Truist Financial Co. (NYSE:TFC) Shares Bought by Cwm LLC

Cwm LLC grew its position in shares of Truist Financial Co. (NYSE:TFC) by 12.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,136 shares of the insurance provider’s stock after purchasing an additional 3,264 shares during the period. Cwm LLC’s holdings in Truist Financial were worth $1,076,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Criterion Capital Advisors LLC acquired a new position in Truist Financial during the fourth quarter worth $38,000. Signaturefd LLC lifted its stake in Truist Financial by 2.8% during the fourth quarter. Signaturefd LLC now owns 47,797 shares of the insurance provider’s stock worth $1,765,000 after purchasing an additional 1,282 shares in the last quarter. Verdence Capital Advisors LLC increased its position in shares of Truist Financial by 21.4% during the fourth quarter. Verdence Capital Advisors LLC now owns 88,752 shares of the insurance provider’s stock worth $3,277,000 after acquiring an additional 15,646 shares during the period. Lindbrook Capital LLC increased its position in shares of Truist Financial by 112.5% during the fourth quarter. Lindbrook Capital LLC now owns 5,896 shares of the insurance provider’s stock worth $218,000 after acquiring an additional 3,121 shares during the period. Finally, abrdn plc increased its position in shares of Truist Financial by 32.5% during the fourth quarter. abrdn plc now owns 1,116,793 shares of the insurance provider’s stock worth $41,232,000 after acquiring an additional 273,953 shares during the period. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Truist Financial

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

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TFC. Wells Fargo & Company upped their price objective on Truist Financial from $39.00 to $45.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Piper Sandler upped their price objective on Truist Financial from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, January 19th. Barclays upped their price objective on Truist Financial from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 2nd. Raymond James upped their price objective on Truist Financial from $34.00 to $41.00 and gave the stock an “outperform” rating in a research report on Friday, January 5th. Finally, Keefe, Bruyette & Woods increased their target price on Truist Financial from $44.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, April 5th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.97.

Truist Financial Stock Performance

Shares of TFC stock opened at $38.17 on Friday. The stock’s 50-day moving average is $36.90 and its two-hundred day moving average is $34.86. Truist Financial Co. has a 1 year low of $25.56 and a 1 year high of $39.29. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.75.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.12. The company had revenue of $4.87 billion for the quarter, compared to analyst estimates of $5.70 billion. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The business’s quarterly revenue was down 8.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.09 earnings per share. As a group, sell-side analysts forecast that Truist Financial Co. will post 3.27 earnings per share for the current year.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 10th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 5.45%. The ex-dividend date of this dividend is Thursday, May 9th. Truist Financial’s payout ratio is -157.58%.

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.