Truist Financial Co. (NYSE:TFC) Shares Sold by MADDEN SECURITIES Corp

MADDEN SECURITIES Corp cut its stake in Truist Financial Co. (NYSE:TFC) by 2.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,900 shares of the insurance provider’s stock after selling 600 shares during the quarter. MADDEN SECURITIES Corp’s holdings in Truist Financial were worth $1,080,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Global Wealth Management Investment Advisory Inc. raised its stake in Truist Financial by 4.8% during the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 81,823 shares of the insurance provider’s stock worth $3,550,000 after purchasing an additional 3,720 shares during the period. Ferguson Wellman Capital Management Inc. increased its holdings in shares of Truist Financial by 5.7% during the 4th quarter. Ferguson Wellman Capital Management Inc. now owns 5,452 shares of the insurance provider’s stock worth $237,000 after buying an additional 294 shares during the last quarter. Savant Capital LLC raised its position in shares of Truist Financial by 22.3% during the 4th quarter. Savant Capital LLC now owns 73,966 shares of the insurance provider’s stock valued at $3,209,000 after buying an additional 13,482 shares during the period. HTLF Bank acquired a new position in Truist Financial in the fourth quarter valued at approximately $200,000. Finally, Newbridge Financial Services Group Inc. grew its position in Truist Financial by 785.1% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 4,452 shares of the insurance provider’s stock worth $193,000 after acquiring an additional 3,949 shares during the period. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on TFC. Stephens lifted their target price on Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Compass Point upped their target price on shares of Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Hsbc Global Res upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Morgan Stanley boosted their price target on shares of Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. Finally, Raymond James lifted their target price on shares of Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Eleven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $50.79.

Insider Transactions at Truist Financial

In related news, Director K. David Jr. Boyer sold 4,966 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total transaction of $229,429.20. Following the completion of the sale, the director now owns 11,246 shares in the company, valued at $519,565.20. The trade was a 30.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William H. Rogers, Jr. purchased 34,180 shares of the company’s stock in a transaction on Monday, November 25th. The stock was bought at an average price 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 $33,576,860.56. The trade was a 5.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.17% of the company’s stock.

Truist Financial Stock Performance

Shares of Truist Financial stock opened at $47.15 on Tuesday. The business has a 50-day simple moving average of $45.53 and a 200-day simple moving average of $44.26. The company has a market cap of $62.60 billion, a PE ratio of 14.16, a P/E/G ratio of 1.69 and a beta of 1.08. Truist Financial Co. has a one year low of $34.23 and a one year high of $49.06. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. The company had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.05 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.81 EPS. On average, equities research analysts forecast that Truist Financial Co. will post 3.98 EPS for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.41%. The ex-dividend date is Friday, February 14th. Truist Financial’s dividend payout ratio (DPR) is 62.46%.

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.