Cassaday & Co Wealth Management LLC Has $473,000 Stock Position in Truist Financial Co. (NYSE:TFC)

Cassaday & Co Wealth Management LLC lowered its stake in Truist Financial Co. (NYSE:TFC) by 19.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,903 shares of the insurance provider’s stock after selling 2,627 shares during the quarter. Cassaday & Co Wealth Management LLC’s holdings in Truist Financial were worth $473,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bangor Savings Bank boosted its stake in Truist Financial by 92.5% in the 4th 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 period. Valley Wealth Managers Inc. bought a new stake in shares of Truist Financial in the third quarter valued at about $26,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Truist Financial during the third quarter worth about $32,000. Fortitude Family Office LLC grew its holdings 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 buying an additional 678 shares in the last quarter. Finally, Ashton Thomas Securities LLC acquired a new stake in Truist Financial in the 3rd quarter valued at approximately $45,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Trading Down 2.1 %

Shares of NYSE:TFC opened at $45.67 on Friday. Truist Financial Co. has a 12-month low of $34.26 and a 12-month high of $49.06. The business has a 50 day moving average of $45.61 and a 200-day moving average of $44.47. 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 stock has a market cap of $60.62 billion, a PE ratio of 13.71, a P/E/G ratio of 1.66 and a beta of 1.08.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.03. The business had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.81 EPS. As a group, equities research analysts forecast that Truist Financial Co. will post 4 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. Investors 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 4.55%. The ex-dividend date is Friday, February 14th. Truist Financial’s dividend payout ratio is 62.46%.

Insider Buying and Selling

In other Truist Financial news, Director K. David Jr. Boyer sold 4,966 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total transaction of $229,429.20. Following the transaction, the director now owns 11,246 shares in the company, valued at $519,565.20. This trade represents a 30.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William H. Rogers, Jr. acquired 34,180 shares of the company’s stock in a transaction on Monday, November 25th. The stock was bought at an average cost of $48.56 per share, with a total value of $1,659,780.80. Following the completion of the acquisition, the chief executive officer now directly owns 691,451 shares in the company, valued at approximately $33,576,860.56. This 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.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. The Goldman Sachs Group raised their target price on shares of Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Barclays raised their price objective on Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Wells Fargo & Company increased their price target on Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Keefe, Bruyette & Woods boosted their price target on Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 21st. Finally, Hsbc Global Res raised Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Eleven research 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 stock. According to MarketBeat.com, the company currently 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.