Wedmont Private Capital Boosts Stock Position in Truist Financial Co. (NYSE:TFC)

Wedmont Private Capital increased its stake in Truist Financial Co. (NYSE:TFC) by 19.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,348 shares of the insurance provider’s stock after buying an additional 1,978 shares during the quarter. Wedmont Private Capital’s holdings in Truist Financial were worth $528,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Salem Investment Counselors Inc. lifted its position in shares of Truist Financial by 0.5% during the fourth quarter. Salem Investment Counselors Inc. now owns 292,822 shares of the insurance provider’s stock worth $12,703,000 after purchasing an additional 1,581 shares during the last quarter. Capital Investment Advisors LLC lifted its position in shares of Truist Financial by 1.7% during the fourth quarter. Capital Investment Advisors LLC now owns 39,413 shares of the insurance provider’s stock worth $1,710,000 after purchasing an additional 656 shares during the last quarter. Brookstone Capital Management lifted its position in shares of Truist Financial by 2.1% during the fourth quarter. Brookstone Capital Management now owns 275,849 shares of the insurance provider’s stock worth $11,966,000 after purchasing an additional 5,765 shares during the last quarter. City State Bank lifted its position in shares of Truist Financial by 158.1% during the fourth quarter. City State Bank now owns 1,169 shares of the insurance provider’s stock worth $51,000 after purchasing an additional 716 shares during the last quarter. Finally, Fiduciary Alliance LLC lifted its position in shares of Truist Financial by 8.4% during the fourth quarter. Fiduciary Alliance LLC now owns 97,618 shares of the insurance provider’s stock worth $4,235,000 after purchasing an additional 7,597 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors.

Insider Activity at Truist Financial

In other news, CEO William H. Rogers, Jr. bought 34,180 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were purchased at an average price 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 ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director K. David Jr. Boyer sold 4,966 shares of the company’s stock in a transaction that occurred on 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 owns 11,246 shares in the company, valued at approximately $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 insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TFC. Barclays lifted their price objective on Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Keefe, Bruyette & Woods lifted their price objective on Truist Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Royal Bank of Canada lifted their price objective on Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, October 18th. UBS Group lifted their price objective on Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a report on Friday, October 18th. Finally, StockNews.com downgraded Truist Financial from a “hold” rating to a “sell” rating in a report on Thursday, January 9th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Truist Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.89.

Truist Financial Price Performance

Shares of TFC stock opened at $45.40 on Thursday. Truist Financial Co. has a fifty-two week low of $34.23 and a fifty-two week high of $49.06. The firm has a market capitalization of $60.27 billion, a price-to-earnings ratio of -31.75, a PEG ratio of 1.88 and a beta of 1.08. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85. The stock’s 50-day simple moving average is $45.41 and its 200-day simple moving average is $43.46.

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

Truist Financial Dividend Announcement

The company also recently announced 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 was Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.58%. Truist Financial’s dividend payout ratio is currently -145.45%.

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.