Parkside Financial Bank & Trust Grows Holdings in Truist Financial Co. (NYSE:TFC)

Parkside Financial Bank & Trust grew its holdings in Truist Financial Co. (NYSE:TFC) by 27.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,863 shares of the insurance provider’s stock after purchasing an additional 1,690 shares during the period. Parkside Financial Bank & Trust’s holdings in Truist Financial were worth $290,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in TFC. OFI Invest Asset Management purchased a new position in shares of Truist Financial during the third quarter valued at $26,000. Operose Advisors LLC purchased a new position in shares of Truist Financial during the third quarter valued at $31,000. Tyler Stone Wealth Management bought a new stake in Truist Financial during the third quarter valued at about $33,000. Morton Brown Family Wealth LLC boosted its position in Truist Financial by 236.0% during the fourth quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 649 shares in the last quarter. Finally, Authentikos Wealth Advisory LLC bought a new stake in Truist Financial during the third quarter valued at about $36,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Performance

NYSE:TFC traded up $0.02 during trading hours on Wednesday, reaching $38.86. The company had a trading volume of 2,257,061 shares, compared to its average volume of 9,631,731. Truist Financial Co. has a 1-year low of $25.56 and a 1-year high of $39.29. The firm has a market cap of $51.86 billion, a PE ratio of -29.43, a price-to-earnings-growth ratio of 2.39 and a beta of 1.08. The business’s 50 day moving average price is $36.76 and its 200-day moving average price is $34.70. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.82 and a quick ratio of 0.82.

Truist Financial (NYSE:TFC) last announced 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 positive return on equity of 9.15% and a negative net margin of 4.28%. The company had revenue of $4.87 billion during the quarter, compared to the consensus estimate of $5.70 billion. During the same period in the previous year, the company posted $1.09 earnings per share. Truist Financial’s revenue for the quarter was down 8.8% on a year-over-year basis. Research analysts forecast that Truist Financial Co. will post 3.27 EPS for the current year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 10th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 5.35%. Truist Financial’s payout ratio is -157.58%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Bank of America raised Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 price objective on the stock in a research report on Thursday, January 4th. HSBC raised their price objective on Truist Financial from $37.00 to $39.00 and gave the company a “hold” rating in a research report on Thursday, March 28th. StockNews.com downgraded Truist Financial from a “hold” rating to a “sell” rating in a research report on Thursday, March 28th. Keefe, Bruyette & Woods raised their price target on Truist Financial from $44.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, April 5th. Finally, Raymond James raised their price target on Truist Financial from $34.00 to $41.00 and gave the stock an “outperform” rating in a report on Friday, January 5th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $41.59.

Insider Transactions at Truist Financial

In other news, Director K. David Jr. Boyer sold 3,764 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $37.48, for a total transaction of $141,074.72. Following the completion of the transaction, the director now directly owns 16,132 shares of the company’s stock, valued at approximately $604,627.36. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.17% of the company’s stock.

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.