Fifth Third Wealth Advisors LLC Purchases 6,813 Shares of Truist Financial Co. (NYSE:TFC)

Fifth Third Wealth Advisors LLC grew its position in shares of Truist Financial Co. (NYSE:TFC) by 44.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 22,104 shares of the insurance provider’s stock after acquiring an additional 6,813 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Truist Financial were worth $959,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Pines Wealth Management LLC purchased a new stake in Truist Financial in the fourth quarter worth $718,000. Mayfair Advisory Group LLC boosted its holdings in shares of Truist Financial by 12.8% during the 4th quarter. Mayfair Advisory Group LLC now owns 17,597 shares of the insurance provider’s stock valued at $763,000 after buying an additional 2,000 shares in the last quarter. Ignite Planners LLC grew its position in shares of Truist Financial by 1.4% in the 4th quarter. Ignite Planners LLC now owns 17,499 shares of the insurance provider’s stock worth $772,000 after buying an additional 246 shares during the period. Signal Advisors Wealth LLC bought a new position in shares of Truist Financial in the 4th quarter worth about $239,000. Finally, FNY Investment Advisers LLC lifted its position in Truist Financial by 62.5% during the 4th quarter. FNY Investment Advisers LLC now owns 1,300 shares of the insurance provider’s stock valued at $56,000 after acquiring an additional 500 shares during the period. Institutional investors own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on TFC shares. Keefe, Bruyette & Woods upped their price objective on shares of Truist Financial from $48.00 to $49.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. 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. Compass Point raised their price objective on Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. HSBC raised Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Tuesday, January 7th. Finally, Barclays raised their price target on Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Truist Financial has an average rating of “Moderate Buy” and an average price target of $49.89.

Insider Activity

In related news, CEO William H. Rogers, Jr. acquired 34,180 shares of Truist Financial stock in a transaction dated Monday, November 25th. The stock was purchased at an average cost of $48.56 per share, for a total transaction of $1,659,780.80. Following the purchase, the chief executive officer now directly owns 691,451 shares of the company’s stock, valued at approximately $33,576,860.56. This trade represents a 5.20 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director K. David Jr. Boyer sold 4,966 shares of the firm’s stock in a transaction on 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 transaction, the director now directly owns 11,246 shares in the company, valued at approximately $519,565.20. This represents a 30.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.17% of the company’s stock.

Truist Financial Trading Up 3.4 %

Shares of TFC stock opened at $45.40 on Thursday. The firm’s 50 day moving average is $45.41 and its 200 day moving average is $43.46. The stock has a market capitalization of $60.27 billion, a P/E ratio of -31.75, a P/E/G ratio of 1.88 and a beta of 1.08. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.62. Truist Financial Co. has a 12-month low of $34.23 and a 12-month high of $49.06.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 EPS for the quarter, topping the consensus estimate of $0.89 by $0.08. The company had revenue of $5.09 billion during the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. Research analysts expect that Truist Financial Co. will post 3.7 earnings per share for the current year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 8th were given a $0.52 dividend. The ex-dividend date was Friday, November 8th. This represents a $2.08 annualized dividend and a yield of 4.58%. Truist Financial’s payout ratio is -145.45%.

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.