Czech National Bank Boosts Position in Truist Financial Co. (NYSE:TFC)

Czech National Bank grew its holdings in Truist Financial Co. (NYSE:TFC) by 5.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 287,833 shares of the insurance provider’s stock after acquiring an additional 15,036 shares during the period. Czech National Bank’s holdings in Truist Financial were worth $12,486,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in TFC. Graypoint LLC grew its position in Truist Financial by 8.9% during the 4th quarter. Graypoint LLC now owns 6,745 shares of the insurance provider’s stock worth $293,000 after purchasing an additional 550 shares during the period. RMR Wealth Builders grew its holdings in Truist Financial by 1.7% during the fourth quarter. RMR Wealth Builders now owns 19,165 shares of the insurance provider’s stock worth $831,000 after acquiring an additional 324 shares during the period. Sugarloaf Wealth Management LLC raised its position in Truist Financial by 23.4% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 6,848 shares of the insurance provider’s stock valued at $297,000 after acquiring an additional 1,298 shares in the last quarter. Franklin Street Advisors Inc. NC boosted its position in Truist Financial by 12.3% in the 4th quarter. Franklin Street Advisors Inc. NC now owns 10,957 shares of the insurance provider’s stock worth $475,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of Truist Financial by 0.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 494,122 shares of the insurance provider’s stock worth $21,134,000 after purchasing an additional 1,336 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Up 0.8 %

Shares of NYSE:TFC opened at $43.13 on Tuesday. Truist Financial Co. has a 52-week low of $34.23 and a 52-week high of $49.06. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62. The business has a fifty day moving average of $45.38 and a two-hundred day moving average of $43.42. The stock has a market cap of $57.26 billion, a P/E ratio of -30.16, a PEG ratio of 1.88 and a beta of 1.08.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.08. The firm had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. On average, research analysts expect that Truist Financial Co. will post 3.7 earnings per share for the current year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 8th were given a $0.52 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $2.08 annualized dividend and a yield of 4.82%. Truist Financial’s payout ratio is -145.45%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on TFC shares. Barclays increased their price target on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. StockNews.com cut Truist Financial from a “hold” rating to a “sell” rating in a research report on Thursday, January 9th. Royal Bank of Canada upped their price target on Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Wells Fargo & Company raised their price objective on Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, Compass Point upped their target price on Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $49.89.

Insiders Place Their Bets

In other news, CEO William H. Rogers, Jr. purchased 34,180 shares of the 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 transaction, the chief executive officer now directly owns 691,451 shares in the company, valued at approximately $33,576,860.56. This represents a 5.20 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director K. David Jr. Boyer sold 4,966 shares of the stock in a transaction dated 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 in the company, valued at approximately $519,565.20. The trade was a 30.63 % decrease in their position. The disclosure for this sale can be found here. 0.17% of the stock is owned by insiders.

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.