Coldstream Capital Management Inc. Increases Stock Holdings in Truist Financial Co. (NYSE:TFC)

Coldstream Capital Management Inc. boosted its stake in Truist Financial Co. (NYSE:TFC) by 1.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,593 shares of the insurance provider’s stock after acquiring an additional 274 shares during the period. Coldstream Capital Management Inc.’s holdings in Truist Financial were worth $722,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in TFC. Parnassus Investments LLC bought a new position in Truist Financial in the fourth quarter worth about $95,049,000. Rafferty Asset Management LLC lifted its stake in shares of Truist Financial by 47.7% in the 4th quarter. Rafferty Asset Management LLC now owns 1,185,259 shares of the insurance provider’s stock valued at $43,760,000 after purchasing an additional 382,976 shares during the period. Treasurer of the State of North Carolina boosted its position in shares of Truist Financial by 4.1% during the fourth quarter. Treasurer of the State of North Carolina now owns 624,320 shares of the insurance provider’s stock valued at $23,050,000 after purchasing an additional 24,535 shares in the last quarter. Norden Group LLC purchased a new stake in Truist Financial in the first quarter worth $2,351,000. Finally, Nordea Investment Management AB raised its holdings in Truist Financial by 44.4% in the first quarter. Nordea Investment Management AB now owns 2,712,848 shares of the insurance provider’s stock worth $105,353,000 after purchasing an additional 834,048 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Bank of America boosted their target price on shares of Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Argus upped their price objective on shares of Truist Financial from $44.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Barclays lifted their target price on shares of Truist Financial from $43.00 to $47.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. Stephens reaffirmed an “overweight” rating and set a $50.00 price objective on shares of Truist Financial in a research report on Tuesday. Finally, Royal Bank of Canada lifted their price objective on Truist Financial from $42.00 to $45.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $45.45.

Truist Financial Trading Down 0.0 %

NYSE:TFC opened at $41.63 on Friday. The company has a 50 day simple moving average of $42.46 and a two-hundred day simple moving average of $39.23. The company has a market cap of $55.75 billion, a PE ratio of -31.54, a price-to-earnings-growth ratio of 1.97 and a beta of 1.06. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61. Truist Financial Co. has a 12 month low of $26.57 and a 12 month high of $45.31.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Monday, July 22nd. The insurance provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.84 by $0.07. Truist Financial had a positive return on equity of 9.18% and a negative net margin of 5.63%. The company had revenue of $5.02 billion during the quarter, compared to analyst estimates of $4.83 billion. During the same quarter in the previous year, the company posted $0.95 earnings per share. Truist Financial’s revenue was down 15.9% compared to the same quarter last year. Research analysts forecast that Truist Financial Co. will post 3.55 earnings per share for the current year.

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.00%. The ex-dividend date was Friday, August 9th. Truist Financial’s payout ratio is -157.58%.

Insider Activity at Truist Financial

In other Truist Financial news, CEO William H. Rogers, Jr. purchased 57,300 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were acquired at an average price of $43.96 per share, for a total transaction of $2,518,908.00. Following the purchase, the chief executive officer now directly owns 569,271 shares of the company’s stock, valued at approximately $25,025,153.16. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO William H. Rogers, Jr. acquired 57,300 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The shares were purchased at an average price of $43.96 per share, with a total value of $2,518,908.00. Following the completion of the purchase, the chief executive officer now directly owns 569,271 shares of the company’s stock, valued at $25,025,153.16. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Cynthia B. Powell sold 6,688 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $44.14, for a total value of $295,208.32. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by company insiders.

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.