Geneos Wealth Management Inc. boosted its position in shares of Truist Financial Co. (NYSE:TFC – Free Report) by 3.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,081 shares of the insurance provider’s stock after buying an additional 437 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Truist Financial were worth $611,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Bangor Savings Bank boosted its holdings 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 during the period. Valley Wealth Managers Inc. bought a new position in Truist Financial during the 3rd quarter valued at approximately $26,000. MidAtlantic Capital Management Inc. purchased a new stake in Truist Financial in the 3rd quarter worth approximately $32,000. Fortitude Family Office LLC grew its position 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 worth $37,000 after buying an additional 678 shares during the last quarter. Finally, Ashton Thomas Securities LLC bought a new position in shares of Truist Financial during the third quarter valued at approximately $45,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.
Insider Buying and Selling
In other Truist Financial news, CEO William H. Rogers, Jr. purchased 34,180 shares of Truist Financial stock in a transaction dated Monday, November 25th. The stock was purchased 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 $33,576,860.56. This trade represents a 5.20 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director K. David Jr. Boyer sold 4,966 shares of the firm’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 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 disclosure for this sale can be found here. 0.17% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
Check Out Our Latest Research Report on Truist Financial
Truist Financial Stock Performance
TFC stock opened at $47.25 on Wednesday. The stock’s 50 day simple moving average is $45.50 and its 200 day simple moving average is $43.95. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. Truist Financial Co. has a 12-month low of $34.23 and a 12-month high of $49.06. The stock has a market capitalization of $62.72 billion, a PE ratio of 14.19, a price-to-earnings-growth ratio of 1.67 and a beta of 1.08.
Truist Financial (NYSE:TFC – Get Free Report) last announced its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $5.05 billion. During the same period in the prior year, the company posted $0.81 earnings per share. The company’s quarterly revenue was up 3.4% on a year-over-year basis. As a group, research analysts forecast that Truist Financial Co. will post 3.95 earnings per share for the current fiscal year.
Truist Financial Dividend Announcement
The business also recently disclosed 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 4.40%. Truist Financial’s dividend payout ratio (DPR) is 62.46%.
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.
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