Y.D. More Investments Ltd Purchases 819 Shares of Truist Financial Co. (NYSE:TFC)

Y.D. More Investments Ltd raised its position in shares of Truist Financial Co. (NYSE:TFC) by 99.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,645 shares of the insurance provider’s stock after purchasing an additional 819 shares during the period. Y.D. More Investments Ltd’s holdings in Truist Financial were worth $71,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Activity at Truist Financial

In other news, Director K. David Jr. Boyer sold 4,966 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total transaction of $229,429.20. Following the sale, the director now directly owns 11,246 shares in the company, valued at $519,565.20. This trade represents a 30.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William H. Rogers, Jr. acquired 34,180 shares of the company’s stock in a transaction on Monday, November 25th. The stock was acquired at an average cost of $48.56 per share, for a total transaction of $1,659,780.80. Following the completion of the acquisition, 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 position. The disclosure for this purchase can be found here. 0.17% of the stock is owned by company insiders.

Analyst Ratings Changes

TFC has been the topic of several recent research reports. Piper Sandler increased their target price on Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. JPMorgan Chase & Co. raised their price objective on Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Hsbc Global Res upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Royal Bank of Canada raised their price target on shares of Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Finally, HSBC upgraded shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Tuesday, January 7th. Eleven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $50.79.

Truist Financial Stock Performance

TFC opened at $47.64 on Thursday. The firm has a 50 day moving average of $45.52 and a two-hundred day moving average of $44.18. The firm has a market capitalization of $63.24 billion, a PE ratio of 14.31, a P/E/G ratio of 1.69 and a beta of 1.08. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. Truist Financial Co. has a 12-month low of $34.23 and a 12-month high of $49.06.

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

Truist Financial Dividend Announcement

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 issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.37%. The ex-dividend date of this dividend is Friday, February 14th. Truist Financial’s dividend payout ratio (DPR) is 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.