Brookstone Capital Management Increases Stake in Truist Financial Corporation $TFC

Brookstone Capital Management raised its position in Truist Financial Corporation (NYSE:TFC) by 12.3% in the 3rd quarter, Holdings Channel reports. The fund owned 336,095 shares of the insurance provider’s stock after acquiring an additional 36,916 shares during the period. Brookstone Capital Management’s holdings in Truist Financial were worth $15,366,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC boosted its holdings in Truist Financial by 148.5% in the 4th quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider’s stock valued at $1,023,000 after purchasing an additional 14,093 shares in the last quarter. CreativeOne Wealth LLC raised its stake in shares of Truist Financial by 42.2% during the 1st quarter. CreativeOne Wealth LLC now owns 10,564 shares of the insurance provider’s stock worth $435,000 after buying an additional 3,136 shares in the last quarter. B. Metzler seel. Sohn & Co. AG lifted its holdings in shares of Truist Financial by 5.8% in the 1st quarter. B. Metzler seel. Sohn & Co. AG now owns 180,366 shares of the insurance provider’s stock valued at $7,422,000 after buying an additional 9,878 shares during the period. Wealth Preservation Advisors LLC purchased a new stake in shares of Truist Financial in the first quarter valued at approximately $25,000. Finally, Truvestments Capital LLC grew its holdings in Truist Financial by 362.7% during the first quarter. Truvestments Capital LLC now owns 1,388 shares of the insurance provider’s stock worth $57,000 after acquiring an additional 1,088 shares during the period. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Analyst Ratings Changes

TFC has been the subject of a number of recent analyst reports. UBS Group set a $55.00 target price on Truist Financial in a report on Tuesday, October 21st. Robert W. Baird reiterated a “neutral” rating and issued a $52.00 price target on shares of Truist Financial in a report on Thursday, December 11th. Wall Street Zen downgraded shares of Truist Financial from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Evercore ISI increased their target price on shares of Truist Financial from $48.00 to $50.00 and gave the company an “in-line” rating in a report on Tuesday, September 30th. Finally, Piper Sandler set a $48.00 price target on shares of Truist Financial in a research report on Monday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Truist Financial has an average rating of “Hold” and an average price target of $49.93.

Insider Buying and Selling

In other Truist Financial news, Director K. David Jr. Boyer sold 5,160 shares of the firm’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $46.45, for a total transaction of $239,682.00. Following the completion of the transaction, the director owned 10,153 shares of the company’s stock, valued at approximately $471,606.85. This trade represents a 33.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.17% of the company’s stock.

Truist Financial Stock Performance

NYSE:TFC opened at $50.74 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $64.91 billion, a P/E ratio of 13.64, a price-to-earnings-growth ratio of 1.09 and a beta of 0.90. The firm has a 50-day moving average price of $46.13 and a two-hundred day moving average price of $44.92. Truist Financial Corporation has a twelve month low of $33.56 and a twelve month high of $50.86.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Friday, October 17th. The insurance provider reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.05. The company had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.20 billion. Truist Financial had a net margin of 16.84% and a return on equity of 8.73%. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.97 earnings per share. As a group, research analysts expect that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Friday, November 14th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a $2.08 dividend on an annualized basis and a yield of 4.1%. Truist Financial’s dividend payout ratio is presently 55.91%.

Truist Financial announced that its board has approved a share repurchase program on Tuesday, December 16th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the insurance provider to buy up to 15.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Truist Financial Profile

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.