Capital Investment Advisors LLC Buys 14,178 Shares of Truist Financial Corporation $TFC

Capital Investment Advisors LLC increased its position in shares of Truist Financial Corporation (NYSE:TFC) by 35.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 53,773 shares of the insurance provider’s stock after purchasing an additional 14,178 shares during the quarter. Capital Investment Advisors LLC’s holdings in Truist Financial were worth $2,646,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TFC. Brighton Jones LLC lifted its holdings in Truist Financial by 148.5% during 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 during the last quarter. Woodline Partners LP increased its stake in shares of Truist Financial by 39.5% in the 1st quarter. Woodline Partners LP now owns 111,177 shares of the insurance provider’s stock valued at $4,575,000 after buying an additional 31,454 shares during the period. Sivia Capital Partners LLC acquired a new position in Truist Financial during the 2nd quarter valued at about $575,000. CreativeOne Wealth LLC boosted its stake in Truist Financial by 8.7% in the second quarter. CreativeOne Wealth LLC now owns 11,486 shares of the insurance provider’s stock valued at $494,000 after acquiring an additional 922 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of Truist Financial by 14.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 493,374 shares of the insurance provider’s stock worth $21,189,000 after purchasing an additional 61,097 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Insider Buying and Selling

In other news, CFO Michael Baron Maguire sold 13,000 shares of the stock in a transaction on Monday, January 26th. The shares were sold at an average price of $50.13, for a total transaction of $651,690.00. Following the completion of the sale, the chief financial officer directly owned 74,323 shares in the company, valued at $3,725,811.99. This represents a 14.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Cynthia B. Powell sold 3,500 shares of Truist Financial stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $52.49, for a total value of $183,715.00. Following the completion of the sale, the chief accounting officer owned 667 shares of the company’s stock, valued at approximately $35,010.83. The trade was a 83.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.15% of the company’s stock.

Truist Financial Stock Performance

NYSE TFC opened at $44.54 on Friday. Truist Financial Corporation has a 1 year low of $33.56 and a 1 year high of $56.19. The firm’s 50 day simple moving average is $49.44 and its 200 day simple moving average is $47.57. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $55.27 billion, a price-to-earnings ratio of 11.69, a P/E/G ratio of 0.75 and a beta of 0.87.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Wednesday, January 21st. The insurance provider reported $1.00 EPS for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.09). The business had revenue of $4.93 billion for the quarter, compared to analyst estimates of $5.32 billion. Truist Financial had a return on equity of 9.03% and a net margin of 17.09%.Truist Financial’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period last year, the firm posted $0.91 EPS. As a group, research analysts expect that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial declared that its board has authorized a share buyback plan on Tuesday, December 16th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the insurance provider to reacquire up to 15.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Friday, February 13th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date was Friday, February 13th. Truist Financial’s payout ratio is 54.59%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on TFC shares. Weiss Ratings lowered shares of Truist Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, March 12th. TD Cowen lifted their target price on Truist Financial from $59.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Morgan Stanley upgraded Truist Financial from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $56.00 to $69.00 in a report on Tuesday, February 17th. Jefferies Financial Group started coverage on shares of Truist Financial in a research report on Thursday. They issued an “underperform” rating and a $35.00 price objective on the stock. Finally, Evercore restated an “outperform” rating on shares of Truist Financial in a research note on Thursday, February 5th. Nine equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $55.13.

About Truist Financial

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.