Truist Financial Co. (NYSE:TFC) Shares Bought by IHT Wealth Management LLC

IHT Wealth Management LLC grew its stake in shares of Truist Financial Co. (NYSE:TFC – Get Rating) by 38.1% in the third quarter, Holdings Channel.com reports. The fund owned 19,152 shares of the insurance provider’s stock after purchasing an additional 5,287 shares during the period. IHT Wealth Management LLC’s holdings in Truist Financial were worth $834,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Fairfield Bush & CO. acquired a new position in shares of Truist Financial during the 1st quarter worth approximately $25,000. United Bank raised its position in shares of Truist Financial by 4.1% during the 1st quarter. United Bank now owns 74,457 shares of the insurance provider’s stock worth $4,222,000 after purchasing an additional 2,938 shares during the last quarter. Panagora Asset Management Inc. raised its position in shares of Truist Financial by 33.3% during the 1st quarter. Panagora Asset Management Inc. now owns 26,365 shares of the insurance provider’s stock worth $1,495,000 after purchasing an additional 6,593 shares during the last quarter. Vontobel Holding Ltd. raised its position in shares of Truist Financial by 3.3% during the 1st quarter. Vontobel Holding Ltd. now owns 22,951 shares of the insurance provider’s stock worth $1,348,000 after purchasing an additional 738 shares during the last quarter. Finally, Blair William & Co. IL raised its position in shares of Truist Financial by 8.1% during the 1st quarter. Blair William & Co. IL now owns 56,690 shares of the insurance provider’s stock worth $3,214,000 after purchasing an additional 4,234 shares during the last quarter. 72.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Truist Financial news, Director David M. Ratcliffe purchased 13,125 shares of the firm’s stock in a transaction that occurred on Friday, March 10th. The stock was purchased at an average cost of $38.08 per share, with a total value of $499,800.00. Following the transaction, the director now owns 39,025 shares in the company, valued at $1,486,072. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Truist Financial news, Director David M. Ratcliffe purchased 13,125 shares of the firm’s stock in a transaction that occurred on Friday, March 10th. The stock was purchased at an average cost of $38.08 per share, with a total value of $499,800.00. Following the transaction, the director now owns 39,025 shares in the company, valued at $1,486,072. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Hugh S. Cummins III sold 35,229 shares of the company’s stock in a transaction on Friday, January 27th. The stock was sold at an average price of $49.05, for a total transaction of $1,727,982.45. Following the sale, the insider now directly owns 307,069 shares of the company’s stock, valued at $15,061,734.45. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

Truist Financial Stock Down 7.2 %

Shares of NYSE TFC opened at $30.56 on Friday. Truist Financial Co. has a 52-week low of $28.70 and a 52-week high of $61.10. The firm has a fifty day moving average of $45.85 and a 200-day moving average of $44.99. The stock has a market capitalization of $40.59 billion, a PE ratio of 6.90, a P/E/G ratio of 1.33 and a beta of 1.10. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 0.80.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 1st. Investors of record on Friday, February 10th were given a dividend of $0.52 per share. The ex-dividend date was Thursday, February 9th. This represents a $2.08 dividend on an annualized basis and a yield of 6.81%. Truist Financial’s dividend payout ratio (DPR) is 46.95%.

Analyst Ratings Changes

Several research analysts recently issued reports on TFC shares. StockNews.com started coverage on Truist Financial in a research report on Thursday. They set a “hold” rating for the company. Keefe, Bruyette & Woods upgraded Truist Financial from an “underperform” rating to a “market perform” rating and cut their price target for the company from $47.00 to $45.00 in a report on Sunday, March 12th. Citigroup upgraded Truist Financial from a “neutral” rating to a “buy” rating and set a $52.00 price target for the company in a report on Wednesday. Stephens downgraded Truist Financial from an “overweight” rating to an “equal weight” rating and set a $53.00 price target for the company. in a report on Tuesday, January 31st. Finally, Morgan Stanley cut their price target on Truist Financial from $59.00 to $56.00 and set an “equal weight” rating for the company in a report on Friday, January 20th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Truist Financial currently has an average rating of “Hold” and a consensus target price of $51.58.

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.