12,058 Shares in Truist Financial Co. (NYSE:TFC) Purchased by Kingswood Wealth Advisors LLC

Kingswood Wealth Advisors LLC acquired a new position in shares of Truist Financial Co. (NYSE:TFC) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 12,058 shares of the insurance provider’s stock, valued at approximately $445,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fairfield Bush & CO. acquired a new stake in Truist Financial during the first quarter worth about $25,000. Quarry LP acquired a new stake in shares of Truist Financial in the first quarter valued at approximately $32,000. OFI Invest Asset Management acquired a new stake in shares of Truist Financial in the third quarter valued at approximately $26,000. Union Savings Bank acquired a new stake in shares of Truist Financial in the second quarter valued at approximately $36,000. Finally, Operose Advisors LLC acquired a new stake in shares of Truist Financial in the third quarter valued at approximately $31,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on TFC shares. Piper Sandler raised their price target on shares of Truist Financial from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, January 19th. Stephens upgraded shares of Truist Financial from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $41.00 to $43.00 in a report on Tuesday, March 19th. Morgan Stanley increased their price objective on shares of Truist Financial from $38.00 to $43.00 and gave the company an “equal weight” rating in a report on Tuesday, January 30th. TheStreet cut shares of Truist Financial from a “b-” rating to a “c” rating in a report on Tuesday, February 20th. Finally, Bank of America upgraded shares of Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 price objective for the company in a report on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $39.47.

Insider Buying and Selling

In related news, Director K. David Jr. Boyer sold 3,764 shares of Truist Financial stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $37.48, for a total value of $141,074.72. Following the transaction, the director now owns 16,132 shares in the company, valued at approximately $604,627.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.17% of the company’s stock.

Truist Financial Stock Performance

Truist Financial stock opened at $38.59 on Thursday. The company has a 50 day moving average price of $36.36 and a 200 day moving average price of $33.39. Truist Financial Co. has a 52 week low of $25.56 and a 52 week high of $38.61. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.74.

Truist Financial (NYSE:TFC) last released its earnings results on Thursday, January 18th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.13. Truist Financial had a negative net margin of 3.28% and a positive return on equity of 9.64%. The company had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.70 billion. During the same quarter in the prior year, the firm earned $1.30 EPS. On average, equities analysts forecast that Truist Financial Co. will post 3.39 earnings per share for the current year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 9th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.39%. Truist Financial’s dividend payout ratio is currently -192.59%.

Truist Financial 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.