Truist Financial Co. (NYSE:TFC) Shares Bought by Brighton Jones LLC

Brighton Jones LLC increased its position in Truist Financial Co. (NYSE:TFC) by 9.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 27,722 shares of the insurance provider’s stock after buying an additional 2,501 shares during the quarter. Brighton Jones LLC’s holdings in Truist Financial were worth $1,024,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. OFI Invest Asset Management bought a new position in Truist Financial during the 3rd quarter valued at $26,000. Operose Advisors LLC acquired a new stake in shares of Truist Financial in the 3rd quarter valued at about $31,000. Tyler Stone Wealth Management bought a new position in shares of Truist Financial during the third quarter worth about $33,000. Morton Brown Family Wealth LLC grew its stake in Truist Financial by 236.0% in the fourth quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 649 shares in the last quarter. Finally, Authentikos Wealth Advisory LLC acquired a new stake in Truist Financial during the third quarter valued at approximately $36,000. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Price Performance

Shares of NYSE:TFC opened at $38.05 on Thursday. 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 $50.78 billion, a PE ratio of -28.83, a price-to-earnings-growth ratio of 1.97 and a beta of 1.07. The stock has a fifty day moving average of $37.03 and a 200-day moving average of $35.05. Truist Financial Co. has a one year low of $25.56 and a one year high of $39.29.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.12. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The business had revenue of $4.87 billion for the quarter, compared to analyst estimates of $5.70 billion. During the same quarter in the previous year, the business earned $1.09 earnings per share. The firm’s revenue was down 8.8% compared to the same quarter last year. As a group, equities analysts anticipate that Truist Financial Co. will post 3.28 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 10th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.47%. The ex-dividend date is Thursday, May 9th. Truist Financial’s dividend payout ratio is currently -157.58%.

Insider Activity at Truist Financial

In other Truist Financial 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 transaction of $141,074.72. Following the sale, the director now owns 16,132 shares in the company, valued at $604,627.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.17% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

TFC has been the subject of a number of research analyst reports. Piper Sandler boosted their price target on Truist Financial from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, January 19th. HSBC increased their target price 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. TheStreet downgraded shares of Truist Financial from a “b-” rating to a “c” rating in a research report on Tuesday, February 20th. Royal Bank of Canada raised their target price on shares of Truist Financial from $40.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. Finally, Citigroup increased their price target on Truist Financial from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.88.

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.