First Citizens Bank & Trust Co. Sells 4,815 Shares of Truist Financial Co. (NYSE:TFC)

First Citizens Bank & Trust Co. lessened its holdings in Truist Financial Co. (NYSE:TFC) by 4.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 107,182 shares of the insurance provider’s stock after selling 4,815 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Truist Financial were worth $4,650,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Patton Albertson Miller Group LLC grew its stake in Truist Financial by 8.6% in the 4th quarter. Patton Albertson Miller Group LLC now owns 30,104 shares of the insurance provider’s stock valued at $1,306,000 after purchasing an additional 2,385 shares during the period. Toth Financial Advisory Corp boosted its stake in Truist Financial by 18.2% in the 4th quarter. Toth Financial Advisory Corp now owns 7,871 shares of the insurance provider’s stock worth $341,000 after purchasing an additional 1,213 shares during the period. Cyndeo Wealth Partners LLC boosted its stake in Truist Financial by 3.4% in the 4th quarter. Cyndeo Wealth Partners LLC now owns 171,595 shares of the insurance provider’s stock worth $7,444,000 after purchasing an additional 5,682 shares during the period. Geneos Wealth Management Inc. boosted its stake in Truist Financial by 3.2% in the 4th quarter. Geneos Wealth Management Inc. now owns 14,081 shares of the insurance provider’s stock worth $611,000 after purchasing an additional 437 shares during the period. Finally, Exchange Traded Concepts LLC raised its holdings in shares of Truist Financial by 18.1% in the 4th quarter. Exchange Traded Concepts LLC now owns 2,371 shares of the insurance provider’s stock valued at $103,000 after acquiring an additional 364 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Analysts Set New Price Targets

TFC has been the topic of several recent analyst reports. Hsbc Global Res raised Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Wells Fargo & Company lifted their price target on Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Barclays lifted their price objective on Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Citigroup lifted their price objective on Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. Finally, Raymond James lifted their price target on Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Eleven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Truist Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.79.

Insider Buying and Selling at Truist Financial

In related news, CEO William H. Rogers, Jr. acquired 34,180 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was acquired at an average price of $48.56 per share, with a total value of $1,659,780.80. Following the acquisition, the chief executive officer now directly owns 691,451 shares in the company, valued at $33,576,860.56. This represents a 5.20 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director K. David Jr. Boyer sold 4,966 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total value 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 trade represents a 30.63 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.17% of the company’s stock.

Truist Financial Stock Up 0.4 %

Shares of TFC stock opened at $46.96 on Friday. Truist Financial Co. has a 1-year low of $34.23 and a 1-year high of $49.06. The stock’s fifty day moving average price is $45.48 and its 200 day moving average price is $43.83. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. The company has a market cap of $62.34 billion, a price-to-earnings ratio of 14.10, a price-to-earnings-growth ratio of 1.67 and a beta of 1.08.

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