Meitav Investment House Ltd. Grows Position in Truist Financial Co. (NYSE:TFC)

Meitav Investment House Ltd. raised its holdings in Truist Financial Co. (NYSE:TFC) by 15.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 20,554 shares of the insurance provider’s stock after acquiring an additional 2,762 shares during the period. Meitav Investment House Ltd.’s holdings in Truist Financial were worth $892,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Bangor Savings Bank increased its position in Truist Financial by 92.5% during 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 in the last quarter. Valley Wealth Managers Inc. acquired a new stake in Truist Financial in the third quarter valued at $26,000. MidAtlantic Capital Management Inc. acquired a new stake in Truist Financial during the third quarter valued at approximately $32,000. Fortitude Family Office LLC increased its stake in Truist Financial by 376.7% during the third 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 acquired a new position in Truist Financial in the third quarter valued at approximately $45,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Insider Buying and Selling

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 sale, 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 document filed with the SEC, which is available through the SEC website. Also, CEO William H. Rogers, Jr. acquired 34,180 shares of the business’s 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 transaction, the chief executive officer now directly owns 691,451 shares in the company, valued at $33,576,860.56. The trade was a 5.20 % increase in their position. The disclosure for this purchase can be found here. 0.17% of the stock is owned by insiders.

Truist Financial Stock Down 0.1 %

Shares of NYSE:TFC opened at $47.59 on Thursday. The stock has a market cap of $63.17 billion, a price-to-earnings ratio of 14.29, a PEG ratio of 1.67 and a beta of 1.08. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. The business’s 50 day moving average is $45.59 and its 200 day moving average is $44.43. Truist Financial Co. has a 12-month low of $34.26 and a 12-month high of $49.06.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.03. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The company had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.05 billion. During the same period in the previous year, the business earned $0.81 earnings per share. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. On average, sell-side analysts forecast that Truist Financial Co. will post 4 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. Stockholders of record on Friday, February 14th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.37%. The ex-dividend date is Friday, February 14th. Truist Financial’s dividend payout ratio (DPR) is presently 62.46%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on TFC shares. Barclays lifted their price target on Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Piper Sandler upped their price objective 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. The Goldman Sachs Group increased their price objective on Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. 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, Stephens upped their price objective on shares of Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Eleven investment 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’s stock. According to data from MarketBeat.com, Truist Financial presently has an average rating of “Moderate Buy” and a consensus target price of $50.79.

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.