Rather & Kittrell Inc. Increases Holdings in Truist Financial Co. (NYSE:TFC)

Rather & Kittrell Inc. grew its holdings in Truist Financial Co. (NYSE:TFC) by 0.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 55,457 shares of the insurance provider’s stock after buying an additional 461 shares during the quarter. Truist Financial makes up about 0.7% of Rather & Kittrell Inc.’s investment portfolio, making the stock its 24th largest holding. Rather & Kittrell Inc.’s holdings in Truist Financial were worth $2,047,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Bleakley Financial Group LLC lifted its stake in shares of Truist Financial by 6.1% in the 4th quarter. Bleakley Financial Group LLC now owns 29,890 shares of the insurance provider’s stock valued at $1,104,000 after purchasing an additional 1,731 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in Truist Financial by 53.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 338,972 shares of the insurance provider’s stock valued at $12,515,000 after buying an additional 117,524 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in Truist Financial by 3,359.6% in the fourth quarter. International Assets Investment Management LLC now owns 1,045,560 shares of the insurance provider’s stock worth $38,602,000 after acquiring an additional 1,015,338 shares in the last quarter. Loudon Investment Management LLC increased its holdings in shares of Truist Financial by 18.5% during the third quarter. Loudon Investment Management LLC now owns 131,398 shares of the insurance provider’s stock valued at $3,759,000 after acquiring an additional 20,490 shares in the last quarter. Finally, Pathstone Family Office LLC raised its position in shares of Truist Financial by 84.8% in the 3rd quarter. Pathstone Family Office LLC now owns 97,317 shares of the insurance provider’s stock worth $2,786,000 after purchasing an additional 44,659 shares during the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

Truist Financial Stock Performance

Shares of NYSE TFC traded up $0.20 during midday trading on Friday, hitting $38.17. 4,634,133 shares of the company’s stock traded hands, compared to its average volume of 9,603,498. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.82 and a current ratio of 0.82. Truist Financial Co. has a 1 year low of $25.56 and a 1 year high of $39.29. The stock has a market capitalization of $50.94 billion, a price-to-earnings ratio of -28.92, a price-to-earnings-growth ratio of 2.04 and a beta of 1.08. The firm has a fifty day moving average of $36.90 and a 200 day moving average of $34.82.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.78 by $0.12. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The firm had revenue of $4.87 billion for the quarter, compared to the consensus estimate of $5.70 billion. The business’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.09 earnings per share. On average, analysts forecast that Truist Financial Co. will post 3.27 earnings per share for the current year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 10th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.45%. The ex-dividend date is Thursday, May 9th. Truist Financial’s dividend payout ratio (DPR) is -157.58%.

Insiders Place Their Bets

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $37.48, for a total transaction of $141,074.72. Following the completion of the transaction, the director now owns 16,132 shares in the company, valued at approximately $604,627.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.17% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TFC. Raymond James raised their price objective on shares of Truist Financial from $34.00 to $41.00 and gave the company an “outperform” rating in a research note on Friday, January 5th. Citigroup boosted their price objective on shares of Truist Financial from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday. Keefe, Bruyette & Woods increased their target price on Truist Financial from $44.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, April 5th. TheStreet cut Truist Financial from a “b-” rating to a “c” rating in a research note on Tuesday, February 20th. Finally, UBS Group upped their price target on Truist Financial from $45.00 to $49.00 and gave the company a “buy” rating in a report on Friday, April 5th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Truist Financial currently has a consensus rating of “Moderate Buy” and an average target price of $41.97.

Truist Financial 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.