Keel Point LLC Acquires 1,201 Shares of Truist Financial Co. (NYSE:TFC)

Keel Point LLC grew its holdings in shares of Truist Financial Co. (NYSE:TFC) by 11.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 11,913 shares of the insurance provider’s stock after acquiring an additional 1,201 shares during the period. Keel Point LLC’s holdings in Truist Financial were worth $440,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of TFC. Fairfield Bush & CO. bought a new stake in shares of Truist Financial in the 1st quarter valued at about $25,000. Morton Brown Family Wealth LLC boosted its holdings in Truist Financial by 236.0% in the fourth quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 649 shares during the last quarter. Quarry LP acquired a new stake in Truist Financial during the 1st quarter valued at approximately $32,000. OFI Invest Asset Management bought a new position in Truist Financial during the 3rd quarter worth approximately $26,000. Finally, Operose Advisors LLC acquired a new position in shares of Truist Financial in the 3rd quarter worth approximately $31,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Down 0.5 %

Truist Financial stock opened at $36.51 on Tuesday. The firm has a market capitalization of $48.73 billion, a price-to-earnings ratio of -33.99, a price-to-earnings-growth ratio of 2.27 and a beta of 1.08. The firm’s fifty day moving average price is $36.64 and its two-hundred day moving average price is $34.31. Truist Financial Co. has a 1-year low of $25.56 and a 1-year high of $39.29. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.74.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Thursday, January 18th. The insurance provider reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.13. The business had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.70 billion. Truist Financial had a negative net margin of 3.28% and a positive return on equity of 9.64%. During the same quarter last year, the firm earned $1.30 EPS. On average, equities research analysts predict that Truist Financial Co. will post 3.33 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $2.08 annualized dividend and a yield of 5.70%. Truist Financial’s dividend payout ratio (DPR) is currently -192.59%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TFC. Keefe, Bruyette & Woods increased their price objective on shares of Truist Financial from $44.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, April 5th. Wells Fargo & Company lifted their price objective on Truist Financial from $39.00 to $45.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Bank of America upgraded Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 target price on the stock in a research report on Thursday, January 4th. StockNews.com downgraded Truist Financial from a “hold” rating to a “sell” rating in a report on Thursday, March 28th. Finally, Piper Sandler increased their price target on Truist Financial from $37.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday, January 19th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $41.47.

Insider Activity at Truist Financial

In related news, Director K. David Jr. Boyer sold 3,764 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $37.48, for a total transaction of $141,074.72. Following the transaction, the director now directly owns 16,132 shares of the company’s stock, valued at $604,627.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.17% of the stock is currently owned by insiders.

Truist Financial Company 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.