Eads & Heald Wealth Management Raises Holdings in Truist Financial Co. (NYSE:TFC)

Eads & Heald Wealth Management lifted its stake in Truist Financial Co. (NYSE:TFC) by 28.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 17,939 shares of the insurance provider’s stock after acquiring an additional 3,925 shares during the period. Eads & Heald Wealth Management’s holdings in Truist Financial were worth $778,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Bangor Savings Bank increased its holdings in Truist Financial by 92.5% in the 4th 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 in the 3rd quarter valued at $26,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Truist Financial in the third quarter worth $32,000. Fortitude Family Office LLC raised 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 last quarter. Finally, Ashton Thomas Securities LLC acquired a new position in Truist Financial during the third quarter valued at $45,000. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Stock Up 0.5 %

TFC stock opened at $47.90 on Wednesday. The stock has a market capitalization of $63.58 billion, a PE ratio of 14.38, a price-to-earnings-growth ratio of 1.84 and a beta of 1.08. The company has a fifty day moving average of $45.43 and a 200-day moving average of $43.66. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. Truist Financial Co. has a one year low of $34.23 and a one year high of $49.06.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. The firm had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5,047,370 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The firm’s revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.81 earnings per share. As a group, analysts expect that Truist Financial Co. will post 3.9 EPS for the current year.

Wall Street Analysts Forecast Growth

TFC has been the subject of a number of recent research reports. Raymond James lifted their price objective on Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Piper Sandler lifted their price target on Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Wells Fargo & Company upped their price objective on Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Compass Point lifted their target price on shares of Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Finally, UBS Group increased their price target on shares of Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Eleven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $50.79.

Insider Buying and Selling

In related news, Director K. David Jr. Boyer sold 4,966 shares of the company’s 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 in the company, valued at $519,565.20. This represents a 30.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO William H. Rogers, Jr. acquired 34,180 shares of Truist Financial stock in a transaction that occurred on Monday, November 25th. The shares were purchased at an average cost of $48.56 per share, with a total value of $1,659,780.80. Following the completion of the acquisition, the chief executive officer now owns 691,451 shares of the company’s stock, valued at $33,576,860.56. The trade was 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 corporate insiders.

About Truist Financial

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.