Lbmc Investment Advisors LLC Boosts Stake in Truist Financial Co. (NYSE:TFC)

Lbmc Investment Advisors LLC lifted its holdings in Truist Financial Co. (NYSE:TFC) by 3.9% in the fourth quarter, Holdings Channel reports. The firm owned 8,415 shares of the insurance provider’s stock after buying an additional 317 shares during the period. Lbmc Investment Advisors LLC’s holdings in Truist Financial were worth $365,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Bangor Savings Bank raised 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 worth $25,000 after purchasing an additional 272 shares during the last quarter. Valley Wealth Managers Inc. purchased a new position in Truist Financial during the third quarter worth approximately $26,000. MidAtlantic Capital Management Inc. acquired a new stake in Truist Financial in the 3rd quarter valued at $32,000. Fortitude Family Office LLC increased its stake 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 in the last quarter. Finally, Ashton Thomas Securities LLC acquired a new position in shares of Truist Financial during the third quarter valued at approximately $45,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TFC. Royal Bank of Canada increased their price target on shares of Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Barclays increased their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday. JPMorgan Chase & Co. raised their price target on Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Finally, Stephens reaffirmed an “overweight” rating and issued a $54.00 price objective on shares of Truist Financial in a research note on Thursday, January 2nd. Eleven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $49.95.

Insider Transactions at Truist Financial

In other news, CEO William H. Rogers, Jr. bought 34,180 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was purchased at an average cost of $48.56 per share, with a total value of $1,659,780.80. Following the transaction, the chief executive officer now directly owns 691,451 shares in the company, valued at $33,576,860.56. This trade represents a 5.20 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director K. David Jr. Boyer sold 4,966 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total value of $229,429.20. Following the completion of the sale, the director now owns 11,246 shares of the company’s stock, valued at approximately $519,565.20. This represents a 30.63 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.17% of the company’s stock.

Truist Financial Trading Up 5.9 %

NYSE:TFC opened at $47.63 on Friday. Truist Financial Co. has a 12 month low of $34.23 and a 12 month high of $49.06. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.85 and a quick ratio of 0.85. The business’s fifty day moving average price is $45.40 and its 200 day moving average price is $43.54.

Truist Financial (NYSE:TFC) last issued its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.03. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. The business had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5,047,370 billion. During the same quarter last year, the company earned $0.81 EPS. The business’s quarterly revenue was up 3.4% on a year-over-year basis. Analysts anticipate that Truist Financial Co. will post 3.61 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 8th were issued a dividend of $0.52 per share. The ex-dividend date was Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.37%. Truist Financial’s 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.