RMR Wealth Builders Raises Stock Position in Truist Financial Co. (NYSE:TFC)

RMR Wealth Builders increased its holdings in shares of Truist Financial Co. (NYSE:TFC) by 1.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,165 shares of the insurance provider’s stock after purchasing an additional 324 shares during the period. RMR Wealth Builders’ holdings in Truist Financial were worth $831,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in TFC. Bangor Savings Bank lifted its position in 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 position in shares of Truist Financial during the third quarter worth $26,000. Y.D. More Investments Ltd purchased a new position in shares of Truist Financial in the second quarter valued at $31,000. MidAtlantic Capital Management Inc. purchased a new stake in Truist Financial during the 3rd quarter worth $32,000. Finally, Fortitude Family Office LLC boosted its position in Truist Financial by 376.7% in the 3rd 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 during the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Stock Down 2.5 %

NYSE TFC traded down $1.12 on Friday, reaching $42.83. The stock had a trading volume of 8,002,123 shares, compared to its average volume of 6,204,802. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $56.86 billion, a price-to-earnings ratio of -29.95, a P/E/G ratio of 1.88 and a beta of 1.08. Truist Financial Co. has a 1 year low of $34.23 and a 1 year high of $49.06. The business has a 50 day moving average price of $45.36 and a 200 day moving average price of $43.26.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Thursday, October 17th. The insurance provider reported $0.97 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $5.05 billion. On average, analysts forecast that Truist Financial Co. will post 3.7 EPS for the current fiscal year.

Truist Financial Announces Dividend

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

Analysts Set New Price Targets

TFC has been the subject of a number of analyst reports. Wells Fargo & Company increased their price target on Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Barclays upped their price objective on Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday. JPMorgan Chase & Co. increased their target price 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. UBS Group increased their target price on Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Finally, Royal Bank of Canada lifted their price target on Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $49.89.

Insiders Place Their Bets

In other Truist Financial 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 value of $229,429.20. Following the completion of the transaction, the director now directly owns 11,246 shares in the company, valued at $519,565.20. This trade represents a 30.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William H. Rogers, Jr. bought 34,180 shares of Truist Financial stock in a transaction that occurred on Monday, November 25th. The shares were bought 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 directly owns 691,451 shares in the company, valued at $33,576,860.56. This trade represents a 5.20 % increase in their position. The disclosure for this purchase 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.