Truist Financial Co. (NYSE:TFC) Shares Acquired by Avestar Capital LLC

Avestar Capital LLC raised its stake in shares of Truist Financial Co. (NYSE:TFC) by 4.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 6,299 shares of the insurance provider’s stock after purchasing an additional 250 shares during the period. Avestar Capital LLC’s holdings in Truist Financial were worth $273,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Bangor Savings Bank grew its holdings in shares of Truist Financial by 92.5% in the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 272 shares in the last quarter. Valley Wealth Managers Inc. acquired a new position in shares of Truist Financial in the third quarter valued at approximately $26,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Truist Financial in the third quarter valued at approximately $32,000. Fortitude Family Office LLC grew its holdings in shares of 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 purchasing an additional 678 shares in the last quarter. Finally, Ashton Thomas Securities LLC acquired a new position in shares of Truist Financial in the third quarter valued at approximately $45,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Up 0.7 %

TFC stock opened at $46.80 on Friday. The company has a fifty day moving average price of $45.54 and a 200 day moving average price of $44.33. Truist Financial Co. has a 12 month low of $34.26 and a 12 month high of $49.06. The company has a market cap 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 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 announced its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. The company had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.05 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. Truist Financial’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.81 EPS. Sell-side analysts expect that Truist Financial Co. will post 3.98 earnings per share for the current year.

Truist Financial Dividend Announcement

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

Insiders Place Their Bets

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 shares were sold at an average price of $46.20, for a total transaction of $229,429.20. Following the transaction, the director now directly owns 11,246 shares of the company’s stock, valued at $519,565.20. This represents a 30.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William H. Rogers, Jr. purchased 34,180 shares of the stock in a transaction dated Monday, November 25th. The shares were bought at an average cost of $48.56 per share, for a total transaction 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 trade represents a 5.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.17% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. HSBC upgraded shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Tuesday, January 7th. StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, January 17th. The Goldman Sachs Group boosted their price target on shares of Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. UBS Group boosted 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. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” rating in a report on Tuesday, January 21st. Eleven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $50.79.

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.