Heritage Trust Co grew its holdings in shares of Truist Financial Co. (NYSE:TFC) by 0.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,171 shares of the insurance provider’s stock after purchasing an additional 358 shares during the period. Heritage Trust Co’s holdings in Truist Financial were worth $2,285,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also bought and sold shares of the company. Atlas Private Wealth Advisors boosted its position in shares of Truist Financial by 890.9% during the 1st quarter. Atlas Private Wealth Advisors now owns 436 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 392 shares in the last quarter. Evolution Wealth Advisors LLC boosted its holdings in shares of Truist Financial by 274.1% in the first quarter. Evolution Wealth Advisors LLC now owns 505 shares of the insurance provider’s stock worth $29,000 after buying an additional 370 shares during the period. RWM Asset Management LLC acquired a new position in shares of Truist Financial in the fourth quarter worth about $30,000. Mascoma Wealth Management LLC acquired a new position in shares of Truist Financial in the first quarter worth about $30,000. Finally, Sterling Financial Planning Inc. acquired a new position in shares of Truist Financial in the fourth quarter worth about $36,000. Institutional investors own 71.96% of the company’s stock.
In other Truist Financial news, EVP Michael Baron Maguire sold 3,250 shares of the stock in a transaction that occurred on Monday, April 19th. The stock was sold at an average price of $58.16, for a total transaction of $189,020.00. Following the transaction, the executive vice president now owns 7,027 shares in the company, valued at $408,690.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Scott Case sold 9,851 shares of the stock in a transaction that occurred on Wednesday, March 17th. The shares were sold at an average price of $58.39, for a total value of $575,199.89. Following the transaction, the executive vice president now owns 20,583 shares in the company, valued at approximately $1,201,841.37. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,997 shares of company stock worth $1,223,463. Insiders own 0.37% of the company’s stock.
Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Wednesday, April 14th. The insurance provider reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.07. The firm had revenue of $5.48 billion for the quarter, compared to analyst estimates of $5.43 billion. Truist Financial had a net margin of 20.04% and a return on equity of 9.48%. The company’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.83 earnings per share. On average, equities analysts forecast that Truist Financial Co. will post 4.68 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 1st. Investors of record on Friday, May 14th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 3.11%. The ex-dividend date was Thursday, May 13th. Truist Financial’s payout ratio is presently 47.37%.
Several brokerages have commented on TFC. JPMorgan Chase & Co. raised their target price on shares of Truist Financial from $60.50 to $63.00 in a report on Monday, May 3rd. Compass Point raised their target price on shares of Truist Financial from $65.00 to $67.00 and gave the stock a “buy” rating in a report on Tuesday, May 18th. Raymond James reiterated a “market perform” rating on shares of Truist Financial in a report on Monday, May 17th. Barclays raised their target price on shares of Truist Financial from $59.00 to $64.00 in a report on Wednesday, April 7th. Finally, Stephens raised their target price on shares of Truist Financial from $54.00 to $66.00 in a report on Tuesday, March 30th. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Truist Financial currently has an average rating of “Hold” and an average price target of $58.27.
Truist Financial Profile
Truist Financial Corporation, a holding 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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