Abundance Wealth Counselors Buys 673 Shares of Truist Financial Co. (NYSE:TFC)

Abundance Wealth Counselors grew its stake in shares of Truist Financial Co. (NYSE:TFC) by 1.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 41,387 shares of the insurance provider’s stock after buying an additional 673 shares during the period. Abundance Wealth Counselors’ holdings in Truist Financial were worth $1,795,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Bangor Savings Bank increased its stake in 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. bought a new position in Truist Financial during the third quarter worth about $26,000. MidAtlantic Capital Management Inc. acquired a new position in Truist Financial in the third quarter valued at about $32,000. Fortitude Family Office LLC increased 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 worth $37,000 after acquiring an additional 678 shares in the last quarter. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of Truist Financial during the third quarter worth about $45,000. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Price Performance

Truist Financial stock opened at $47.64 on Friday. The firm has a market cap of $63.24 billion, a PE ratio of 14.31, a price-to-earnings-growth ratio of 1.68 and a beta of 1.08. Truist Financial Co. has a one year low of $34.23 and a one 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. The stock’s fifty day moving average price is $45.55 and its two-hundred day moving average price is $44.09.

Truist Financial (NYSE:TFC) last issued its earnings results on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.88 by $0.03. The company had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.81 EPS. As a group, research analysts expect that Truist Financial Co. will post 3.95 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.37%. Truist Financial’s payout ratio is currently 62.46%.

Insider Activity at Truist Financial

In related news, CEO William H. Rogers, Jr. purchased 34,180 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was bought at an average price 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 acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director K. David Jr. Boyer sold 4,966 shares of the company’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 in the company, valued at $519,565.20. The trade was a 30.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on TFC. Raymond James increased their target price on Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Compass Point boosted their price objective on shares of Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Barclays increased their target price on Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. JPMorgan Chase & Co. boosted their price target on Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Finally, Keefe, Bruyette & Woods increased their price objective on Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” rating in a report on Tuesday, January 21st. Eleven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.