Truist Financial Co. (NYSE:TFC) Shares Purchased by Lindbrook Capital LLC

Lindbrook Capital LLC boosted its stake in shares of Truist Financial Co. (NYSE:TFC) by 112.5% during the 4th quarter, Holdings Channel reports. The firm owned 5,896 shares of the insurance provider’s stock after acquiring an additional 3,121 shares during the quarter. Lindbrook Capital LLC’s holdings in Truist Financial were worth $218,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. North Reef Capital Management LP purchased a new stake in shares of Truist Financial during the third quarter valued at $66,804,000. Assenagon Asset Management S.A. grew its stake in Truist Financial by 342.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,526,939 shares of the insurance provider’s stock valued at $72,296,000 after purchasing an additional 1,955,448 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of Truist Financial by 45.1% in the third quarter. Jennison Associates LLC now owns 3,673,609 shares of the insurance provider’s stock valued at $105,102,000 after purchasing an additional 1,141,944 shares during the period. International Assets Investment Management LLC raised its stake in shares of Truist Financial by 3,359.6% in the fourth quarter. International Assets Investment Management LLC now owns 1,045,560 shares of the insurance provider’s stock worth $38,602,000 after purchasing an additional 1,015,338 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Truist Financial by 1,155.4% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,054,500 shares of the insurance provider’s stock worth $30,169,000 after purchasing an additional 970,500 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Up 3.4 %

TFC stock opened at $38.04 on Tuesday. Truist Financial Co. has a 52 week low of $25.56 and a 52 week high of $39.29. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.74. The firm has a 50-day simple moving average of $36.68 and a 200-day simple moving average of $34.62. The stock has a market capitalization of $50.77 billion, a P/E ratio of -35.22, a P/E/G ratio of 2.27 and a beta of 1.08.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.78 by $0.12. The company had revenue of $4.87 billion during the quarter, compared to analyst estimates of $5.70 billion. Truist Financial had a positive return on equity of 9.64% and a negative net margin of 3.28%. Truist Financial’s quarterly revenue was down 8.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.09 EPS. Equities analysts forecast that Truist Financial Co. will post 3.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was 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 available at the SEC website. 0.17% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on TFC. StockNews.com lowered shares of Truist Financial from a “hold” rating to a “sell” rating in a research report on Thursday, March 28th. Barclays raised their target price on shares of Truist Financial from $40.00 to $42.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 2nd. HSBC upped their price target on shares of Truist Financial from $37.00 to $39.00 and gave the company a “hold” rating in a report on Thursday, March 28th. Raymond James lifted their price objective on Truist Financial from $34.00 to $41.00 and gave the company an “outperform” rating in a research note on Friday, January 5th. Finally, Stephens upgraded Truist Financial from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $41.00 to $43.00 in a research note on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $41.56.

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.