Thurston Springer Miller Herd & Titak Inc. Raises Position in Truist Financial Co. (NYSE:TFC)

Thurston Springer Miller Herd & Titak Inc. increased its stake in Truist Financial Co. (NYSE:TFCFree Report) by 48.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,963 shares of the insurance provider’s stock after purchasing an additional 971 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in Truist Financial were worth $129,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of TFC. Bangor Savings Bank lifted its position in shares of Truist Financial by 92.5% during the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock valued at $25,000 after buying an additional 272 shares in the last quarter. Valley Wealth Managers Inc. purchased a new position in Truist Financial during the third quarter valued at approximately $26,000. MidAtlantic Capital Management Inc. bought a new position in shares of Truist Financial in the third quarter worth approximately $32,000. Fortitude Family Office LLC boosted its position in shares of Truist Financial by 376.7% in the third quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 678 shares during the period. Finally, Ashton Thomas Securities LLC bought a new stake in shares of Truist Financial during the 3rd quarter valued at $45,000. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Citigroup upped their target price on shares of Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a report on Monday, November 25th. Wells Fargo & Company increased their target price on Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. The Goldman Sachs Group boosted their price target on Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Royal Bank of Canada increased their price objective on shares of Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Finally, Piper Sandler boosted their target price on shares of Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Eleven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $49.95.

View Our Latest Stock Report on TFC

Insider Buying and Selling

In other Truist Financial news, CEO William H. Rogers, Jr. bought 34,180 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were purchased at an average price of $48.56 per share, with a total value of $1,659,780.80. Following the completion of the purchase, the chief executive officer now owns 691,451 shares in the company, valued at $33,576,860.56. This represents a 5.20 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director K. David Jr. Boyer sold 4,966 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total value of $229,429.20. Following the sale, the director now directly owns 11,246 shares of the company’s stock, valued at $519,565.20. This represents a 30.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by corporate insiders.

Truist Financial Price Performance

NYSE:TFC opened at $47.63 on Friday. The firm has a market capitalization of $63.23 billion, a price-to-earnings ratio of -33.31, a PEG ratio of 1.67 and a beta of 1.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.85 and a quick ratio of 0.85. The business has a 50 day simple moving average of $45.36 and a 200-day simple moving average of $43.48. Truist Financial Co. has a 1 year low of $34.23 and a 1 year high of $49.06.

Truist Financial (NYSE:TFCGet Free Report) last issued its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. The company had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5,047,370 billion. During the same period last year, the company earned $0.81 earnings per share. Truist Financial’s revenue was up 3.4% on a year-over-year basis. Equities analysts forecast that Truist Financial Co. will post 3.61 EPS for the current year.

Truist Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 8th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $2.08 annualized dividend and a yield of 4.37%. Truist Financial’s payout ratio is -145.45%.

Truist Financial Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Truist Financial (NYSE:TFC)

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