Valmark Advisers Inc. Purchases 277 Shares of Truist Financial Co. (NYSE:TFC)

Valmark Advisers Inc. raised its position in Truist Financial Co. (NYSE:TFC) by 2.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,965 shares of the insurance provider’s stock after purchasing an additional 277 shares during the period. Valmark Advisers Inc.’s holdings in Truist Financial were worth $479,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Day & Ennis LLC raised its position in shares of Truist Financial by 4.3% during the 4th quarter. Day & Ennis LLC now owns 7,525 shares of the insurance provider’s stock valued at $278,000 after buying an additional 311 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA increased its stake in shares of Truist Financial by 32.0% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,333 shares of the insurance provider’s stock worth $49,000 after buying an additional 323 shares during the period. Cape Investment Advisory Inc. raised its holdings in Truist Financial by 7.4% during the 3rd quarter. Cape Investment Advisory Inc. now owns 4,849 shares of the insurance provider’s stock valued at $139,000 after buying an additional 335 shares during the last quarter. Birmingham Capital Management Co. Inc. AL boosted its position in Truist Financial by 4.1% during the 3rd quarter. Birmingham Capital Management Co. Inc. AL now owns 8,544 shares of the insurance provider’s stock valued at $244,000 after buying an additional 335 shares during the period. Finally, Farmers Trust Co. raised its stake in shares of Truist Financial by 2.8% during the fourth quarter. Farmers Trust Co. now owns 12,190 shares of the insurance provider’s stock valued at $450,000 after acquiring an additional 336 shares during the last quarter. 71.28% of the stock is owned by institutional investors.

Insider Transactions at Truist Financial

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

Truist Financial Trading Up 0.5 %

NYSE:TFC opened at $38.17 on Monday. The firm has a market capitalization of $50.94 billion, a price-to-earnings ratio of -28.92, a price-to-earnings-growth ratio of 2.01 and a beta of 1.08. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.82 and a quick ratio of 0.82. The business has a fifty day moving average price of $36.90 and a 200-day moving average price of $34.90. Truist Financial Co. has a one year low of $25.56 and a one year high of $39.29.

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

Truist Financial Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages have recently weighed in on TFC. Citigroup lifted their price objective on Truist Financial from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. UBS Group lifted their price target on shares of Truist Financial from $45.00 to $49.00 and gave the company a “buy” rating in a report on Friday, April 5th. TheStreet cut shares of Truist Financial from a “b-” rating to a “c” rating in a research report on Tuesday, February 20th. Stephens reaffirmed an “overweight” rating and set a $43.00 target price on shares of Truist Financial in a research note on Tuesday, April 23rd. Finally, Bank of America upgraded shares of Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 price objective for the company in a report on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.97.

Truist Financial Company 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.