Keystone Financial Group Inc. purchased a new stake in shares of Truist Financial Co. (NYSE:TFC – Free Report) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 21,133 shares of the insurance provider’s stock, valued at approximately $917,000. Truist Financial accounts for 0.7% of Keystone Financial Group Inc.’s portfolio, making the stock its 23rd biggest holding.
Other hedge funds also recently bought and sold shares of the company. Bangor Savings Bank grew its holdings in shares of 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 period. Valley Wealth Managers Inc. bought a new stake in shares of Truist Financial in the 3rd quarter worth approximately $26,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Truist Financial in the 3rd quarter worth approximately $32,000. Fortitude Family Office LLC boosted its position in shares of Truist Financial by 376.7% in the 3rd quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 678 shares in the last quarter. Finally, Ashton Thomas Securities LLC bought a new stake in shares of Truist Financial in the 3rd quarter worth approximately $45,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.
Insiders Place Their Bets
In other Truist Financial news, CEO William H. Rogers, Jr. purchased 34,180 shares of the business’s stock in a transaction on Monday, November 25th. The stock was acquired at an average price of $48.56 per share, for a total transaction of $1,659,780.80. Following the purchase, the chief executive officer now owns 691,451 shares of the company’s stock, valued at approximately $33,576,860.56. This represents a 5.20 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director K. David Jr. Boyer sold 4,966 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total transaction of $229,429.20. Following the transaction, the director now directly owns 11,246 shares of the company’s stock, valued at $519,565.20. This trade represents 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.
Analyst Upgrades and Downgrades
View Our Latest Research Report on TFC
Truist Financial Trading Up 1.0 %
NYSE:TFC opened at $48.14 on Friday. 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 firm has a market capitalization of $63.90 billion, a price-to-earnings ratio of 14.46, a price-to-earnings-growth ratio of 1.69 and a beta of 1.08. Truist Financial Co. has a one year low of $34.23 and a one year high of $49.06. The business has a fifty day moving average price of $45.52 and a 200-day moving average price of $44.20.
Truist Financial (NYSE:TFC – Get Free Report) last posted its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.88 by $0.03. The firm had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. Truist Financial’s revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.81 EPS. Sell-side analysts forecast that Truist Financial Co. will post 3.95 EPS for the current year.
Truist Financial Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be paid a $0.52 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.08 annualized dividend and a dividend yield of 4.32%. Truist Financial’s dividend payout ratio (DPR) is 62.46%.
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.
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