Truist Financial Co. (NYSE:TFC) Holdings Boosted by Pathway Financial Advisors LLC

Pathway Financial Advisors LLC grew its stake in shares of Truist Financial Co. (NYSE:TFC) by 2.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,124 shares of the insurance provider’s stock after purchasing an additional 260 shares during the quarter. Pathway Financial Advisors LLC’s holdings in Truist Financial were worth $526,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Truist Financial by 48.7% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,963 shares of the insurance provider’s stock worth $129,000 after purchasing an additional 971 shares in the last quarter. Principal Financial Group Inc. increased its stake in Truist Financial by 3.5% during the 3rd quarter. Principal Financial Group Inc. now owns 1,511,299 shares of the insurance provider’s stock valued at $64,638,000 after buying an additional 50,637 shares during the period. Cadence Bank raised its position in shares of Truist Financial by 101.6% during the 3rd quarter. Cadence Bank now owns 185,184 shares of the insurance provider’s stock worth $7,920,000 after buying an additional 93,322 shares in the last quarter. Country Club Bank lifted its stake in shares of Truist Financial by 719.8% in the 4th quarter. Country Club Bank now owns 45,499 shares of the insurance provider’s stock worth $1,973,000 after acquiring an additional 39,949 shares during the period. Finally, David Wealth Management LLC bought a new position in shares of Truist Financial in the fourth quarter valued at approximately $2,354,000. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Price Performance

NYSE TFC opened at $46.80 on Monday. Truist Financial Co. has a 1 year low of $34.26 and a 1 year high of $49.06. The company has a fifty day simple moving average of $45.53 and a 200 day simple moving average of $44.35. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The company has a market cap of $62.13 billion, a P/E ratio of 14.06, a P/E/G ratio of 1.69 and a beta of 1.08.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. The business had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.81 earnings per share. On average, sell-side analysts predict that Truist Financial Co. will post 3.98 EPS for the current 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 dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.44%. The ex-dividend date is Friday, February 14th. Truist Financial’s dividend payout ratio (DPR) is currently 62.46%.

Insider Activity at Truist Financial

In other news, CEO William H. Rogers, Jr. purchased 34,180 shares of the stock in a transaction that occurred on 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 completion of the purchase, the chief executive officer now directly owns 691,451 shares of the company’s stock, valued at approximately $33,576,860.56. The trade was a 5.20 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director K. David Jr. Boyer sold 4,966 shares of Truist Financial stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total value of $229,429.20. Following the sale, the director now directly owns 11,246 shares in the company, valued at $519,565.20. The trade was a 30.63 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on TFC shares. Stephens upped their price objective on Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Compass Point upped their price target on shares of Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Citigroup lifted their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a research note on Monday, November 25th. Piper Sandler increased their target price on shares of Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Finally, Raymond James lifted their price target on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Eleven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Truist Financial presently has an average rating of “Moderate Buy” and an average price target of $50.79.

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.