Canandaigua National Bank & Trust Co. Buys Shares of 34,085 Truist Financial Corporation (NYSE:TFC)

Canandaigua National Bank & Trust Co. bought a new stake in Truist Financial Corporation (NYSE:TFC) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 34,085 shares of the insurance provider’s stock, valued at approximately $1,920,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new position in shares of Truist Financial during the second quarter worth $26,000. Reilly Financial Advisors LLC acquired a new position in shares of Truist Financial during the fourth quarter worth $27,000. Proffitt & Goodson Inc. grew its stake in shares of Truist Financial by 93.4% during the third quarter. Proffitt & Goodson Inc. now owns 586 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 283 shares in the last quarter. Hoey Investments Inc. acquired a new position in shares of Truist Financial during the fourth quarter worth $31,000. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Truist Financial during the third quarter worth $40,000. 71.73% of the stock is currently owned by institutional investors.

In other news, VP Brantley J. Standridge sold 8,580 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $54.90, for a total transaction of $471,042.00. Following the completion of the sale, the vice president now owns 12,059 shares in the company, valued at $662,039.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas E. Skains sold 4,285 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $54.25, for a total transaction of $232,461.25. Following the sale, the director now owns 30,753 shares of the company’s stock, valued at approximately $1,668,350.25. The disclosure for this sale can be found here. Insiders have sold 225,327 shares of company stock valued at $12,227,882 in the last quarter. Insiders own 0.49% of the company’s stock.

A number of equities analysts recently commented on the stock. Credit Suisse Group assumed coverage on shares of Truist Financial in a research note on Monday, December 16th. They set a “neutral” rating and a $55.00 target price for the company. Janney Montgomery Scott downgraded shares of Truist Financial from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. Goldman Sachs Group began coverage on shares of Truist Financial in a research note on Monday, December 9th. They set a “buy” rating for the company. Jefferies Financial Group upgraded shares of Truist Financial from a “hold” rating to a “buy” rating and upped their price objective for the company from $52.00 to $58.00 in a research note on Tuesday, October 8th. Finally, ValuEngine downgraded shares of Truist Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company’s stock. Truist Financial presently has a consensus rating of “Buy” and a consensus price target of $55.85.

NYSE TFC traded up $0.31 during trading hours on Friday, hitting $56.17. The company had a trading volume of 2,471,991 shares, compared to its average volume of 5,748,683. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.84 and a current ratio of 0.85. Truist Financial Corporation has a 1-year low of $44.51 and a 1-year high of $56.92. The company has a market cap of $42.97 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 1.78 and a beta of 1.18. The business has a 50 day moving average of $55.62 and a 200-day moving average of $52.18.

Truist Financial (NYSE:TFC) last announced its earnings results on Thursday, October 17th. The insurance provider reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.04. Truist Financial had a net margin of 23.17% and a return on equity of 12.25%. The business had revenue of $3 billion during the quarter, compared to the consensus estimate of $2.99 billion. During the same quarter in the prior year, the firm earned $1.01 earnings per share. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. Sell-side analysts expect that Truist Financial Corporation will post 4.26 earnings per share for the current fiscal year.

Truist Financial Profile

Truist Financial Corp., formerly BB&T, is a bank holding company based in Charlotte, North Carolina. Its bank operates 2,049 branches in 15 states and Washington, DC, and offers consumer and commercial banking, securities brokerage, asset management, mortgage, and insurance products and services.

Featured Story: The risks of owning bonds

Want to see what other hedge funds are holding TFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Truist Financial Corporation (NYSE:TFC).

Institutional Ownership by Quarter for Truist Financial (NYSE:TFC)

Receive News & Ratings for Truist Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Truist Financial and related companies with MarketBeat.com's FREE daily email newsletter.