Cyndeo Wealth Partners LLC Increases Holdings in Truist Financial Co. (NYSE:TFC)

Cyndeo Wealth Partners LLC increased its holdings in shares of Truist Financial Co. (NYSE:TFCFree Report) by 901.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 165,913 shares of the insurance provider’s stock after acquiring an additional 149,338 shares during the period. Cyndeo Wealth Partners LLC’s holdings in Truist Financial were worth $7,096,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Capital Investment Counsel Inc raised its position in Truist Financial by 0.4% during the second quarter. Capital Investment Counsel Inc now owns 62,111 shares of the insurance provider’s stock valued at $2,413,000 after acquiring an additional 244 shares in the last quarter. Burkett Financial Services LLC raised its position in shares of Truist Financial by 26.8% during the 3rd quarter. Burkett Financial Services LLC now owns 1,198 shares of the insurance provider’s stock worth $51,000 after purchasing an additional 253 shares during the last quarter. Verum Partners LLC lifted its stake in Truist Financial by 2.5% in the 2nd quarter. Verum Partners LLC now owns 10,573 shares of the insurance provider’s stock valued at $411,000 after buying an additional 261 shares in the last quarter. CX Institutional boosted its holdings in Truist Financial by 3.4% in the 2nd quarter. CX Institutional now owns 8,050 shares of the insurance provider’s stock worth $313,000 after buying an additional 263 shares during the last quarter. Finally, Coldstream Capital Management Inc. increased its stake in Truist Financial by 1.5% during the 2nd quarter. Coldstream Capital Management Inc. now owns 18,593 shares of the insurance provider’s stock worth $722,000 after buying an additional 274 shares in the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

Truist Financial Stock Performance

NYSE TFC opened at $43.67 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.86 and a quick ratio of 0.86. The company has a market cap of $58.43 billion, a P/E ratio of -33.08, a P/E/G ratio of 1.82 and a beta of 1.05. The stock has a 50-day moving average of $42.67 and a two-hundred day moving average of $40.30. Truist Financial Co. has a 1-year low of $26.95 and a 1-year high of $45.31.

Truist Financial (NYSE:TFCGet Free Report) last announced its quarterly earnings data on Monday, July 22nd. The insurance provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.07. Truist Financial had a negative net margin of 5.63% and a positive return on equity of 9.18%. The firm had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $4.83 billion. During the same quarter in the previous year, the business posted $0.95 earnings per share. The business’s quarterly revenue was down 15.9% compared to the same quarter last year. As a group, analysts anticipate that Truist Financial Co. will post 3.55 EPS for the current year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.76%. The ex-dividend date of this dividend was Friday, August 9th. Truist Financial’s payout ratio is presently -157.58%.

Insider Transactions at Truist Financial

In other news, CEO William H. Rogers, Jr. bought 57,300 shares of Truist Financial stock in a transaction that occurred on Tuesday, July 23rd. The shares were purchased at an average price of $43.96 per share, with a total value of $2,518,908.00. Following the completion of the acquisition, the chief executive officer now directly owns 569,271 shares in the company, valued at $25,025,153.16. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Cynthia B. Powell sold 6,688 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $44.14, for a total transaction of $295,208.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William H. Rogers, Jr. purchased 57,300 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was bought at an average price of $43.96 per share, for a total transaction of $2,518,908.00. Following the completion of the purchase, the chief executive officer now directly owns 569,271 shares of the company’s stock, valued at $25,025,153.16. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

TFC has been the topic of several research reports. Citigroup downgraded Truist Financial from a “buy” rating to a “neutral” rating and raised their target price for the company from $45.00 to $47.00 in a research report on Wednesday, July 24th. Robert W. Baird lowered Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 price objective on the stock. in a report on Wednesday, July 17th. UBS Group upped their target price on shares of Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a report on Friday. Bank of America raised their price target on shares of Truist Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Truist Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Wednesday. Twelve research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $46.02.

Check Out Our Latest Stock Report on Truist Financial

About Truist Financial

(Free Report)

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.

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Institutional Ownership by Quarter for Truist Financial (NYSE:TFC)

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