Truist Financial Corporation $TFC Shares Newly Purchased by NBT Bank N.A.

NBT Bank N.A. acquired a new stake in Truist Financial Corporation (NYSE:TFC) in the third quarter, Holdings Channel.com reports. The firm acquired 13,496 shares of the insurance provider’s stock, valued at approximately $625,000.

Other hedge funds also recently bought and sold shares of the company. PCB Capital LLC increased its holdings in Truist Financial by 3.0% during the 1st quarter. PCB Capital LLC now owns 6,744 shares of the insurance provider’s stock worth $310,000 after acquiring an additional 198 shares during the period. First Dallas Securities Inc. lifted its stake in Truist Financial by 1.5% in the 1st quarter. First Dallas Securities Inc. now owns 14,659 shares of the insurance provider’s stock worth $674,000 after purchasing an additional 211 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its stake in Truist Financial by 4.0% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,456 shares of the insurance provider’s stock worth $272,000 after purchasing an additional 211 shares in the last quarter. Csenge Advisory Group lifted its stake in Truist Financial by 0.3% in the 2nd quarter. Csenge Advisory Group now owns 69,426 shares of the insurance provider’s stock worth $3,459,000 after purchasing an additional 227 shares in the last quarter. Finally, Apella Capital LLC boosted its holdings in Truist Financial by 0.5% in the 2nd quarter. Apella Capital LLC now owns 43,030 shares of the insurance provider’s stock valued at $2,210,000 after purchasing an additional 232 shares during the period. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Insider Transactions at Truist Financial

In related news, insider Dontá Wilson sold 13,280 shares of the firm’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $51.85, for a total transaction of $688,568.00. Following the transaction, the insider directly owned 56,009 shares of the company’s stock, valued at approximately $2,904,066.65. This trade represents a 19.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Michael P. Lyons acquired 21,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 17th. The shares were purchased at an average cost of $48.36 per share, for a total transaction of $1,015,560.00. Following the completion of the acquisition, the chief executive officer owned 21,000 shares in the company, valued at $1,015,560. This represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.15% of the stock is currently owned by corporate insiders.

Truist Financial Stock Performance

NYSE TFC opened at $48.50 on Friday. Truist Financial Corporation has a 52-week low of $43.13 and a 52-week high of $56.19. The company has a fifty day moving average of $48.68 and a 200-day moving average of $49.66. The company has a market capitalization of $59.24 billion, a P/E ratio of 12.50, a P/E/G ratio of 1.08 and a beta of 0.92. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.88 and a current ratio of 0.88.

Truist Financial (NYSE:TFC) last released its earnings results on Friday, October 16th. The insurance provider reported $1.16 EPS for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.01). Truist Financial had a net margin of 18.01% and a return on equity of 10.37%. The firm had revenue of $5.30 billion during the quarter, compared to the consensus estimate of $5.35 billion. During the same period in the prior year, the company earned $1.04 EPS. The firm’s revenue was up 1.3% compared to the same quarter last year. As a group, equities research analysts predict that Truist Financial Corporation will post 4.66 EPS for the current fiscal year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date was Friday, August 14th. Truist Financial’s dividend payout ratio is presently 53.61%.

Analyst Ratings Changes

A number of research analysts have recently commented on TFC shares. Wells Fargo & Company set a $52.00 price target on shares of Truist Financial in a research report on Thursday, October 8th. Wall Street Zen raised shares of Truist Financial from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Robert W. Baird increased their price objective on Truist Financial from $55.00 to $56.00 and gave the stock a “neutral” rating in a research report on Monday, July 20th. Citigroup dropped their price objective on Truist Financial from $54.00 to $50.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, JPMorgan Chase & Co. dropped their price objective on Truist Financial from $54.00 to $50.50 and set an “underweight” rating for the company in a research note on Friday, October 2nd. Seven investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $53.87.

About Truist Financial

Truist Financial Corporation is a financial services company headquartered in Charlotte, North Carolina, operating through its principal subsidiary, Truist Bank. The company provides banking, lending, investment, insurance and wealth management services to consumers, small businesses, commercial clients and institutional customers.

Its offerings include checking and savings accounts, mortgages, consumer loans, credit cards, commercial and industrial lending, treasury and payment services, investment banking, brokerage, asset management and insurance products.