Csenge Advisory Group Decreases Stock Holdings in Truist Financial Co. (NYSE:TFC)

Csenge Advisory Group lowered its stake in Truist Financial Co. (NYSE:TFC) by 11.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 100,772 shares of the insurance provider’s stock after selling 12,729 shares during the quarter. Csenge Advisory Group’s holdings in Truist Financial were worth $4,371,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in TFC. Bangor Savings Bank raised its position 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 during the period. Valley Wealth Managers Inc. bought a new position in Truist Financial in the 3rd quarter worth $26,000. MidAtlantic Capital Management Inc. purchased a new position in Truist Financial during the third quarter valued at $32,000. Fortitude Family Office LLC grew its holdings in Truist Financial by 376.7% during 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 during the period. Finally, Ashton Thomas Securities LLC purchased a new stake 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 Performance

TFC stock opened at $46.80 on Friday. The business’s fifty day simple moving average is $45.53 and its two-hundred day simple moving average is $44.35. 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 firm has a market cap of $62.13 billion, a price-to-earnings ratio of 14.06, a PEG ratio of 1.69 and a beta of 1.08. Truist Financial Co. has a twelve month low of $34.26 and a twelve month high of $49.06.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $5.05 billion. During the same quarter in the prior year, the firm earned $0.81 earnings per share. Truist Financial’s revenue was up 3.4% compared to the same quarter last year. Analysts predict that Truist Financial Co. will post 3.98 earnings per share for the current year.

Truist Financial Announces Dividend

The firm also recently announced 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. 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 62.46%.

Insider Transactions at Truist Financial

In other news, Director K. David Jr. Boyer sold 4,966 shares of the business’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 completion of the transaction, the director now directly owns 11,246 shares of the company’s stock, valued at approximately $519,565.20. The trade was a 30.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William H. Rogers, Jr. bought 34,180 shares of the business’s stock in a transaction on Monday, November 25th. The stock was bought at an average price of $48.56 per share, for a total transaction of $1,659,780.80. Following the purchase, the chief executive officer now directly owns 691,451 shares of the company’s stock, valued at $33,576,860.56. The trade was a 5.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TFC. Stephens increased their target price on shares of Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. Compass Point raised their price target on Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Citigroup increased their target price on Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. Finally, Keefe, Bruyette & Woods upped their price target on Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average 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.