Truist Financial Co. (NYSE:TFC) Stock Position Raised by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC boosted its holdings in Truist Financial Co. (NYSE:TFC) by 0.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 494,122 shares of the insurance provider’s stock after acquiring an additional 1,336 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Truist Financial were worth $21,134,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TFC. Bangor Savings Bank increased its stake in shares of Truist Financial by 92.5% in the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 272 shares during the period. Valley Wealth Managers Inc. bought a new position in Truist Financial in the 3rd quarter worth approximately $26,000. Y.D. More Investments Ltd bought a new stake in Truist Financial during the 2nd quarter valued at $31,000. MidAtlantic Capital Management Inc. acquired a new position in Truist Financial during the 3rd quarter worth $32,000. Finally, Fortitude Family Office LLC grew its stake in shares of Truist Financial by 376.7% in 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. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Truist Financial

In other news, Director K. David Jr. Boyer sold 4,966 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total transaction of $229,429.20. Following the transaction, the director now owns 11,246 shares in the company, valued at $519,565.20. This represents a 30.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William H. Rogers, Jr. acquired 34,180 shares of Truist Financial stock in a transaction that occurred on Monday, November 25th. The stock was acquired at an average cost of $48.56 per share, with a total value of $1,659,780.80. Following the purchase, the chief executive officer now 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. Company insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TFC. HSBC upgraded shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research note on Tuesday, January 7th. UBS Group upped their price target on shares of Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Keefe, Bruyette & Woods raised their price objective on shares of Truist Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. 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 report on Tuesday, December 10th. Finally, Hsbc Global Res upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. One research 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.89.

Truist Financial Price Performance

TFC opened at $42.83 on Friday. The firm has a market capitalization of $56.86 billion, a P/E ratio of -29.95, a PEG ratio of 1.88 and a beta of 1.08. The stock has a fifty day moving average of $45.36 and a 200-day moving average of $43.34. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62. Truist Financial Co. has a 12-month low of $34.23 and a 12-month high of $49.06.

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

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 8th were given a $0.52 dividend. The ex-dividend date was Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.86%. Truist Financial’s payout ratio is -145.45%.

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.