First Dallas Securities Inc. Takes Position in Truist Financial Co. (NYSE:TFC)

First Dallas Securities Inc. acquired a new position in shares of Truist Financial Co. (NYSE:TFC) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 5,200 shares of the insurance provider’s stock, valued at approximately $226,000.

A number of other hedge funds have also recently bought and sold shares of TFC. Cornerstone Management Inc. increased its position in shares of Truist Financial by 12.5% during the fourth quarter. Cornerstone Management Inc. now owns 6,678 shares of the insurance provider’s stock valued at $290,000 after buying an additional 740 shares during the period. Hodges Capital Management Inc. lifted its stake in Truist Financial by 68.1% in the fourth quarter. Hodges Capital Management Inc. now owns 27,367 shares of the insurance provider’s stock worth $1,187,000 after acquiring an additional 11,083 shares during the period. Chicago Capital LLC purchased a new stake in Truist Financial in the fourth quarter worth $220,000. Valley National Advisers Inc. lifted its position in Truist Financial by 6.6% during the fourth quarter. Valley National Advisers Inc. now owns 9,721 shares of the insurance provider’s stock valued at $421,000 after buying an additional 604 shares during the period. Finally, WFA Asset Management Corp purchased a new position in Truist Financial during the fourth quarter valued at $133,000. 71.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on TFC. Raymond James lifted their price objective on Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Morgan Stanley upped their price objective on Truist Financial from $55.00 to $56.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. Piper Sandler increased their price target on Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. HSBC raised Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research report on Tuesday, January 7th. Finally, Hsbc Global Res raised Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Eleven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $50.79.

Truist Financial Stock Down 1.5 %

Shares of NYSE:TFC opened at $46.92 on Tuesday. Truist Financial Co. has a one year low of $34.23 and a one year high of $49.06. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. The company has a market cap of $62.29 billion, a price-to-earnings ratio of 14.09, a PEG ratio of 1.69 and a beta of 1.08. The firm has a fifty day moving average price of $45.55 and a two-hundred day moving average price of $44.11.

Truist Financial (NYSE:TFC) last announced its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The business had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.05 billion. During the same quarter last year, the firm earned $0.81 earnings per share. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. Analysts anticipate that Truist Financial Co. will post 3.95 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a yield of 4.43%. Truist Financial’s dividend payout ratio is currently 62.46%.

Insider Buying and Selling at Truist Financial

In other news, Director K. David Jr. Boyer sold 4,966 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William H. Rogers, Jr. purchased 34,180 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were purchased at an average cost of $48.56 per share, for a total transaction of $1,659,780.80. Following the completion of the acquisition, the chief executive officer now directly owns 691,451 shares of the company’s stock, valued at $33,576,860.56. This represents a 5.20 % increase in their position. The disclosure for this purchase can be found here. 0.17% of the stock is currently owned by insiders.

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.