Rhumbline Advisers Sells 55,593 Shares of Truist Financial Co. (NYSE:TFC)
Rhumbline Advisers reduced its stake in Truist Financial Co. (NYSE:TFC) by 2.2%, selling 55,593 shares during the 4th quarter, leaving it with 2,459,593 shares valued at approximately $106.7 million. The company reported a quarterly EPS of $0.91, exceeding estimates, and announced a dividend of $0.52 per share. CEO William H. Rogers, Jr. purchased 34,180 shares, while Director K. David Jr. Boyer sold 4,966 shares. Truist's stock opened at $46.80, with a market cap of $62.13 billion and a dividend yield of 4.44%.
Rhumbline Advisers lessened its holdings in Truist Financial Co. (NYSE:TFC - Free Report) by 2.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,459,593 shares of the insurance provider's stock after selling 55,593 shares during the quarter. Rhumbline Advisers owned approximately 0.19% of Truist Financial worth $106,697,000 as of its most recent filing with the Securities & Exchange Commission.
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Several other hedge funds also recently bought and sold shares of the business. Bangor Savings Bank grew its position in shares of Truist Financial by 92.5% during the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider's stock worth $25,000 after buying an additional 272 shares in the last quarter. Valley Wealth Managers Inc. bought a new position in shares of Truist Financial during the 3rd quarter worth $26,000. MidAtlantic Capital Management Inc. bought a new position in shares of Truist Financial during the 3rd quarter worth $32,000. Fortitude Family Office LLC grew its position in shares of Truist Financial by 376.7% during the 3rd quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider's stock worth $37,000 after buying an additional 678 shares in the last quarter. Finally, Ashton Thomas Securities LLC bought a new position in shares of Truist Financial during the 3rd quarter worth $45,000. Institutional investors own 71.28% of the company's stock.
Truist Financial Trading Up 0.7 %
Shares of NYSE:TFC opened at $46.80 on Friday. Truist Financial Co. has a 52-week low of $34.26 and a 52-week high of $49.06. The stock has a market cap of $62.13 billion, a price-to-earnings ratio of 14.06, a PEG ratio of 1.69 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. The business has a 50-day moving average price of $45.53 and a 200-day moving average price of $44.35.
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Truist Financial (NYSE:TFC - Get Free Report) last announced its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.03. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The firm had revenue of $5.11 billion during the quarter, compared to analysts' expectations of $5.05 billion. During the same period last year, the business posted $0.81 earnings per share. The company's revenue for the quarter was up 3.4% compared to the same quarter last year. Equities 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 issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.44%. The ex-dividend date of this dividend is Friday, February 14th. Truist Financial's dividend payout ratio (DPR) is 62.46%.
Insider Buying and Selling
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In related news, CEO William H. Rogers, Jr. bought 34,180 shares of the company's stock in a transaction that occurred on Monday, November 25th. The shares were purchased at an average cost of $48.56 per share, with a total value of $1,659,780.80. Following the completion of the acquisition, the chief executive officer now directly owns 691,451 shares in the company, valued at approximately $33,576,860.56. The trade was a 5.20 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 shares were sold at an average price of $46.20, for a total value of $229,429.20. Following the completion of the sale, the director now directly owns 11,246 shares in the company, valued at approximately $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 corporate insiders.
Wall Street Analysts Forecast Growth
TFC has been the topic of a number of recent research reports. Citigroup increased their price target on Truist Financial from $47.00 to $51.00 and gave the stock a "neutral" rating in a research report on Monday, November 25th. HSBC upgraded 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. Morgan Stanley upped their price objective on Truist Financial from $55.00 to $56.00 and gave the stock an "equal weight" rating in a research note on Tuesday, January 21st. Barclays upped their price objective on Truist Financial from $47.00 to $51.00 and gave the stock an "equal weight" rating in a research note on Monday, January 6th. Finally, Hsbc Global Res upgraded Truist Financial from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 7th. Eleven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Truist Financial currently has a consensus rating of "Moderate Buy" and a consensus target price of $50.79.
Get Our Latest Stock Report on TFC
About Truist Financial
(Free Report)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.
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