YANKCOM Partnership Makes New $613,000 Investment in Truist Financial Co. (NYSE:TFC)

YANKCOM Partnership bought a new stake in shares of Truist Financial Co. (NYSE:TFC) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 14,128 shares of the insurance provider’s stock, valued at approximately $613,000.

Other large investors have also recently made changes to their positions in the company. Bangor Savings Bank boosted its holdings in Truist Financial by 92.5% in the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock worth $25,000 after acquiring an additional 272 shares in the last quarter. Valley Wealth Managers Inc. bought a new position in Truist Financial in the 3rd quarter worth about $26,000. MidAtlantic Capital Management Inc. purchased a new stake in Truist Financial during the 3rd quarter valued at about $32,000. Fortitude Family Office LLC raised its holdings in 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 buying an additional 678 shares during the last quarter. Finally, Ashton Thomas Securities LLC purchased a new position in Truist Financial in the third quarter worth about $45,000. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Truist Financial Stock Up 0.6 %

NYSE TFC opened at $47.64 on Thursday. Truist Financial Co. has a 52 week low of $34.23 and a 52 week high of $49.06. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $63.24 billion, a P/E ratio of 14.31, a price-to-earnings-growth ratio of 1.69 and a beta of 1.08. The stock’s 50-day moving average price is $45.52 and its 200-day moving average price is $44.18.

Truist Financial (NYSE:TFC) last released its earnings results 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 for 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 firm’s revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.81 EPS. On average, equities research analysts predict that Truist Financial Co. will post 3.95 earnings per share for the current year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders 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 yield of 4.37%. Truist Financial’s payout ratio is presently 62.46%.

Insider Buying and Selling at Truist Financial

In other Truist Financial news, Director K. David Jr. Boyer sold 4,966 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total transaction of $229,429.20. Following the completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William H. Rogers, Jr. bought 34,180 shares of Truist Financial stock in a transaction dated Monday, November 25th. The stock was purchased at an average cost of $48.56 per share, for a total transaction of $1,659,780.80. Following the completion of the acquisition, the chief executive officer now directly owns 691,451 shares of the company’s stock, 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. Insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Raymond James boosted their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Hsbc Global Res upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Royal Bank of Canada upped their price target on Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Keefe, Bruyette & Woods upped their target price on shares of Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a research note on Tuesday, January 21st. Finally, Compass Point raised their price target 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. Eleven 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. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $50.79.

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.