Atlantic Family Wealth LLC Purchases Shares of 5,108 Truist Financial Co. (NYSE:TFC)

Atlantic Family Wealth LLC bought a new position in shares of Truist Financial Co. (NYSE:TFC) during the fourth quarter, Holdings Channel.com reports. The fund bought 5,108 shares of the insurance provider’s stock, valued at approximately $222,000.

Other institutional investors also recently modified their holdings of the company. Bangor Savings Bank raised its position 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 worth $25,000 after purchasing an additional 272 shares during the period. Valley Wealth Managers Inc. acquired a new position in shares of Truist Financial during the third quarter worth approximately $26,000. MidAtlantic Capital Management Inc. bought a new stake in Truist Financial during the third quarter worth $32,000. Fortitude Family Office LLC grew its holdings in Truist Financial by 376.7% during the third quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock worth $37,000 after buying an additional 678 shares in the last quarter. Finally, Ashton Thomas Securities LLC bought a new stake in Truist Financial during the third quarter worth $45,000. 71.28% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Truist Financial news, Director K. David Jr. Boyer sold 4,966 shares of the firm’s 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 sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William H. Rogers, Jr. purchased 34,180 shares of the stock in a transaction on Monday, November 25th. The stock was acquired 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 in the company, valued at approximately $33,576,860.56. This represents a 5.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.17% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on TFC shares. StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, January 17th. Raymond James upped their price target on Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Piper Sandler upped their price target on Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Wells Fargo & Company upped their price target on Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, Citigroup upped their price target on Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $50.79.

Truist Financial Stock Down 2.1 %

TFC stock opened at $45.67 on Friday. The stock has a fifty day moving average of $45.61 and a 200-day moving average of $44.49. The company has a market capitalization of $60.62 billion, a price-to-earnings ratio of 13.71, a PEG ratio of 1.63 and a beta of 1.08. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. Truist Financial Co. has a fifty-two week low of $34.26 and a fifty-two week high of $49.06.

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 analysts’ consensus estimates of $0.88 by $0.03. The business had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.81 EPS. As a group, equities research analysts predict that Truist Financial Co. will post 4 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. Investors of record on Friday, February 14th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a yield of 4.55%. Truist Financial’s dividend payout ratio (DPR) is 62.46%.

Truist Financial 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.