Truist Financial Co. (NYSE:TFC) Shares Purchased by Silver Oak Securities Incorporated

Silver Oak Securities Incorporated boosted its stake in Truist Financial Co. (NYSE:TFC) by 57.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 11,715 shares of the insurance provider’s stock after purchasing an additional 4,269 shares during the period. Silver Oak Securities Incorporated’s holdings in Truist Financial were worth $433,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. OFI Invest Asset Management purchased a new stake in shares of Truist Financial during the 3rd quarter worth $26,000. Operose Advisors LLC acquired a new position in Truist Financial in the third quarter valued at $31,000. Tyler Stone Wealth Management acquired a new position in shares of Truist Financial during the third quarter worth about $33,000. Morton Brown Family Wealth LLC increased its stake in shares of Truist Financial by 236.0% during the fourth quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 649 shares during the period. Finally, Authentikos Wealth Advisory LLC acquired a new position in shares of Truist Financial during the third quarter worth about $36,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Insider Buying and Selling

In related news, Director K. David Jr. Boyer sold 3,764 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $37.48, for a total transaction of $141,074.72. Following the completion of the transaction, the director now owns 16,132 shares of the company’s stock, valued at $604,627.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.17% of the stock is currently owned by company insiders.

Truist Financial Stock Performance

Shares of TFC opened at $37.55 on Wednesday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market capitalization of $50.11 billion, a price-to-earnings ratio of -28.45, a PEG ratio of 2.02 and a beta of 1.08. The company’s 50 day simple moving average is $36.98 and its 200 day simple moving average is $35.03. Truist Financial Co. has a 1 year low of $25.56 and a 1 year high of $39.29.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.12. The business had revenue of $4.87 billion for the quarter, compared to the consensus estimate of $5.70 billion. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The company’s quarterly revenue was down 8.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.09 earnings per share. On average, sell-side analysts predict that Truist Financial Co. will post 3.27 EPS for the current year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 10th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 5.54%. The ex-dividend date is Thursday, May 9th. Truist Financial’s dividend payout ratio (DPR) is -157.58%.

Wall Street Analyst Weigh In

A number of analysts recently commented on TFC shares. UBS Group boosted their price objective on shares of Truist Financial from $45.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, April 5th. HSBC boosted their price objective on shares of Truist Financial from $37.00 to $39.00 and gave the stock a “hold” rating in a report on Thursday, March 28th. Keefe, Bruyette & Woods boosted their price objective on shares of Truist Financial from $44.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, April 5th. Jefferies Financial Group boosted their price objective on shares of Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a report on Monday, April 8th. Finally, Stephens reissued an “overweight” rating and set a $43.00 price objective on shares of Truist Financial in a report on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.97.

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.