Truist Financial Co. (NYSE:TFC) Stake Increased by Community Bank & Trust Waco Texas

Community Bank & Trust Waco Texas grew its holdings in Truist Financial Co. (NYSE:TFC) by 20.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,286 shares of the insurance provider’s stock after purchasing an additional 2,551 shares during the period. Community Bank & Trust Waco Texas’ holdings in Truist Financial were worth $663,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Stonebridge Financial Group LLC purchased a new stake in shares of Truist Financial during the fourth quarter worth $443,000. Summit Trail Advisors LLC raised its holdings in shares of Truist Financial by 18.4% during the fourth quarter. Summit Trail Advisors LLC now owns 18,028 shares of the insurance provider’s stock worth $782,000 after acquiring an additional 2,799 shares in the last quarter. POM Investment Strategies LLC raised its holdings in shares of Truist Financial by 119.0% during the fourth quarter. POM Investment Strategies LLC now owns 2,394 shares of the insurance provider’s stock worth $104,000 after acquiring an additional 1,301 shares in the last quarter. Global Wealth Management Investment Advisory Inc. raised its holdings in shares of Truist Financial by 4.8% during the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 81,823 shares of the insurance provider’s stock worth $3,550,000 after acquiring an additional 3,720 shares in the last quarter. Finally, Ferguson Wellman Capital Management Inc. raised its holdings in shares of Truist Financial by 5.7% during the fourth quarter. Ferguson Wellman Capital Management Inc. now owns 5,452 shares of the insurance provider’s stock worth $237,000 after acquiring an additional 294 shares in the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TFC has been the topic of several analyst reports. Stephens increased their target price on shares of Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Wells Fargo & Company increased their target price on shares of Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Raymond James increased their target price on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Citigroup increased their target price on shares of Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. Finally, UBS Group increased their target price on shares of Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Eleven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $50.79.

Truist Financial Stock Down 1.1 %

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. The stock’s 50 day moving average is $45.53 and its two-hundred day moving average is $44.26. The company has a market capitalization of $62.60 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 1.69 and a beta of 1.08. Truist Financial Co. has a 1-year low of $34.23 and a 1-year high of $49.06.

Truist Financial (NYSE:TFC) last released its quarterly earnings data 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. The company had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The company’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.81 earnings per share. Equities analysts forecast that Truist Financial Co. will post 3.98 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

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

Insider Buying and Selling at Truist Financial

In other news, Director K. David Jr. Boyer sold 4,966 shares of the business’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 transaction, the director now directly owns 11,246 shares of the company’s stock, valued at $519,565.20. The trade was a 30.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William H. Rogers, Jr. bought 34,180 shares of Truist Financial stock in a transaction dated Monday, November 25th. The stock was acquired 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 in the company, valued at $33,576,860.56. This represents a 5.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.17% 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.