Foundations Investment Advisors LLC Has $1.80 Million Stake in Truist Financial Co. (NYSE:TFC)

Foundations Investment Advisors LLC boosted its holdings in shares of Truist Financial Co. (NYSE:TFC) by 29.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,381 shares of the insurance provider’s stock after buying an additional 9,483 shares during the period. Foundations Investment Advisors LLC’s holdings in Truist Financial were worth $1,795,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Bangor Savings Bank boosted its stake in Truist Financial by 92.5% during the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 272 shares during the last quarter. Valley Wealth Managers Inc. purchased a new position in shares of Truist Financial during the third quarter valued at approximately $26,000. MidAtlantic Capital Management Inc. bought a new stake in Truist Financial during the third quarter worth $32,000. Fortitude Family Office LLC raised its position in Truist Financial by 376.7% in the 3rd quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock valued at $37,000 after buying an additional 678 shares during the last quarter. Finally, Ashton Thomas Securities LLC bought a new position in Truist Financial during the 3rd quarter valued at $45,000. 71.28% of the stock is owned by institutional investors.

Insider Activity at Truist Financial

In other news, CEO William H. Rogers, Jr. bought 34,180 shares of the business’s stock in a transaction on Monday, November 25th. The stock was acquired at an average price of $48.56 per share, with a total value of $1,659,780.80. Following the completion of the purchase, the chief executive officer now directly owns 691,451 shares in the company, valued at $33,576,860.56. This represents a 5.20 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director K. David Jr. Boyer sold 4,966 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total transaction of $229,429.20. Following the transaction, the director now owns 11,246 shares in the company, valued at $519,565.20. The trade was a 30.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.17% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TFC. Stephens increased their target price on shares of Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Wells Fargo & Company lifted their target price on shares of Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. UBS Group upped their target price on Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a report on Friday, October 18th. Raymond James lifted their price target on Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. Eleven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Truist Financial has an average rating of “Moderate Buy” and an average price target of $50.79.

Truist Financial Price Performance

Shares of NYSE TFC opened at $47.25 on Wednesday. The stock’s 50-day simple moving average is $45.50 and its two-hundred day simple moving average is $43.95. Truist Financial Co. has a twelve month low of $34.23 and a twelve month high of $49.06. The firm has a market capitalization of $62.72 billion, a P/E ratio of 14.19, a P/E/G ratio of 1.67 and a beta of 1.08. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61.

Truist Financial (NYSE:TFC) last announced its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The business had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.05 billion. During the same period last year, the firm posted $0.81 earnings per share. Truist Financial’s quarterly revenue was up 3.4% on a year-over-year basis. As a group, equities analysts anticipate that Truist Financial Co. will post 3.95 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.40%. Truist Financial’s dividend payout ratio (DPR) is presently 62.46%.

Truist Financial Company 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.