LaFleur & Godfrey LLC Boosts Stake in Truist Financial Co. (NYSE:TFC)

LaFleur & Godfrey LLC boosted its stake in Truist Financial Co. (NYSE:TFC) by 2.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 103,583 shares of the insurance provider’s stock after buying an additional 2,202 shares during the quarter. LaFleur & Godfrey LLC’s holdings in Truist Financial were worth $3,824,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fairfield Bush & CO. acquired a new position in Truist Financial in the first quarter valued at $25,000. United Bank raised its position in Truist Financial by 4.1% in the first quarter. United Bank now owns 74,457 shares of the insurance provider’s stock valued at $4,222,000 after purchasing an additional 2,938 shares during the period. Panagora Asset Management Inc. raised its position in Truist Financial by 33.3% in the first quarter. Panagora Asset Management Inc. now owns 26,365 shares of the insurance provider’s stock valued at $1,495,000 after purchasing an additional 6,593 shares during the period. Vontobel Holding Ltd. raised its position in Truist Financial by 3.3% in the first quarter. Vontobel Holding Ltd. now owns 22,951 shares of the insurance provider’s stock valued at $1,348,000 after purchasing an additional 738 shares during the period. Finally, Blair William & Co. IL raised its position in Truist Financial by 8.1% in the first quarter. Blair William & Co. IL now owns 56,690 shares of the insurance provider’s stock valued at $3,214,000 after purchasing an additional 4,234 shares during the period. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Price Performance

NYSE:TFC traded up $0.32 during midday trading on Wednesday, hitting $37.92. 1,872,928 shares of the stock were exchanged, compared to its average volume of 9,839,948. Truist Financial Co. has a one year low of $25.56 and a one year high of $38.55. The company has a market capitalization of $50.61 billion, a price-to-earnings ratio of -34.81, a P/E/G ratio of 1.58 and a beta of 1.07. The business has a 50-day moving average price of $36.33 and a two-hundred day moving average price of $33.33. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.74.

Truist Financial (NYSE:TFC) last announced its earnings results on Thursday, January 18th. The insurance provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.68 by $0.13. The firm had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.70 billion. Truist Financial had a positive return on equity of 9.64% and a negative net margin of 3.28%. During the same quarter in the previous year, the company earned $1.30 earnings per share. Sell-side analysts predict that Truist Financial Co. will post 3.39 EPS for the current year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 5.49%. The ex-dividend date was Thursday, February 8th. Truist Financial’s dividend payout ratio (DPR) is currently -192.59%.

Insider Buying and Selling at Truist Financial

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $37.48, for a total transaction of $141,074.72. Following the sale, the director now directly owns 16,132 shares of the company’s stock, valued at approximately $604,627.36. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on TFC. Odeon Capital Group raised Truist Financial from a “hold” rating to a “buy” rating and set a $40.45 price objective on the stock in a research report on Thursday, December 14th. StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, March 20th. Raymond James lifted their target price on Truist Financial from $34.00 to $41.00 and gave the stock an “outperform” rating in a research report on Friday, January 5th. Royal Bank of Canada lifted their target price on Truist Financial from $40.00 to $42.00 and gave the stock an “outperform” rating in a research report on Friday, January 19th. Finally, Barclays lifted their target price on Truist Financial from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 2nd. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $39.47.

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.