North Star Investment Management Corp. Acquires 422 Shares of Truist Financial Co. (NYSE:TFC)

North Star Investment Management Corp. increased its holdings in shares of Truist Financial Co. (NYSE:TFC – Get Rating) by 0.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,329 shares of the insurance provider’s stock after acquiring an additional 422 shares during the period. North Star Investment Management Corp.’s holdings in Truist Financial were worth $2,510,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Dynamic Advisor Solutions LLC boosted its stake in Truist Financial by 1.2% during the third quarter. Dynamic Advisor Solutions LLC now owns 23,403 shares of the insurance provider’s stock worth $1,019,000 after acquiring an additional 274 shares in the last quarter. National Pension Service boosted its stake in Truist Financial by 3.6% during the third quarter. National Pension Service now owns 1,992,619 shares of the insurance provider’s stock worth $87,615,000 after acquiring an additional 69,309 shares in the last quarter. Bailard Inc. boosted its stake in Truist Financial by 2.4% during the third quarter. Bailard Inc. now owns 48,433 shares of the insurance provider’s stock worth $2,109,000 after acquiring an additional 1,133 shares in the last quarter. Stephens Inc. AR boosted its stake in Truist Financial by 6.1% during the third quarter. Stephens Inc. AR now owns 232,952 shares of the insurance provider’s stock worth $10,143,000 after acquiring an additional 13,348 shares in the last quarter. Finally, Captrust Financial Advisors raised its holdings in Truist Financial by 21.5% in the second quarter. Captrust Financial Advisors now owns 962,495 shares of the insurance provider’s stock worth $45,651,000 after buying an additional 170,239 shares during the last quarter. Institutional investors own 72.49% of the company’s stock.

Analyst Ratings Changes

TFC has been the subject of several recent analyst reports. TheStreet raised shares of Truist Financial from a “c+” rating to a “b-” rating in a report on Monday, January 23rd. Jefferies Financial Group raised shares of Truist Financial from a “hold” rating to a “buy” rating in a report on Monday, January 9th. Stephens cut shares of Truist Financial from an “overweight” rating to an “equal weight” rating and set a $53.00 target price for the company. in a report on Tuesday, January 31st. Keefe, Bruyette & Woods raised shares of Truist Financial from an “underperform” rating to a “market perform” rating and decreased their target price for the stock from $47.00 to $45.00 in a report on Sunday, March 12th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Truist Financial from a “buy” rating to a “hold” rating and decreased their target price for the stock from $61.00 to $48.00 in a report on Friday, January 6th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Truist Financial presently has an average rating of “Hold” and an average target price of $51.58.

Insider Buying and Selling at Truist Financial

In other Truist Financial news, insider Hugh S. Cummins III sold 35,229 shares of the company’s stock in a transaction that occurred on Friday, January 27th. The shares were sold at an average price of $49.05, for a total transaction of $1,727,982.45. Following the completion of the sale, the insider now directly owns 307,069 shares of the company’s stock, valued at $15,061,734.45. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Truist Financial news, insider Hugh S. Cummins III sold 35,229 shares of the company’s stock in a transaction that occurred on Friday, January 27th. The shares were sold at an average price of $49.05, for a total value of $1,727,982.45. Following the completion of the transaction, the insider now directly owns 307,069 shares in the company, valued at $15,061,734.45. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David M. Ratcliffe purchased 13,125 shares of the company’s stock in a transaction on Friday, March 10th. The stock was purchased at an average price of $38.08 per share, with a total value of $499,800.00. Following the completion of the transaction, the director now owns 39,025 shares of the company’s stock, valued at $1,486,072. The disclosure for this purchase can be found here. 0.31% of the stock is owned by corporate insiders.

Truist Financial Stock Down 7.2 %

Shares of TFC stock opened at $30.56 on Friday. Truist Financial Co. has a 12 month low of $28.70 and a 12 month high of $61.10. The stock has a market cap of $40.59 billion, a P/E ratio of 6.90, a P/E/G ratio of 1.37 and a beta of 1.10. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 0.80. The company has a 50 day simple moving average of $45.85 and a two-hundred day simple moving average of $44.97.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 1st. Shareholders of record on Friday, February 10th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, February 9th. This represents a $2.08 dividend on an annualized basis and a yield of 6.81%. Truist Financial’s dividend payout ratio is currently 46.95%.

Truist Financial Profile

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Truist Financial Corp. is a financial holding company, which engages in the provision of banking services to individuals, businesses, and municipalities. It operates through the following segments: Consumer Banking and Wealth, Corporate and Commercial Banking, Insurance Holdings, and Other, Treasury & Corporate.