Graypoint LLC Has $293,000 Stock Holdings in Truist Financial Co. (NYSE:TFC)

Graypoint LLC increased its position in shares of Truist Financial Co. (NYSE:TFC) by 8.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,745 shares of the insurance provider’s stock after acquiring an additional 550 shares during the period. Graypoint LLC’s holdings in Truist Financial were worth $293,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Bangor Savings Bank boosted its position in shares of Truist Financial by 92.5% during the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock worth $25,000 after acquiring an additional 272 shares in the last quarter. Valley Wealth Managers Inc. acquired a new stake in Truist Financial in the third quarter valued at approximately $26,000. MidAtlantic Capital Management Inc. acquired a new stake in Truist Financial in the third quarter valued at approximately $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 valued at $37,000 after buying an additional 678 shares in the last quarter. Finally, Ashton Thomas Securities LLC acquired a new stake in Truist Financial in the third quarter valued at approximately $45,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Insider Buying and Selling

In other Truist Financial news, Director K. David Jr. Boyer sold 4,966 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total value 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 represents a 30.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO William H. Rogers, Jr. acquired 34,180 shares of Truist Financial stock in a transaction on Monday, November 25th. The stock was purchased at an average cost of $48.56 per share, with a total value of $1,659,780.80. Following the completion of the transaction, the chief executive officer now directly owns 691,451 shares in the company, valued at $33,576,860.56. This represents a 5.20 % increase in their position. The disclosure for this purchase can be found here. 0.17% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on TFC. HSBC upgraded shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research report on Tuesday, January 7th. Piper Sandler raised their target price on shares of Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Barclays lifted their price target on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Stephens reiterated an “overweight” rating and set a $54.00 price target on shares of Truist Financial in a report on Thursday, January 2nd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Truist Financial currently has a consensus rating of “Moderate Buy” and an average price target of $49.89.

Truist Financial Trading Down 2.5 %

TFC opened at $42.83 on Monday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.85 and a quick ratio of 0.85. Truist Financial Co. has a fifty-two week low of $34.23 and a fifty-two week high of $49.06. The firm has a market capitalization of $56.86 billion, a PE ratio of -29.95, a P/E/G ratio of 1.88 and a beta of 1.08. The company’s 50-day moving average is $45.36 and its 200 day moving average is $43.38.

Truist Financial (NYSE:TFC) 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. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. The company had revenue of $5.09 billion for the quarter, compared to analyst estimates of $5.05 billion. As a group, research analysts predict that Truist Financial Co. will post 3.7 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 8th were issued a $0.52 dividend. The ex-dividend date was Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.86%. Truist Financial’s dividend payout ratio is presently -145.45%.

About Truist Financial

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.