Boltwood Capital Management Decreases Stake in Truist Financial Co. (NYSE:TFC)

Boltwood Capital Management cut its holdings in shares of Truist Financial Co. (NYSE:TFCFree Report) by 4.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,935 shares of the insurance provider’s stock after selling 450 shares during the period. Boltwood Capital Management’s holdings in Truist Financial were worth $431,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Valley Wealth Managers Inc. bought a new stake in Truist Financial in the 3rd quarter worth approximately $26,000. Y.D. More Investments Ltd bought a new stake in shares of Truist Financial in the second quarter worth $31,000. MidAtlantic Capital Management Inc. bought a new position in Truist Financial in the third quarter valued at about $32,000. Fortitude Family Office LLC boosted its position in Truist Financial by 376.7% in the third quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 678 shares during the last quarter. Finally, Ashton Thomas Securities LLC bought a new stake in shares of Truist Financial during the 3rd quarter valued at about $45,000. 71.28% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TFC has been the topic of a number of research reports. Piper Sandler raised their price objective on shares of Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Wells Fargo & Company boosted their price objective on shares of Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Stephens reaffirmed an “overweight” rating and issued a $54.00 target price on shares of Truist Financial in a report on Thursday. Citigroup raised their price objective on Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a research note on Monday, November 25th. Finally, Compass Point increased their price objective on shares of Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Twelve research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Truist Financial presently has a consensus rating of “Hold” and an average price target of $49.17.

Get Our Latest Report on TFC

Insider Activity

In related news, Director K. David Jr. Boyer sold 4,966 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total transaction of $229,429.20. Following the completion of the sale, the director now directly owns 11,246 shares of the company’s stock, valued at approximately $519,565.20. This trade represents a 30.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William H. Rogers, Jr. acquired 34,180 shares of the business’s stock in a transaction on Monday, November 25th. The stock was acquired at an average cost of $48.56 per share, for a total transaction of $1,659,780.80. Following the transaction, the chief executive officer now directly owns 691,451 shares in the company, valued at $33,576,860.56. The trade was a 5.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.17% of the company’s stock.

Truist Financial Price Performance

Shares of TFC stock traded up $0.50 on Monday, reaching $44.60. The company’s stock had a trading volume of 1,363,588 shares, compared to its average volume of 3,803,684. The company has a market capitalization of $59.21 billion, a price-to-earnings ratio of -31.19, a price-to-earnings-growth ratio of 1.88 and a beta of 1.08. The stock’s fifty day simple moving average is $45.30 and its 200-day simple moving average is $43.14. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.62. Truist Financial Co. has a 1 year low of $34.23 and a 1 year high of $49.06.

Truist Financial (NYSE:TFCGet Free Report) last posted its earnings results on Thursday, October 17th. The insurance provider reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.08. The firm had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $5.05 billion. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. Analysts forecast that Truist Financial Co. will post 3.7 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 8th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.66%. The ex-dividend date of this dividend was Friday, November 8th. Truist Financial’s dividend payout ratio (DPR) is -145.45%.

About Truist Financial

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Truist Financial (NYSE:TFC)

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