Csenge Advisory Group Reduces Position in Truist Financial Co. (NYSE:TFC)

Csenge Advisory Group lowered its stake in Truist Financial Co. (NYSE:TFC) by 11.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 100,772 shares of the insurance provider’s stock after selling 12,729 shares during the period. Csenge Advisory Group’s holdings in Truist Financial were worth $4,371,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Bangor Savings Bank raised its stake 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 acquiring 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 boosted its position in Truist Financial by 376.7% in the third quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock valued at $37,000 after buying an additional 678 shares during the last quarter. Finally, Ashton Thomas Securities LLC acquired a new position in Truist Financial in the 3rd quarter worth approximately $45,000. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Truist Financial

In other news, Director K. David Jr. Boyer sold 4,966 shares of the company’s stock in a transaction 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 transaction, the director now owns 11,246 shares of the company’s stock, valued at $519,565.20. This represents a 30.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William H. Rogers, Jr. acquired 34,180 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 691,451 shares in the company, valued at approximately $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 company insiders.

Analyst Upgrades and Downgrades

TFC has been the subject of several research reports. Raymond James upped their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. HSBC raised Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods boosted their price objective on Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Tuesday, January 21st. Citigroup lifted their price target on Truist Financial from $47.00 to $51.00 and gave the company a “neutral” rating in a research report on Monday, November 25th. Finally, Morgan Stanley raised their price objective on shares of Truist Financial from $55.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 21st. Eleven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $50.79.

Truist Financial Trading Up 0.7 %

TFC opened at $46.80 on Friday. The firm has a market capitalization of $62.13 billion, a price-to-earnings ratio of 14.06, a price-to-earnings-growth ratio of 1.69 and a beta of 1.08. The company’s 50 day simple moving average is $45.53 and its two-hundred day simple moving average is $44.35. Truist Financial Co. has a 1-year low of $34.26 and a 1-year high of $49.06. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83.

Truist Financial (NYSE:TFC) last issued its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.03. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The company had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.05 billion. During the same period in the prior year, the business earned $0.81 EPS. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. Analysts expect that Truist Financial Co. will post 3.98 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.44%. The ex-dividend date is Friday, February 14th. Truist Financial’s dividend payout ratio (DPR) is presently 62.46%.

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.