RMR Wealth Builders Has $831,000 Position in Truist Financial Co. (NYSE:TFC)

RMR Wealth Builders lifted its stake in shares of Truist Financial Co. (NYSE:TFC) by 1.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 19,165 shares of the insurance provider’s stock after acquiring an additional 324 shares during the quarter. RMR Wealth Builders’ holdings in Truist Financial were worth $831,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in TFC. Sugarloaf Wealth Management LLC lifted its stake in shares of Truist Financial by 23.4% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 6,848 shares of the insurance provider’s stock valued at $297,000 after buying an additional 1,298 shares in the last quarter. Franklin Street Advisors Inc. NC lifted its position in Truist Financial by 12.3% in the 4th quarter. Franklin Street Advisors Inc. NC now owns 10,957 shares of the insurance provider’s stock valued at $475,000 after acquiring an additional 1,200 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Truist Financial by 0.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 494,122 shares of the insurance provider’s stock valued at $21,134,000 after purchasing an additional 1,336 shares during the last quarter. Fulton Bank N.A. increased its holdings in Truist Financial by 3.0% during the 4th quarter. Fulton Bank N.A. now owns 61,183 shares of the insurance provider’s stock worth $2,654,000 after purchasing an additional 1,771 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in shares of Truist Financial in the fourth quarter worth approximately $1,184,000. Institutional investors own 71.28% of the company’s stock.

Truist Financial Trading Down 2.5 %

Shares of TFC stock traded down $1.12 during trading hours on Friday, reaching $42.83. 8,002,123 shares of the stock were exchanged, 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. Truist Financial Co. has a 12-month low of $34.23 and a 12-month high of $49.06. The firm has a market capitalization of $56.86 billion, a price-to-earnings ratio of -29.95, a price-to-earnings-growth ratio of 1.88 and a beta of 1.08. The company’s 50-day moving average price is $45.36 and its 200-day moving average price is $43.26.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 earnings per share 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 analyst estimates of $5.05 billion. As a group, equities analysts anticipate that Truist Financial Co. will post 3.7 earnings per share for the current year.

Truist Financial Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts have issued reports on TFC shares. StockNews.com downgraded shares of Truist Financial from a “hold” rating to a “sell” rating in a report on Thursday. Piper Sandler upped their price target on shares of Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Hsbc Global Res raised shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Stephens reaffirmed an “overweight” rating and set a $54.00 price target on shares of Truist Financial in a research note on Thursday, January 2nd. Finally, Compass Point upped their price objective on shares of Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Truist Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.89.

Insider Buying and Selling

In other news, CEO William H. Rogers, Jr. bought 34,180 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were purchased at an average price of $48.56 per share, for a total transaction of $1,659,780.80. Following the completion of the transaction, the chief executive officer now directly owns 691,451 shares in the company, valued at approximately $33,576,860.56. This represents a 5.20 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director K. David Jr. Boyer sold 4,966 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total transaction of $229,429.20. Following the completion of the sale, the director now owns 11,246 shares in the company, valued at $519,565.20. The trade was a 30.63 % decrease in their position. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by company 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.