5,650 Shares in Truist Financial Co. (NYSE:TFC) Bought by Graypoint LLC

Graypoint LLC bought a new position in shares of Truist Financial Co. (NYSE:TFC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,650 shares of the insurance provider’s stock, valued at approximately $209,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fairfield Bush & CO. acquired a new stake in Truist Financial during the first quarter valued at $25,000. Morton Brown Family Wealth LLC grew its position in Truist Financial by 236.0% during the fourth quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock valued at $34,000 after buying an additional 649 shares during the period. Quarry LP acquired a new stake in Truist Financial during the first quarter valued at $32,000. OFI Invest Asset Management acquired a new stake in Truist Financial during the third quarter valued at $26,000. Finally, Operose Advisors LLC acquired a new stake in Truist Financial during the third quarter valued at $31,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TFC. Stephens upgraded shares of Truist Financial from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $41.00 to $43.00 in a research report on Tuesday, March 19th. Morgan Stanley lifted their target price on shares of Truist Financial from $38.00 to $43.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 30th. Raymond James lifted their target price on shares of Truist Financial from $34.00 to $41.00 and gave the company an “outperform” rating in a research report on Friday, January 5th. Wells Fargo & Company lifted their target price on shares of Truist Financial from $39.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Finally, StockNews.com lowered shares of Truist Financial from a “hold” rating to a “sell” rating in a research report on Thursday, March 28th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Truist Financial currently has a consensus rating of “Hold” and an average target price of $41.47.

Insider Activity

In other news, Director K. David Jr. Boyer sold 3,764 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $37.48, for a total value of $141,074.72. Following the sale, the director now directly owns 16,132 shares of the company’s stock, valued at approximately $604,627.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.17% of the company’s stock.

Truist Financial Stock Down 0.2 %

Shares of TFC stock opened at $36.71 on Tuesday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.74. The firm’s 50-day moving average is $36.64 and its two-hundred day moving average is $34.31. Truist Financial Co. has a 12 month low of $25.56 and a 12 month high of $39.29.

Truist Financial (NYSE:TFC) last issued its earnings results on Thursday, January 18th. The insurance provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.13. Truist Financial had a negative net margin of 3.28% and a positive return on equity of 9.64%. The company had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.70 billion. During the same period in the previous year, the firm earned $1.30 earnings per share. Equities research analysts anticipate that Truist Financial Co. will post 3.33 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 9th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.67%. The ex-dividend date was Thursday, February 8th. Truist Financial’s dividend payout ratio (DPR) is -192.59%.

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.