Truist Financial Co. (NYSE:TFC) Shares Purchased by Simmons Bank

Simmons Bank boosted its holdings in Truist Financial Co. (NYSE:TFC) by 30.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 56,334 shares of the insurance provider’s stock after acquiring an additional 13,067 shares during the quarter. Simmons Bank’s holdings in Truist Financial were worth $2,444,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. State Street Corp increased its position in Truist Financial by 4.6% in the 3rd quarter. State Street Corp now owns 61,864,957 shares of the insurance provider’s stock valued at $2,645,964,000 after acquiring an additional 2,720,223 shares during the period. Geode Capital Management LLC increased its position in Truist Financial by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 27,440,951 shares of the insurance provider’s stock valued at $1,169,350,000 after acquiring an additional 456,412 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Truist Financial by 3.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,431,037 shares of the insurance provider’s stock valued at $403,365,000 after acquiring an additional 288,306 shares during the period. Bank of New York Mellon Corp increased its position in Truist Financial by 8.5% in the 4th quarter. Bank of New York Mellon Corp now owns 8,484,992 shares of the insurance provider’s stock valued at $368,079,000 after acquiring an additional 662,179 shares during the period. Finally, FMR LLC increased its position in Truist Financial by 10.6% in the 3rd quarter. FMR LLC now owns 5,003,106 shares of the insurance provider’s stock valued at $213,983,000 after acquiring an additional 478,886 shares during the period. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Truist Financial 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 sale, the director now directly owns 11,246 shares of the company’s stock, valued at approximately $519,565.20. The trade was a 30.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.17% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TFC. Barclays increased their price target on Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Compass Point increased their price target on Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Keefe, Bruyette & Woods increased their price target on Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a research note on Tuesday, January 21st. HSBC raised Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research note on Tuesday, January 7th. Finally, Morgan Stanley increased their price target on Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. Eleven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $50.79.

Truist Financial Trading Up 0.2 %

Shares of NYSE:TFC opened at $45.26 on Thursday. The company has a market cap of $60.08 billion, a P/E ratio of 13.59, a P/E/G ratio of 1.63 and a beta of 1.08. The stock’s 50-day moving average is $45.65 and its 200-day moving average is $44.57. Truist Financial Co. has a 52-week low of $34.51 and a 52-week high of $49.06. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm’s revenue was up 3.4% compared to the same quarter last year. During the same period last year, the business posted $0.81 earnings per share. Equities research analysts predict that Truist Financial Co. will post 4 earnings per share for the current 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 given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.60%. The ex-dividend date of this dividend is Friday, February 14th. Truist Financial’s dividend payout ratio (DPR) is presently 62.46%.

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.