Truist Financial Co. (NYSE:TFC) Shares Bought by RMR Wealth Builders

RMR Wealth Builders lifted its holdings in shares of Truist Financial Co. (NYSE:TFC) by 1.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 19,165 shares of the insurance provider’s stock after acquiring an additional 324 shares during the period. RMR Wealth Builders’ holdings in Truist Financial were worth $831,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Bangor Savings Bank grew its holdings in shares of Truist Financial by 92.5% during the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock valued at $25,000 after buying an additional 272 shares during the last quarter. Valley Wealth Managers Inc. acquired a new position in shares of Truist Financial in the third quarter valued at about $26,000. MidAtlantic Capital Management Inc. purchased a new position in shares of Truist Financial in the third quarter worth about $32,000. Fortitude Family Office LLC lifted its holdings in shares of Truist Financial by 376.7% during the third quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 678 shares during the period. Finally, Ashton Thomas Securities LLC purchased a new stake in Truist Financial in the third quarter valued at approximately $45,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on TFC shares. Compass Point lifted their price objective on shares of Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. UBS Group upped their price target on shares of Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a report on Friday, October 18th. Piper Sandler lifted their price objective on Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Hsbc Global Res raised Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Finally, Stephens restated an “overweight” rating and issued a $54.00 price objective on shares of Truist Financial in a research report on Thursday, January 2nd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $49.89.

Insider Activity at Truist Financial

In other Truist Financial news, Director K. David Jr. Boyer sold 4,966 shares of Truist Financial stock in a transaction that occurred 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 sale, the director now owns 11,246 shares of the company’s stock, valued at approximately $519,565.20. The trade was a 30.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William H. Rogers, Jr. bought 34,180 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were acquired at an average cost of $48.56 per share, with a total value of $1,659,780.80. Following the completion of the purchase, the chief executive officer now owns 691,451 shares in the company, valued at approximately $33,576,860.56. This represents a 5.20 % increase in their position. The disclosure for this purchase can be found here. 0.17% of the stock is currently owned by insiders.

Truist Financial Trading Up 3.4 %

TFC opened at $45.40 on Thursday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62. Truist Financial Co. has a 52 week low of $34.23 and a 52 week high of $49.06. The business’s 50 day moving average is $45.41 and its two-hundred day moving average is $43.46.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.08. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. The company had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $5.05 billion. Analysts predict that Truist Financial Co. will post 3.61 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 8th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.58%. The ex-dividend date was Friday, November 8th. Truist Financial’s dividend payout ratio is currently -145.45%.

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.