58,600 Shares in Truist Financial Co. (NYSE:TFC) Acquired by Nkcfo LLC

Nkcfo LLC acquired a new stake in Truist Financial Co. (NYSE:TFC) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 58,600 shares of the insurance provider’s stock, valued at approximately $2,542,000. Truist Financial comprises about 1.1% of Nkcfo LLC’s portfolio, making the stock its 20th biggest position.

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

Analysts Set New Price Targets

TFC has been the subject of a number of analyst reports. Citigroup boosted their price objective 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. Compass Point upped their price objective on shares of Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Stephens raised their price objective on Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Wells Fargo & Company boosted their target price on Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Finally, Keefe, Bruyette & Woods raised their price target on Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 21st. Eleven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $50.79.

Insiders Place Their Bets

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 stock was sold at an average price of $46.20, for a total transaction of $229,429.20. Following the completion of the transaction, the director now directly owns 11,246 shares in the company, valued at approximately $519,565.20. The trade was a 30.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William H. Rogers, Jr. purchased 34,180 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was acquired at an average price of $48.56 per share, for a total transaction of $1,659,780.80. Following the purchase, the chief executive officer now owns 691,451 shares in the company, valued at $33,576,860.56. This trade represents a 5.20 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.17% of the company’s stock.

Truist Financial Trading Up 0.7 %

Truist Financial stock opened at $46.80 on Friday. The company has a market cap of $62.13 billion, a price-to-earnings ratio of 14.06, a P/E/G ratio of 1.69 and a beta of 1.08. The firm has a 50-day moving average of $45.53 and a 200-day moving average of $44.35. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. Truist Financial Co. has a one year low of $34.26 and a one year high of $49.06.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.81 earnings per share. On average, equities analysts expect that Truist Financial Co. will post 3.98 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be issued a dividend of $0.52 per share. The ex-dividend date is Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a yield of 4.44%. Truist Financial’s payout ratio is 62.46%.

Truist Financial 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.