Truist Financial Co. (NYSE:TFC) Shares Sold by Busey Bank

Busey Bank reduced its position in Truist Financial Co. (NYSE:TFC) by 4.6% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 15,641 shares of the insurance provider’s stock after selling 751 shares during the quarter. Busey Bank’s holdings in Truist Financial were worth $679,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of TFC. Foster & Motley Inc. increased its stake in shares of Truist Financial by 45.4% during the fourth quarter. Foster & Motley Inc. now owns 16,051 shares of the insurance provider’s stock worth $696,000 after acquiring an additional 5,014 shares during the period. Ibex Wealth Advisors increased its position in Truist Financial by 842.2% during the 4th quarter. Ibex Wealth Advisors now owns 175,781 shares of the insurance provider’s stock worth $7,625,000 after purchasing an additional 157,125 shares during the period. BSW Wealth Partners raised its stake in shares of Truist Financial by 6.6% during the 4th quarter. BSW Wealth Partners now owns 11,047 shares of the insurance provider’s stock worth $479,000 after buying an additional 682 shares in the last quarter. Patriot Financial Group Insurance Agency LLC lifted its holdings in shares of Truist Financial by 5.0% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 15,824 shares of the insurance provider’s stock valued at $686,000 after buying an additional 750 shares during the period. Finally, Stonegate Investment Group LLC boosted its stake in shares of Truist Financial by 30.7% in the fourth quarter. Stonegate Investment Group LLC now owns 6,277 shares of the insurance provider’s stock valued at $272,000 after buying an additional 1,473 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Up 1.2 %

Shares of NYSE TFC opened at $48.02 on Friday. The firm has a market cap of $63.75 billion, a P/E ratio of 14.42, a price-to-earnings-growth ratio of 1.68 and a beta of 1.08. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. Truist Financial Co. has a 1 year low of $34.23 and a 1 year high of $49.06. The firm’s 50 day moving average price is $45.53 and its 200 day moving average price is $44.02.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.03. The business had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The business’s revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.81 earnings per share. As a group, sell-side analysts anticipate that Truist Financial Co. will post 3.95 earnings per share for the current year.

Truist Financial Announces Dividend

The firm 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. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date of this dividend is Friday, February 14th. Truist Financial’s dividend payout ratio is presently 62.46%.

Wall Street Analyst Weigh In

TFC has been the subject of a number of recent analyst reports. Morgan Stanley raised their target price on Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. UBS Group raised their price objective on shares of Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Compass Point upped their target price on shares of Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Stephens increased their target price on shares of Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Finally, Keefe, Bruyette & Woods boosted their price target on Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 21st. Eleven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $50.79.

Insider Activity at Truist Financial

In other news, CEO William H. Rogers, Jr. purchased 34,180 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was acquired at an average cost of $48.56 per share, with a total value of $1,659,780.80. Following the acquisition, the chief executive officer now owns 691,451 shares in the company, valued at approximately $33,576,860.56. This trade represents a 5.20 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director K. David Jr. Boyer sold 4,966 shares of the business’s stock in a transaction 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 transaction, the director now owns 11,246 shares in the company, valued at $519,565.20. This represents a 30.63 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.17% of the company’s stock.

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.