Godsey & Gibb Associates Purchases New Holdings in Truist Financial Corporation (NYSE:TFC)

Godsey & Gibb Associates purchased a new stake in Truist Financial Corporation (NYSE:TFC) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 346,523 shares of the insurance provider’s stock, valued at approximately $19,516,000. Truist Financial makes up about 2.7% of Godsey & Gibb Associates’ portfolio, making the stock its 4th largest position.

Other hedge funds have also recently made changes to their positions in the company. Hudock Capital Group LLC acquired a new position in shares of Truist Financial in the 4th quarter worth approximately $26,000. Riggs Asset Managment Co. Inc. bought a new position in Truist Financial in the 4th quarter valued at $26,000. NuWave Investment Management LLC acquired a new position in Truist Financial in the fourth quarter worth $26,000. Field & Main Bank acquired a new position in Truist Financial in the fourth quarter worth $26,000. Finally, Reilly Financial Advisors LLC bought a new stake in shares of Truist Financial during the fourth quarter worth $27,000. Institutional investors own 73.02% of the company’s stock.

In related news, CEO Kelly S. King sold 201,806 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $54.22, for a total transaction of $10,941,921.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Brantley J. Standridge sold 8,580 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $54.90, for a total value of $471,042.00. Following the transaction, the vice president now owns 12,059 shares of the company’s stock, valued at $662,039.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 225,327 shares of company stock valued at $12,227,882. Corporate insiders own 0.49% of the company’s stock.

NYSE:TFC traded down $0.18 during mid-day trading on Friday, hitting $54.64. The company had a trading volume of 613,914 shares, compared to its average volume of 5,490,059. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.92 and a current ratio of 0.94. Truist Financial Corporation has a fifty-two week low of $44.51 and a fifty-two week high of $56.92. The firm has a market cap of $41.76 billion, a P/E ratio of 14.53, a P/E/G ratio of 1.50 and a beta of 1.16. The business’s fifty day moving average is $55.21 and its two-hundred day moving average is $52.79.

Truist Financial (NYSE:TFC) last posted its earnings results on Thursday, January 30th. The insurance provider reported $1.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.10. The company had revenue of $3.63 billion during the quarter, compared to analyst estimates of $3.65 billion. Truist Financial had a return on equity of 10.03% and a net margin of 21.49%. During the same period in the previous year, the company earned $1.05 EPS. Equities analysts forecast that Truist Financial Corporation will post 4.4 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Friday, February 14th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 3.29%. The ex-dividend date is Thursday, February 13th. Truist Financial’s payout ratio is 41.19%.

Several research analysts recently issued reports on the stock. Citigroup upped their price target on shares of Truist Financial from $53.00 to $57.00 and gave the stock a “neutral” rating in a research report on Monday, December 16th. UBS Group decreased their price target on shares of Truist Financial from $53.00 to $52.00 and set a “neutral” rating on the stock in a research note on Monday, October 21st. Goldman Sachs Group began coverage on shares of Truist Financial in a report on Monday, December 9th. They issued a “buy” rating for the company. Janney Montgomery Scott cut shares of Truist Financial from a “buy” rating to a “neutral” rating in a research report on Monday, November 11th. Finally, Credit Suisse Group started coverage on Truist Financial in a report on Monday, December 16th. They set a “neutral” rating and a $55.00 price objective on the stock. Nine investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Truist Financial presently has a consensus rating of “Hold” and an average target price of $55.33.

About Truist Financial

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.

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

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