Godsey & Gibb Inc. Acquires 12,350 Shares of Truist Financial Co. (NYSE:TFC)

Godsey & Gibb Inc. increased its holdings in Truist Financial Co. (NYSE:TFC) by 2.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 464,446 shares of the insurance provider’s stock after buying an additional 12,350 shares during the period. Godsey & Gibb Inc.’s holdings in Truist Financial were worth $19,864,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Crewe Advisors LLC bought a new position in shares of Truist Financial in the first quarter valued at approximately $27,000. Opal Wealth Advisors LLC bought a new position in Truist Financial during the first quarter valued at $29,000. MFA Wealth Advisors LLC bought a new position in Truist Financial during the second quarter valued at $30,000. Y.D. More Investments Ltd bought a new position in Truist Financial during the second quarter valued at $31,000. Finally, Hobbs Group Advisors LLC bought a new position in Truist Financial during the second quarter valued at $38,000. 71.28% of the stock is owned by institutional investors.

Truist Financial Trading Up 1.7 %

NYSE TFC opened at $43.67 on Monday. The stock’s 50-day simple moving average is $42.67 and its two-hundred day simple moving average is $40.32. Truist Financial Co. has a twelve month low of $26.95 and a twelve month high of $45.31. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $58.43 billion, a price-to-earnings ratio of -33.08, a PEG ratio of 1.82 and a beta of 1.05.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Monday, July 22nd. The insurance provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.07. Truist Financial had a positive return on equity of 9.18% and a negative net margin of 5.63%. The business had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $4.83 billion. During the same quarter last year, the business posted $0.95 earnings per share. The company’s revenue for the quarter was down 15.9% on a year-over-year basis. Research analysts forecast that Truist Financial Co. will post 3.55 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.76%. Truist Financial’s dividend payout ratio (DPR) is currently -157.58%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on TFC shares. UBS Group raised their price target on Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a report on Friday. JPMorgan Chase & Co. raised their price target on Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Compass Point raised their price target on Truist Financial from $46.00 to $47.00 in a report on Wednesday, October 16th. Keefe, Bruyette & Woods raised their price target on Truist Financial from $48.00 to $49.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Finally, The Goldman Sachs Group cut their price target on Truist Financial from $50.00 to $48.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. Twelve investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Truist Financial presently has a consensus rating of “Hold” and a consensus target price of $46.02.

Insider Activity

In related news, CEO William H. Rogers, Jr. acquired 57,300 shares of Truist Financial stock in a transaction dated Tuesday, July 23rd. The shares were purchased at an average cost of $43.96 per share, with a total value of $2,518,908.00. Following the completion of the purchase, the chief executive officer now owns 569,271 shares of the company’s stock, valued at $25,025,153.16. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP Cynthia B. Powell sold 6,688 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $44.14, for a total value of $295,208.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO William H. Rogers, Jr. bought 57,300 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was acquired at an average cost of $43.96 per share, for a total transaction of $2,518,908.00. Following the completion of the purchase, the chief executive officer now directly owns 569,271 shares of the company’s stock, valued at $25,025,153.16. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.17% of the company’s stock.

Truist Financial Company 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.