Truist Financial Co. (NYSE:TFC) Shares Acquired by Ballentine Partners LLC

Ballentine Partners LLC increased its position in shares of Truist Financial Co. (NYSE:TFC) by 1.6% in the 4th quarter, Holdings Channel reports. The firm owned 26,804 shares of the insurance provider’s stock after purchasing an additional 418 shares during the period. Ballentine Partners LLC’s holdings in Truist Financial were worth $1,163,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Bangor Savings Bank increased its position 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 worth $25,000 after purchasing an additional 272 shares in the last quarter. Valley Wealth Managers Inc. purchased a new stake in shares of Truist Financial during the third quarter worth approximately $26,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Truist Financial during the third quarter worth approximately $32,000. Fortitude Family Office LLC increased its position in shares of Truist Financial by 376.7% during the third quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 678 shares in the last quarter. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of Truist Financial during the third quarter worth approximately $45,000. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Truist Financial

In related news, CEO William H. Rogers, Jr. purchased 34,180 shares of Truist Financial stock in a transaction on Monday, November 25th. The shares were bought at an average price of $48.56 per share, with a total value of $1,659,780.80. Following the transaction, the chief executive officer now directly owns 691,451 shares of the company’s stock, valued at approximately $33,576,860.56. This trade represents a 5.20 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director K. David Jr. Boyer sold 4,966 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total value of $229,429.20. Following the completion of the sale, the director now directly owns 11,246 shares in the company, valued at $519,565.20. This represents a 30.63 % decrease in their position. The disclosure for this sale can be found here. 0.17% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TFC. Raymond James boosted their price target on Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. HSBC upgraded Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a report on Tuesday, January 7th. Citigroup upped their target price on Truist Financial from $47.00 to $51.00 and gave the company a “neutral” rating in a report on Monday, November 25th. Keefe, Bruyette & Woods upped their target price on Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, The Goldman Sachs Group upped their target price on Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Eleven investment 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. According to data from MarketBeat, Truist Financial presently has an average rating of “Moderate Buy” and an average price target of $50.79.

Truist Financial Price Performance

TFC opened at $47.90 on Wednesday. The stock’s 50-day moving average price is $45.43 and its 200 day moving average price is $43.66. Truist Financial Co. has a 12-month low of $34.23 and a 12-month high of $49.06. 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 firm has a market cap of $63.58 billion, a price-to-earnings ratio of 14.38, a PEG ratio of 1.86 and a beta of 1.08.

Truist Financial (NYSE:TFC) last posted its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5,047,370 billion. During the same quarter in the prior year, the company earned $0.81 EPS. Truist Financial’s revenue was up 3.4% on a year-over-year basis. As a group, sell-side analysts expect that Truist Financial Co. will post 3.87 earnings per share for the current year.

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.