POM Investment Strategies LLC Boosts Holdings in Truist Financial Co. (NYSE:TFC)

POM Investment Strategies LLC boosted its position in shares of Truist Financial Co. (NYSE:TFC) by 119.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 2,394 shares of the insurance provider’s stock after purchasing an additional 1,301 shares during the period. POM Investment Strategies LLC’s holdings in Truist Financial were worth $104,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on TFC shares. Stephens upped their price target on Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Piper Sandler upped their target price on shares of Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Royal Bank of Canada lifted their price target on shares of Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Raymond James increased their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Finally, The Goldman Sachs Group lifted their target price on shares of Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Eleven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.79.

Truist Financial Price Performance

NYSE TFC opened at $47.15 on Tuesday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. Truist Financial Co. has a 12 month low of $34.23 and a 12 month high of $49.06. The stock has a market cap of $62.60 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 1.69 and a beta of 1.08. The company’s 50 day moving average is $45.53 and its two-hundred day moving average is $44.26.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.88 by $0.03. The firm had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.05 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The company’s revenue was up 3.4% on a year-over-year basis. During the same period last year, the firm earned $0.81 EPS. As a group, research analysts anticipate that Truist Financial Co. will post 3.98 earnings per share for the current year.

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date is Friday, February 14th. Truist Financial’s dividend payout ratio (DPR) is 62.46%.

Insider Buying and Selling

In other news, Director K. David Jr. Boyer sold 4,966 shares of Truist Financial stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total transaction of $229,429.20. Following the sale, the director now owns 11,246 shares in the company, valued at $519,565.20. This trade represents a 30.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William H. Rogers, Jr. bought 34,180 shares of the stock in a transaction dated Monday, November 25th. The stock was bought at an average cost of $48.56 per share, for a total transaction of $1,659,780.80. Following the acquisition, the chief executive officer now directly owns 691,451 shares of the company’s stock, valued at approximately $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 company insiders.

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.