Lido Advisors LLC Buys 4,735 Shares of Truist Financial Co. (NYSE:TFC)
Lido Advisors LLC grew its stake in Truist Financial Co. (NYSE:TFC) by 33.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,945 shares of the insurance provider’s stock after purchasing an additional 4,735 shares during the period. Lido Advisors LLC’s holdings in Truist Financial were worth $908,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Hoover Financial Advisors Inc. bought a new stake in shares of Truist Financial in the 4th quarter valued at approximately $25,000. Peoples Financial Services CORP. grew its position in Truist Financial by 173.4% during the 4th quarter. Peoples Financial Services CORP. now owns 544 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 345 shares during the last quarter. Kinloch Capital LLC bought a new stake in Truist Financial during the 4th quarter worth approximately $26,000. RWM Asset Management LLC bought a new stake in Truist Financial during the 4th quarter worth approximately $30,000. Finally, Clearview Wealth Advisors LLC bought a new stake in Truist Financial during the 4th quarter worth approximately $38,000. Institutional investors own 72.11% of the company’s stock.
TFC has been the topic of a number of research analyst reports. Robert W. Baird restated a “neutral” rating and set a $53.00 price target on shares of Truist Financial in a research report on Thursday, January 7th. Keefe, Bruyette & Woods lowered Truist Financial from an “outperform” rating to a “market perform” rating and increased their price objective for the company from $49.00 to $50.00 in a research report on Thursday, November 19th. Bank of America increased their price objective on Truist Financial from $58.00 to $59.00 and gave the company a “buy” rating in a research report on Friday, January 22nd. Credit Suisse Group increased their price objective on Truist Financial from $52.00 to $53.00 and gave the company a “neutral” rating in a research report on Friday, January 22nd. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Truist Financial from $46.00 to $56.00 in a report on Wednesday, January 6th. Ten research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $48.60.
Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Wednesday, January 20th. The insurance provider reported $1.18 EPS for the quarter, beating the consensus estimate of $0.99 by $0.19. Truist Financial had a net margin of 16.95% and a return on equity of 7.76%. During the same quarter in the prior year, the company earned $1.04 earnings per share. On average, equities research analysts forecast that Truist Financial Co. will post 3.54 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 1st. Shareholders of record on Friday, February 12th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, February 11th. This represents a $1.80 annualized dividend and a yield of 3.05%. Truist Financial’s dividend payout ratio is currently 41.19%.
In other Truist Financial news, COO William H. Rogers, Jr. sold 176,379 shares of the business’s stock in a transaction on Friday, January 22nd. The shares were sold at an average price of $50.22, for a total transaction of $8,857,753.38. Following the sale, the chief operating officer now owns 849,506 shares of the company’s stock, valued at $42,662,191.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Clarke R. Starnes III sold 48,175 shares of the business’s stock in a transaction on Friday, January 22nd. The stock was sold at an average price of $51.06, for a total transaction of $2,459,815.50. Following the completion of the sale, the insider now directly owns 182,205 shares in the company, valued at approximately $9,303,387.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 228,574 shares of company stock worth $11,510,241. Insiders own 0.35% of the company’s stock.
Truist Financial Company Profile
Truist Financial Corporation, a holding company, provides banking and trust services for small and mid-size businesses, public agencies, local governments, corporations, and individuals 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.
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