Truist Financial Co. (NYSE:TFC) Shares Purchased by Stock Yards Bank & Trust Co.

Stock Yards Bank & Trust Co. boosted its stake in Truist Financial Co. (NYSE:TFC) by 4.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 104,430 shares of the insurance provider’s stock after purchasing an additional 4,523 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Truist Financial were worth $3,856,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. OFI Invest Asset Management acquired a new stake in Truist Financial in the 3rd quarter valued at $26,000. Operose Advisors LLC acquired a new stake in shares of Truist Financial during the third quarter valued at about $31,000. Tyler Stone Wealth Management acquired a new stake in shares of Truist Financial during the third quarter valued at about $33,000. Morton Brown Family Wealth LLC grew its stake in shares of Truist Financial by 236.0% during the fourth quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 649 shares in the last quarter. Finally, Authentikos Wealth Advisory LLC acquired a new stake in shares of Truist Financial during the third quarter valued at about $36,000. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on TFC. Barclays raised their target price on Truist Financial from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 2nd. Keefe, Bruyette & Woods raised their target price on Truist Financial from $44.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, April 5th. Morgan Stanley restated an “equal weight” rating and set a $43.00 target price on shares of Truist Financial in a research note on Monday. Jefferies Financial Group raised their target price on Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a research note on Monday, April 8th. Finally, Raymond James lifted their price target on Truist Financial from $34.00 to $41.00 and gave the stock an “outperform” rating in a research note on Friday, January 5th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $41.56.

Truist Financial Stock Performance

Shares of NYSE TFC opened at $38.04 on Tuesday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.74. The firm’s 50-day moving average price is $36.68 and its two-hundred day moving average price is $34.62. Truist Financial Co. has a 52-week low of $25.56 and a 52-week high of $39.29. The stock has a market capitalization of $50.77 billion, a P/E ratio of -35.22, a P/E/G ratio of 2.27 and a beta of 1.08.

Truist Financial (NYSE:TFC) last issued its earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.12. Truist Financial had a negative net margin of 3.28% and a positive return on equity of 9.64%. The firm had revenue of $4.87 billion for the quarter, compared to analysts’ expectations of $5.70 billion. During the same quarter last year, the company posted $1.09 earnings per share. Truist Financial’s revenue was down 8.8% on a year-over-year basis. As a group, sell-side analysts forecast that Truist Financial Co. will post 3.33 earnings per share for the current year.

Insiders Place Their Bets

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $37.48, for a total value of $141,074.72. Following the transaction, the director now owns 16,132 shares of the company’s stock, valued at $604,627.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.17% of the stock is currently owned by corporate insiders.

Truist Financial 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.