Montag A & Associates Inc. Decreases Holdings in Truist Financial Co. (NYSE:TFC)

Montag A & Associates Inc. lowered its position in Truist Financial Co. (NYSE:TFC) by 1.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 152,113 shares of the insurance provider’s stock after selling 2,725 shares during the quarter. Montag A & Associates Inc.’s holdings in Truist Financial were worth $6,599,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Bangor Savings Bank grew its holdings 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 valued at $25,000 after purchasing an additional 272 shares during the last quarter. Valley Wealth Managers Inc. purchased a new stake in Truist Financial during the third quarter valued at about $26,000. MidAtlantic Capital Management Inc. purchased a new position in shares of Truist Financial in the third quarter worth about $32,000. Fortitude Family Office LLC increased its holdings in shares of 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 buying an additional 678 shares during the period. Finally, Ashton Thomas Securities LLC bought a new stake in shares of Truist Financial in the 3rd quarter valued at about $45,000. 71.28% of the stock is currently owned by institutional investors.

Insider Activity

In other Truist Financial news, Director K. David Jr. Boyer sold 4,966 shares of Truist Financial stock in a transaction on Wednesday, December 4th. The stock was 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William H. Rogers, Jr. purchased 34,180 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was acquired at an average price of $48.56 per share, with a total value of $1,659,780.80. Following the purchase, the chief executive officer now directly owns 691,451 shares of the company’s stock, valued at approximately $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 Trading Up 0.7 %

Shares of NYSE TFC opened at $46.80 on Friday. Truist Financial Co. has a 1 year low of $34.26 and a 1 year high of $49.06. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. The firm has a 50-day moving average of $45.53 and a 200 day moving average of $44.35. The stock has a market cap of $62.13 billion, a P/E ratio of 14.06, a price-to-earnings-growth ratio of 1.69 and a beta of 1.08.

Truist Financial (NYSE:TFC) last released its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.03. The firm had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The business’s revenue was up 3.4% on a year-over-year basis. During the same period last year, the business earned $0.81 earnings per share. As a group, sell-side analysts expect that Truist Financial Co. will post 3.98 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be paid a $0.52 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.44%. Truist Financial’s dividend payout ratio is currently 62.46%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on TFC shares. The Goldman Sachs Group lifted their price target on Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Keefe, Bruyette & Woods upped their price target on shares of Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Tuesday, January 21st. Wells Fargo & Company raised their price target on shares of Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. Finally, HSBC raised Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research note on Tuesday, January 7th. Eleven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $50.79.

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.