Harbour Investments Inc. Buys 1,305 Shares of Truist Financial Corporation (NYSE:TFC)

Harbour Investments Inc. raised its stake in Truist Financial Corporation (NYSE:TFC) by 33.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,265 shares of the insurance provider’s stock after acquiring an additional 1,305 shares during the quarter. Harbour Investments Inc.’s holdings in Truist Financial were worth $217,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of TFC. Navigoe LLC acquired a new position in shares of Truist Financial in the fourth quarter valued at approximately $26,000. Centennial Bank AR grew its holdings in Truist Financial by 360.2% in the 1st quarter. Centennial Bank AR now owns 741 shares of the insurance provider’s stock valued at $30,000 after buying an additional 580 shares in the last quarter. Motco grew its holdings in Truist Financial by 435.6% in the 1st quarter. Motco now owns 798 shares of the insurance provider’s stock valued at $33,000 after buying an additional 649 shares in the last quarter. Meeder Asset Management Inc. increased its position in Truist Financial by 115.3% during the 1st quarter. Meeder Asset Management Inc. now owns 874 shares of the insurance provider’s stock worth $36,000 after buying an additional 468 shares during the period. Finally, Sierra Ocean LLC lifted its holdings in shares of Truist Financial by 64.4% during the first quarter. Sierra Ocean LLC now owns 899 shares of the insurance provider’s stock worth $37,000 after buying an additional 352 shares in the last quarter. 71.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Citigroup upgraded shares of Truist Financial from a “neutral” rating to a “buy” rating and upped their price target for the company from $44.00 to $55.00 in a research note on Thursday, June 26th. Stephens decreased their target price on shares of Truist Financial from $48.00 to $46.00 and set an “overweight” rating on the stock in a research report on Monday, April 21st. Keefe, Bruyette & Woods downgraded shares of Truist Financial from an “outperform” rating to a “market perform” rating and set a $48.00 price target for the company. in a research report on Wednesday, July 9th. Barclays cut their price target on Truist Financial from $51.00 to $47.00 and set an “equal weight” rating for the company in a research note on Monday, April 21st. Finally, Raymond James Financial upgraded Truist Financial from a “market perform” rating to an “outperform” rating and set a $50.00 price objective on the stock in a research note on Tuesday, July 8th. Seven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $48.65.

Truist Financial Stock Down 0.9%

Shares of NYSE TFC opened at $43.02 on Thursday. The company has a market cap of $55.47 billion, a price-to-earnings ratio of 11.72, a PEG ratio of 1.62 and a beta of 0.87. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.75. Truist Financial Corporation has a 12 month low of $33.56 and a 12 month high of $49.06. The stock has a 50-day moving average price of $42.72 and a two-hundred day moving average price of $42.08.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Friday, July 18th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.02). The company had revenue of $5.04 billion for the quarter, compared to the consensus estimate of $5.04 billion. Truist Financial had a net margin of 16.82% and a return on equity of 8.69%. The company’s revenue for the quarter was down 406.0% compared to the same quarter last year. During the same period last year, the firm posted $0.91 earnings per share. As a group, analysts forecast that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, August 8th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date is Friday, August 8th. Truist Financial’s dividend payout ratio is presently 56.68%.

Insider Activity at Truist Financial

In related news, insider Bradley D. Bender sold 12,540 shares of the business’s stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $45.19, for a total transaction of $566,682.60. Following the sale, the insider owned 500 shares in the company, valued at $22,595. The trade was a 96.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.17% of the company’s stock.

Truist Financial Company 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.