Truist Financial Co. (NYSE:TFC) Shares Bought by Cornerstone Wealth Group LLC

Cornerstone Wealth Group LLC lifted its stake in shares of Truist Financial Co. (NYSE:TFC) by 3.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 126,063 shares of the insurance provider’s stock after purchasing an additional 4,045 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Truist Financial were worth $5,469,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in TFC. Bangor Savings Bank grew its position in 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 buying an additional 272 shares during the period. Valley Wealth Managers Inc. purchased a new stake in shares of Truist Financial during the 3rd quarter worth approximately $26,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Truist Financial in the 3rd quarter worth approximately $32,000. Fortitude Family Office LLC increased its stake in Truist Financial by 376.7% in the 3rd quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock valued at $37,000 after purchasing an additional 678 shares in the last quarter. Finally, Ashton Thomas Securities LLC acquired a new position in Truist Financial during the third quarter worth $45,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Performance

Shares of TFC stock opened at $46.96 on Monday. 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 market cap of $62.34 billion, a PE ratio of 14.10, a P/E/G ratio of 1.67 and a beta of 1.08. The company’s fifty day simple moving average is $45.48 and its 200-day simple moving average is $43.87. Truist Financial Co. has a 52 week low of $34.23 and a 52 week high of $49.06.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.88 by $0.03. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The company had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5,047,370 billion. During the same period last year, the company posted $0.81 earnings per share. The firm’s revenue was up 3.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Truist Financial Co. will post 3.95 EPS for the current year.

Analyst Ratings Changes

TFC has been the topic of several research reports. Wells Fargo & Company upped their target price on Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Stephens raised their target price on shares of Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. The Goldman Sachs Group upped their price target on shares of Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Hsbc Global Res raised shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Finally, JPMorgan Chase & Co. upped their target price on Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Eleven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.79.

Insider Buying and Selling at Truist Financial

In other Truist Financial news, CEO William H. Rogers, Jr. acquired 34,180 shares of the stock in a transaction on Monday, November 25th. The stock was purchased at an average price 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 in the company, valued at $33,576,860.56. This trade represents a 5.20 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director K. David Jr. Boyer sold 4,966 shares of the company’s stock in a transaction that occurred 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 directly owns 11,246 shares in the company, valued at approximately $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 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.