First City Capital Management Inc. Has $655,000 Stock Holdings in Truist Financial Co. (NYSE:TFC)

First City Capital Management Inc. raised its position in Truist Financial Co. (NYSE:TFC) by 3.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,101 shares of the insurance provider’s stock after buying an additional 520 shares during the quarter. First City Capital Management Inc.’s holdings in Truist Financial were worth $655,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of TFC. Van ECK Associates Corp lifted its position in shares of Truist Financial by 255.7% during the 2nd quarter. Van ECK Associates Corp now owns 84,016 shares of the insurance provider’s stock valued at $3,264,000 after acquiring an additional 60,395 shares during the period. Farther Finance Advisors LLC increased its holdings in Truist Financial by 165.3% in the 2nd quarter. Farther Finance Advisors LLC now owns 9,488 shares of the insurance provider’s stock valued at $372,000 after buying an additional 5,912 shares during the period. Natixis Advisors LLC raised its position in shares of Truist Financial by 17.9% in the 2nd quarter. Natixis Advisors LLC now owns 420,950 shares of the insurance provider’s stock valued at $16,354,000 after buying an additional 64,001 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of Truist Financial by 0.8% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 114,915 shares of the insurance provider’s stock worth $4,464,000 after acquiring an additional 918 shares during the period. Finally, Larson Financial Group LLC increased its stake in Truist Financial by 22.8% in the second quarter. Larson Financial Group LLC now owns 2,454 shares of the insurance provider’s stock valued at $95,000 after acquiring an additional 456 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Performance

NYSE TFC traded up $0.53 during trading hours on Friday, reaching $43.86. 2,507,274 shares of the company were exchanged, compared to its average volume of 3,737,206. Truist Financial Co. has a 1 year low of $34.23 and a 1 year high of $49.06. The business’s 50 day simple moving average is $45.27 and its 200-day simple moving average is $43.00. The stock has a market capitalization of $58.23 billion, a P/E ratio of -30.67, a P/E/G ratio of 1.88 and a beta of 1.06. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62.

Truist Financial (NYSE:TFC) last issued its earnings results on Thursday, October 17th. The insurance provider reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $5.09 billion for the quarter, compared to analyst estimates of $5.05 billion. On average, equities research analysts expect that Truist Financial Co. will post 3.7 earnings per share for the current year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 8th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.74%. The ex-dividend date was Friday, November 8th. Truist Financial’s payout ratio is currently -145.45%.

Insider Activity at Truist Financial

In other news, CEO William H. Rogers, Jr. acquired 34,180 shares of Truist Financial stock in a transaction dated Monday, November 25th. The shares were purchased at an average cost of $48.56 per share, for a total transaction of $1,659,780.80. Following the transaction, the chief executive officer now owns 691,451 shares of the company’s stock, valued at $33,576,860.56. This trade represents a 5.20 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director K. David Jr. Boyer sold 4,966 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total transaction of $229,429.20. Following the completion of the transaction, the director now owns 11,246 shares in the company, valued at $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 currently owned by corporate insiders.

Analysts Set New Price Targets

TFC has been the subject of several recent analyst reports. Compass Point upped their target price on Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. The Goldman Sachs Group boosted their target price on Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. JPMorgan Chase & Co. increased their target price on shares of Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Finally, Wells Fargo & Company boosted their target price on shares of Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Twelve equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Truist Financial has an average rating of “Hold” and an average price target of $48.74.

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.