Daymark Wealth Partners LLC Buys 305 Shares of Truist Financial Co. (NYSE:TFC)

Daymark Wealth Partners LLC grew its stake in shares of Truist Financial Co. (NYSE:TFC) by 4.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,231 shares of the insurance provider’s stock after buying an additional 305 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Truist Financial were worth $314,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of TFC. Bangor Savings Bank grew its position in Truist Financial by 92.5% during the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock worth $25,000 after acquiring an additional 272 shares during the last quarter. Valley Wealth Managers Inc. acquired a new stake in shares of Truist Financial during the third quarter valued at about $26,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Truist Financial during the third quarter worth about $32,000. Fortitude Family Office LLC increased its stake in shares of Truist Financial by 376.7% in the third quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock valued at $37,000 after buying an additional 678 shares during the period. Finally, Ashton Thomas Securities LLC bought a new position in Truist Financial in the 3rd quarter valued at approximately $45,000. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO William H. Rogers, Jr. bought 34,180 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were acquired at an average cost of $48.56 per share, with a total value of $1,659,780.80. Following the completion of the purchase, the chief executive officer now directly owns 691,451 shares of the company’s stock, valued at $33,576,860.56. This trade represents a 5.20 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director K. David Jr. Boyer sold 4,966 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 11,246 shares of the company’s stock, valued at approximately $519,565.20. This represents a 30.63 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

TFC has been the subject of several recent research reports. JPMorgan Chase & Co. upped their price target on shares of Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. Piper Sandler increased their price target on Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Compass Point lifted their price objective on Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Finally, Morgan Stanley increased their target price on shares of Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a research report on Tuesday. Eleven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.79.

Truist Financial Price Performance

Shares of NYSE TFC opened at $46.96 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. Truist Financial Co. has a fifty-two week low of $34.23 and a fifty-two week high of $49.06. The stock has a market cap of $62.34 billion, a PE ratio of 14.10, a price-to-earnings-growth ratio of 1.67 and a beta of 1.08. The stock has a fifty day moving average of $45.47 and a 200-day moving average of $43.77.

Truist Financial (NYSE:TFC) last posted its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The business had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5,047,370 billion. During the same quarter in the previous year, the firm earned $0.81 EPS. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. Equities research analysts anticipate that Truist Financial Co. will post 3.95 earnings per share for the current year.

About Truist Financial

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.