Tradewinds LLC. Acquires New Position in Truist Financial Corporation $TFC

Tradewinds LLC. bought a new position in shares of Truist Financial Corporation (NYSE:TFC) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 40,129 shares of the insurance provider’s stock, valued at approximately $1,835,000.

A number of other large investors also recently made changes to their positions in TFC. Aspect Partners LLC increased its holdings in Truist Financial by 71.5% in the second quarter. Aspect Partners LLC now owns 643 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 268 shares during the last quarter. Princeton Global Asset Management LLC bought a new stake in shares of Truist Financial in the 2nd quarter valued at about $30,000. Capital A Wealth Management LLC raised its position in shares of Truist Financial by 1,189.5% in the 2nd quarter. Capital A Wealth Management LLC now owns 735 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 678 shares during the period. Darwin Wealth Management LLC boosted its stake in Truist Financial by 631.6% during the 3rd quarter. Darwin Wealth Management LLC now owns 695 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 600 shares during the last quarter. Finally, Ramirez Asset Management Inc. grew its holdings in Truist Financial by 60.0% during the second quarter. Ramirez Asset Management Inc. now owns 800 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 300 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Insider Transactions at Truist Financial

In other Truist Financial news, Director K. David Jr. Boyer sold 5,160 shares of Truist Financial stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $46.45, for a total value of $239,682.00. Following the sale, the director directly owned 10,153 shares in the company, valued at approximately $471,606.85. The trade was a 33.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.17% of the company’s stock.

Truist Financial Stock Down 0.5%

TFC stock opened at $50.01 on Monday. The business has a 50-day moving average of $48.29 and a 200-day moving average of $46.03. Truist Financial Corporation has a fifty-two week low of $33.56 and a fifty-two week high of $51.51. The stock has a market capitalization of $63.98 billion, a P/E ratio of 13.44, a P/E/G ratio of 0.95 and a beta of 0.89. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.86 and a quick ratio of 0.86.

Truist Financial (NYSE:TFC) last released its earnings results on Friday, October 17th. The insurance provider reported $1.04 EPS for the quarter, beating the consensus estimate of $0.99 by $0.05. Truist Financial had a return on equity of 8.73% and a net margin of 16.84%.The firm had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.20 billion. During the same quarter in the previous year, the business posted $0.97 EPS. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial announced that its board has initiated a stock repurchase program on Tuesday, December 16th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the insurance provider to buy up to 15.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Friday, November 14th were given a $0.52 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a $2.08 dividend on an annualized basis and a yield of 4.2%. Truist Financial’s dividend payout ratio (DPR) is 55.91%.

Analyst Upgrades and Downgrades

TFC has been the topic of several analyst reports. Keefe, Bruyette & Woods increased their target price on shares of Truist Financial from $49.00 to $53.00 and gave the stock a “market perform” rating in a report on Wednesday, December 17th. The Goldman Sachs Group reiterated a “buy” rating and set a $58.00 target price on shares of Truist Financial in a report on Tuesday, January 6th. Cowen reissued a “buy” rating on shares of Truist Financial in a research note on Wednesday, January 7th. UBS Group set a $55.00 price target on Truist Financial in a report on Tuesday, October 21st. Finally, Evercore ISI upgraded Truist Financial from a “hold” rating to an “outperform” rating and lifted their price objective for the company from $49.00 to $58.00 in a report on Tuesday, January 6th. Seven analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $52.80.

About Truist Financial

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.