Signaturefd LLC Buys 1,282 Shares of Truist Financial Co. (NYSE:TFC)

Signaturefd LLC boosted its holdings in shares of Truist Financial Co. (NYSE:TFC) by 2.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 47,797 shares of the insurance provider’s stock after acquiring an additional 1,282 shares during the period. Signaturefd LLC’s holdings in Truist Financial were worth $1,765,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fairfield Bush & CO. bought a new position in Truist Financial during the first quarter worth about $25,000. Morton Brown Family Wealth LLC lifted its holdings 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 worth $34,000 after acquiring an additional 649 shares in the last quarter. Quarry LP bought a new position in Truist Financial during the first quarter worth about $32,000. OFI Invest Asset Management bought a new position in Truist Financial during the third quarter worth about $26,000. Finally, Operose Advisors LLC bought a new position in Truist Financial during the third quarter worth about $31,000. 71.28% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director K. David Jr. Boyer sold 3,764 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $37.48, for a total value of $141,074.72. Following the transaction, the director now owns 16,132 shares of the company’s stock, valued at $604,627.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.17% of the stock is owned by company insiders.

Truist Financial Price Performance

Shares of NYSE TFC opened at $36.80 on Monday. The business’s 50 day moving average price is $36.64 and its two-hundred day moving average price is $34.54. The company has a market cap of $49.11 billion, a PE ratio of -34.07, a price-to-earnings-growth ratio of 2.27 and a beta of 1.08. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.74. Truist Financial Co. has a twelve month low of $25.56 and a twelve month high of $39.29.

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

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 5.65%. The ex-dividend date of this dividend was Thursday, February 8th. Truist Financial’s dividend payout ratio (DPR) is presently -192.59%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TFC. Jefferies Financial Group lifted their target price on Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a report on Monday, April 8th. Piper Sandler boosted their price target on Truist Financial from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, January 19th. StockNews.com lowered Truist Financial from a “hold” rating to a “sell” rating in a report on Thursday, March 28th. Royal Bank of Canada boosted their price target on Truist Financial from $40.00 to $42.00 and gave the company an “outperform” rating in a report on Friday, January 19th. Finally, Bank of America upgraded Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 price target on the stock in a report on Thursday, January 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $41.56.

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.