Truist Financial Co. (NYSE:TFC) Director David M. Ratcliffe Acquires 13,125 Shares

Truist Financial Co. (NYSE:TFC – Get Rating) Director David M. Ratcliffe purchased 13,125 shares of the business’s stock in a transaction on Friday, March 10th. The stock was acquired at an average price of $38.08 per share, with a total value of $499,800.00. Following the purchase, the director now directly owns 39,025 shares in the company, valued at approximately $1,486,072. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Truist Financial Stock Performance

Truist Financial stock opened at $31.88 on Wednesday. The company has a 50 day moving average price of $46.64 and a 200-day moving average price of $45.29. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.80 and a current ratio of 0.81. Truist Financial Co. has a fifty-two week low of $30.51 and a fifty-two week high of $61.10. The company has a market capitalization of $42.33 billion, a PE ratio of 7.20, a P/E/G ratio of 1.01 and a beta of 1.10.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 1st. Stockholders of record on Friday, February 10th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 6.52%. The ex-dividend date was Thursday, February 9th. Truist Financial’s dividend payout ratio is presently 46.95%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. TheStreet upgraded Truist Financial from a “c+” rating to a “b-” rating in a research note on Monday, January 23rd. Robert W. Baird upgraded Truist Financial from a “neutral” rating to an “outperform” rating and set a $53.00 price objective for the company in a research report on Monday. StockNews.com lowered Truist Financial from a “buy” rating to a “hold” rating in a research report on Thursday, November 24th. Stephens lowered Truist Financial from an “overweight” rating to an “equal weight” rating and set a $53.00 price objective for the company. in a research report on Tuesday, January 31st. Finally, Keefe, Bruyette & Woods upgraded Truist Financial from an “underperform” rating to a “market perform” rating and cut their price objective for the company from $47.00 to $45.00 in a research report on Sunday. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Truist Financial currently has a consensus rating of “Hold” and a consensus price target of $51.58.

Institutional Trading of Truist Financial

Institutional investors and hedge funds have recently modified their holdings of the stock. Moneta Group Investment Advisors LLC increased its holdings in Truist Financial by 12,034.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 20,490,356 shares of the insurance provider’s stock valued at $881,700,000 after buying an additional 20,321,500 shares during the period. Norges Bank purchased a new position in Truist Financial during the fourth quarter valued at approximately $553,718,000. Amundi increased its holdings in Truist Financial by 43.1% during the fourth quarter. Amundi now owns 18,282,723 shares of the insurance provider’s stock valued at $847,671,000 after buying an additional 5,504,325 shares during the period. Morgan Stanley increased its holdings in Truist Financial by 32.6% during the fourth quarter. Morgan Stanley now owns 15,511,098 shares of the insurance provider’s stock valued at $667,443,000 after buying an additional 3,813,439 shares during the period. Finally, BlackRock Inc. increased its holdings in Truist Financial by 3.6% during the third quarter. BlackRock Inc. now owns 100,049,345 shares of the insurance provider’s stock valued at $4,356,148,000 after buying an additional 3,443,946 shares during the period. Institutional investors own 72.49% of the company’s stock.

Truist Financial Company Profile

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Truist Financial Corp. is a financial holding company, which engages in the provision of banking services to individuals, businesses, and municipalities. It operates through the following segments: Consumer Banking and Wealth, Corporate and Commercial Banking, Insurance Holdings, and Other, Treasury & Corporate.