Truist Financial Co. (NYSE:TFC) Shares Purchased by Spire Wealth Management

Spire Wealth Management grew its position in shares of Truist Financial Co. (NYSE:TFC) by 2.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 29,055 shares of the insurance provider’s stock after purchasing an additional 657 shares during the quarter. Spire Wealth Management’s holdings in Truist Financial were worth $1,089,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Truist Financial by 0.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 513,851 shares of the insurance provider’s stock worth $14,701,000 after acquiring an additional 2,634 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in shares of Truist Financial by 10.3% in the third quarter. Mackenzie Financial Corp now owns 152,687 shares of the insurance provider’s stock worth $4,152,000 after buying an additional 14,230 shares during the period. IFM Investors Pty Ltd raised its holdings in shares of Truist Financial by 3.7% during the third quarter. IFM Investors Pty Ltd now owns 280,475 shares of the insurance provider’s stock valued at $8,024,000 after acquiring an additional 9,926 shares during the period. Washington Capital Management Inc. purchased a new stake in shares of Truist Financial in the 3rd quarter valued at approximately $343,000. Finally, NBT Bank N A NY grew its position in Truist Financial by 2.9% during the 3rd quarter. NBT Bank N A NY now owns 12,781 shares of the insurance provider’s stock worth $366,000 after purchasing an additional 366 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Insider Activity

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of Truist Financial stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $37.48, for a total transaction of $141,074.72. Following the sale, the director now directly owns 16,132 shares of the company’s stock, valued at $604,627.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.17% of the company’s stock.

Truist Financial Trading Down 0.6 %

Shares of Truist Financial stock opened at $38.87 on Wednesday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.75. Truist Financial Co. has a 1 year low of $26.49 and a 1 year high of $40.35. The company’s fifty day simple moving average is $37.34 and its 200-day simple moving average is $35.39. The company has a market cap of $51.88 billion, a price-to-earnings ratio of -29.63, a PEG ratio of 2.03 and a beta of 1.07.

Truist Financial (NYSE:TFC) last released its earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.12. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The business had revenue of $4.87 billion for the quarter, compared to the consensus estimate of $5.70 billion. During the same period last year, the business earned $1.09 earnings per share. The firm’s revenue for the quarter was down 8.8% compared to the same quarter last year. As a group, sell-side analysts expect that Truist Financial Co. will post 3.3 EPS for the current year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 10th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 5.35%. The ex-dividend date is Thursday, May 9th. Truist Financial’s dividend payout ratio (DPR) is presently -157.58%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on TFC. StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a report on Thursday, May 2nd. UBS Group boosted their price objective on shares of Truist Financial from $45.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, April 5th. Jefferies Financial Group lifted their target price on shares of Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a research note on Monday, April 8th. Wells Fargo & Company increased their price objective on Truist Financial from $39.00 to $45.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Finally, Royal Bank of Canada raised their price target on Truist Financial from $40.00 to $42.00 and gave the stock an “outperform” rating in a research note on Friday, January 19th. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Truist Financial has an average rating of “Moderate Buy” and an average target price of $41.88.

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.