Truist Financial Co. (NYSE:TFC) CEO Purchases $1,659,780.80 in Stock

Truist Financial Co. (NYSE:TFC) CEO William H. Rogers, Jr. bought 34,180 shares of Truist Financial stock in a transaction that occurred on Monday, November 25th. The shares were acquired at an average price of $48.56 per share, with a total value of $1,659,780.80. Following the completion of the transaction, the chief executive officer now owns 691,451 shares of the company’s stock, valued at $33,576,860.56. This represents a 5.20 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Truist Financial Stock Performance

Shares of TFC stock opened at $47.68 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.62. Truist Financial Co. has a 12-month low of $31.96 and a 12-month high of $49.06. The company has a market cap of $63.30 billion, a price-to-earnings ratio of -33.34, a price-to-earnings-growth ratio of 1.96 and a beta of 1.05. The stock has a 50 day simple moving average of $44.23 and a 200-day simple moving average of $41.81.

Truist Financial (NYSE:TFC) last released its earnings results on Thursday, October 17th. The insurance provider reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.08. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. The company had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $5.05 billion. On average, equities analysts forecast that Truist Financial Co. will post 3.7 EPS for the current year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be issued a $0.52 dividend. The ex-dividend date is Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.36%. Truist Financial’s dividend payout ratio (DPR) is presently -145.45%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TFC. Wells Fargo & Company increased their price target on shares of Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Royal Bank of Canada raised their target price on Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Citigroup lifted their price target on shares of Truist Financial from $47.00 to $51.00 and gave the company a “neutral” rating in a report on Monday, November 25th. UBS Group boosted their price objective on Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Twelve analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $47.17.

Institutional Investors Weigh In On Truist Financial

Several institutional investors have recently modified their holdings of the company. Valley Wealth Managers Inc. purchased a new position in shares of Truist Financial in the third quarter valued at $26,000. MFA Wealth Advisors LLC acquired a new stake in shares of Truist Financial in the second quarter valued at approximately $30,000. Y.D. More Investments Ltd acquired a new position in shares of Truist Financial during the 2nd quarter worth approximately $31,000. MidAtlantic Capital Management Inc. purchased a new stake in Truist Financial in the 3rd quarter valued at approximately $32,000. Finally, Fortitude Family Office LLC grew its holdings in Truist Financial by 376.7% during the 3rd quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock valued at $37,000 after buying an additional 678 shares during the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

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.