shares of the insurance provider’s stock worth $1,973,000 after acquiring an additional 39,949 shares during the period. Finally, Independent Advisor Alliance grew its stake in shares of Truist Financial by 10.7% in the 3rd quarter. Independent Advisor Alliance now owns 282,607 shares of the insurance provider’s stock valued at $12,087,000 after purchasing an additional 27,408 shares during the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Stock Performance

Shares of TFC opened at $47.15 on Tuesday. Truist Financial Co. has a 12-month low of $34.23 and a 12-month high of $49.06. The stock has a market cap of $62.60 billion, a P/E ratio of 14.16, a PEG ratio of 1.69 and a beta of 1.08. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The company has a 50-day moving average of $45.53 and a two-hundred day moving average of $44.26.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data 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 the consensus estimate of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.81 EPS. As a group, research analysts predict that Truist Financial Co. will post 3.98 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date is Friday, February 14th. Truist Financial’s payout ratio is currently 62.46%.

Insider Buying and Selling

In other news, CEO William H. Rogers, Jr. bought 34,180 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 691,451 shares in the company, valued at $33,576,860.56. The trade was a 5.20 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director K. David Jr. Boyer sold 4,966 shares of the business’s stock in a transaction 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 completion of the transaction, the director now owns 11,246 shares of the company’s stock, valued at $519,565.20. This trade represents 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 currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on TFC. Royal Bank of Canada upped their price target on Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Barclays raised their target price on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. The Goldman Sachs Group boosted their price target on shares of Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. JPMorgan Chase & Co. raised their price objective on shares of Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Finally, Citigroup boosted their target price on Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. Eleven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Truist Financial presently has a consensus rating of “Moderate Buy” and an average target price of $50.79.

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.