Proficio Capital Partners LLC Makes New Investment in Truist Financial Co. (NYSE:TFC)

Proficio Capital Partners LLC purchased a new position in shares of Truist Financial Co. (NYSE:TFC) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 125,672 shares of the insurance provider’s stock, valued at approximately $5,452,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Oppenheimer & Co. Inc. raised its stake in Truist Financial by 1.6% during the fourth quarter. Oppenheimer & Co. Inc. now owns 135,290 shares of the insurance provider’s stock worth $5,869,000 after purchasing an additional 2,184 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co increased its holdings in shares of Truist Financial by 12.3% during the 4th quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 9,744 shares of the insurance provider’s stock worth $423,000 after buying an additional 1,069 shares during the last quarter. Mn Services Vermogensbeheer B.V. increased its holdings in shares of Truist Financial by 2.0% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 524,300 shares of the insurance provider’s stock worth $22,744,000 after buying an additional 10,200 shares during the last quarter. Nwam LLC lifted its holdings in Truist Financial by 3.2% in the fourth quarter. Nwam LLC now owns 8,395 shares of the insurance provider’s stock valued at $364,000 after acquiring an additional 263 shares during the last quarter. Finally, Heritage Investors Management Corp grew its position in Truist Financial by 7.3% in the fourth quarter. Heritage Investors Management Corp now owns 11,775 shares of the insurance provider’s stock worth $511,000 after acquiring an additional 800 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Down 2.0 %

Shares of NYSE:TFC opened at $45.41 on Tuesday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. Truist Financial Co. has a fifty-two week low of $34.51 and a fifty-two week high of $49.06. The stock has a market cap of $59.28 billion, a price-to-earnings ratio of 13.64, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. The firm’s 50 day moving average price is $45.81 and its 200 day moving average price is $44.68.

Truist Financial (NYSE:TFC) last released 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 during the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.81 EPS. As a group, equities research analysts predict that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a $0.52 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.58%. Truist Financial’s payout ratio is currently 62.46%.

Insider Transactions at Truist Financial

In other news, Director K. David Jr. Boyer sold 4,966 shares of the company’s stock in a transaction on 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 transaction, the director now owns 11,246 shares in the company, valued at approximately $519,565.20. This represents a 30.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

TFC has been the topic of several recent analyst reports. Hsbc Global Res raised Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Morgan Stanley upped their target price on shares of Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. Citigroup lifted their price target on shares of Truist Financial from $47.00 to $51.00 and gave the company a “neutral” rating in a research report on Monday, November 25th. StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, January 17th. Finally, Stephens lifted 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. Eleven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $50.79.

Truist Financial 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.