Parkside Investments LLC Grows Position in Truist Financial Co. (NYSE:TFC)

Parkside Investments LLC raised its holdings in shares of Truist Financial Co. (NYSE:TFC – Get Rating) by 7.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 151,379 shares of the insurance provider’s stock after purchasing an additional 9,876 shares during the quarter. Parkside Investments LLC’s holdings in Truist Financial were worth $6,514,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Tompkins Financial Corp lifted its position in Truist Financial by 8.0% during the third quarter. Tompkins Financial Corp now owns 3,246 shares of the insurance provider’s stock valued at $141,000 after buying an additional 241 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc. lifted its position in Truist Financial by 3.2% during the third quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 8,071 shares of the insurance provider’s stock valued at $351,000 after buying an additional 250 shares during the period. Fortis Advisors LLC lifted its position in Truist Financial by 2.6% during the third quarter. Fortis Advisors LLC now owns 10,228 shares of the insurance provider’s stock valued at $445,000 after buying an additional 258 shares during the period. Rossmore Private Capital increased its holdings in shares of Truist Financial by 0.7% during the third quarter. Rossmore Private Capital now owns 40,103 shares of the insurance provider’s stock valued at $1,746,000 after acquiring an additional 260 shares in the last quarter. Finally, Brookstone Capital Management increased its holdings in shares of Truist Financial by 1.6% during the fourth quarter. Brookstone Capital Management now owns 16,470 shares of the insurance provider’s stock valued at $755,000 after acquiring an additional 266 shares in the last quarter. 72.49% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Truist Financial

In other Truist Financial news, insider Hugh S. Cummins III sold 35,229 shares of the business’s stock in a transaction dated Friday, January 27th. The stock was sold at an average price of $49.05, for a total transaction of $1,727,982.45. Following the completion of the sale, the insider now directly owns 307,069 shares in the company, valued at approximately $15,061,734.45. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Truist Financial news, insider Hugh S. Cummins III sold 35,229 shares of the business’s stock in a transaction dated Friday, January 27th. The stock was sold at an average price of $49.05, for a total transaction of $1,727,982.45. Following the completion of the sale, the insider now directly owns 307,069 shares in the company, valued at approximately $15,061,734.45. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director David M. Ratcliffe purchased 13,125 shares of the business’s stock in a transaction on Friday, March 10th. The shares were purchased at an average price of $38.08 per share, with a total value of $499,800.00. Following the completion of the purchase, the director now owns 39,025 shares in the company, valued at $1,486,072. The disclosure for this purchase can be found here. Corporate insiders own 0.31% of the company’s stock.

Truist Financial Price Performance

NYSE TFC opened at $30.56 on Friday. Truist Financial Co. has a one year low of $28.70 and a one year high of $61.10. The stock has a 50-day moving average of $45.85 and a 200 day moving average of $44.97. The company has a market capitalization of $40.59 billion, a price-to-earnings ratio of 6.90, a PEG ratio of 1.37 and a beta of 1.10. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.80 and a current ratio of 0.81.

Truist Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 1st. Shareholders of record on Friday, February 10th were paid a dividend of $0.52 per share. The ex-dividend date was Thursday, February 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 6.81%. Truist Financial’s dividend payout ratio is currently 46.95%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. TheStreet upgraded Truist Financial from a “c+” rating to a “b-” rating in a report on Monday, January 23rd. Deutsche Bank Aktiengesellschaft downgraded Truist Financial from a “buy” rating to a “hold” rating and reduced their price target for the company from $61.00 to $48.00 in a report on Friday, January 6th. Keefe, Bruyette & Woods upgraded Truist Financial from an “underperform” rating to a “market perform” rating and reduced their price target for the company from $47.00 to $45.00 in a report on Sunday, March 12th. Stephens downgraded Truist Financial from an “overweight” rating to an “equal weight” rating and set a $53.00 price target for the company. in a report on Tuesday, January 31st. Finally, Citigroup upgraded Truist Financial from a “neutral” rating to a “buy” rating and set a $52.00 price target for the company in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Truist Financial currently has an average rating of “Hold” and a consensus target price of $51.58.

About Truist Financial

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Truist Financial Corp. is a financial holding company, which engages in the provision of banking services to individuals, businesses, and municipalities. It operates through the following segments: Consumer Banking and Wealth, Corporate and Commercial Banking, Insurance Holdings, and Other, Treasury & Corporate.