Nkcfo LLC Acquires Shares of 38,700 Truist Financial Corporation $TFC

Nkcfo LLC acquired a new stake in Truist Financial Corporation (NYSE:TFC) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 38,700 shares of the insurance provider’s stock, valued at approximately $1,769,000.

Several other large investors have also recently modified their holdings of TFC. Aspect Partners LLC lifted its position in Truist Financial by 71.5% in the second quarter. Aspect Partners LLC now owns 643 shares of the insurance provider’s stock worth $28,000 after buying an additional 268 shares during the last quarter. Valley Wealth Managers Inc. purchased a new stake in shares of Truist Financial in the third quarter valued at $28,000. Capital A Wealth Management LLC lifted its holdings in shares of Truist Financial by 1,189.5% in the 2nd quarter. Capital A Wealth Management LLC now owns 735 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 678 shares during the last quarter. Darwin Wealth Management LLC boosted its stake in shares of Truist Financial by 631.6% during the 3rd quarter. Darwin Wealth Management LLC now owns 695 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 600 shares during the period. Finally, Twin Peaks Wealth Advisors LLC purchased a new position in shares of Truist Financial during the 2nd quarter worth about $36,000. Institutional investors own 71.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Morgan Stanley raised shares of Truist Financial from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $56.00 to $69.00 in a research report on Tuesday, February 17th. Keefe, Bruyette & Woods increased their price target on Truist Financial from $49.00 to $53.00 and gave the stock a “market perform” rating in a report on Wednesday, December 17th. JPMorgan Chase & Co. boosted their price objective on Truist Financial from $51.50 to $57.00 and gave the company a “neutral” rating in a report on Monday, February 9th. TD Cowen upped their price objective on Truist Financial from $59.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Finally, Raymond James Financial lifted their target price on Truist Financial from $50.00 to $56.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 7th. Eight research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $56.47.

Truist Financial Stock Down 4.3%

Shares of NYSE:TFC opened at $50.10 on Tuesday. The business’s 50 day moving average is $51.19 and its 200 day moving average is $47.39. The stock has a market cap of $64.09 billion, a P/E ratio of 13.15, a price-to-earnings-growth ratio of 0.89 and a beta of 0.89. Truist Financial Corporation has a 52-week low of $33.56 and a 52-week high of $56.19. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.70.

Truist Financial (NYSE:TFC) last issued its earnings results on Wednesday, January 21st. The insurance provider reported $1.00 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.09). Truist Financial had a return on equity of 9.03% and a net margin of 17.09%.The firm had revenue of $5.25 billion during the quarter, compared to analysts’ expectations of $5.32 billion. During the same quarter in the prior year, the company posted $0.91 earnings per share. Truist Financial’s quarterly revenue was up 3.6% compared to the same quarter last year. Sell-side analysts predict that Truist Financial Corporation will post 4 EPS for the current year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Friday, February 13th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.2%. The ex-dividend date is Friday, February 13th. Truist Financial’s dividend payout ratio is presently 54.59%.

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

Insider Transactions at Truist Financial

In other news, CAO Cynthia B. Powell sold 3,500 shares of the business’s stock in a transaction dated Monday, February 2nd. The shares were 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 in the company, valued at approximately $35,010.83. The trade was a 83.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Michael Baron Maguire sold 13,000 shares of the company’s stock in a transaction that occurred on Monday, January 26th. The stock was 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 of the company’s stock, valued at $3,725,811.99. The trade was a 14.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.14% of the company’s stock.

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.