EdgeRock Capital LLC Invests $111,000 in Truist Financial Co. (NYSE:TFC)

EdgeRock Capital LLC bought a new stake in Truist Financial Co. (NYSE:TFC) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 3,023 shares of the insurance provider’s stock, valued at approximately $111,000.

Several other large investors have also recently bought and sold shares of TFC. Morton Brown Family Wealth LLC grew its stake in Truist Financial by 236.0% during the fourth quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 649 shares during the period. OFI Invest Asset Management bought a new stake in shares of Truist Financial in the third quarter valued at $26,000. Criterion Capital Advisors LLC purchased a new position in shares of Truist Financial in the fourth quarter valued at $38,000. Operose Advisors LLC purchased a new position in shares of Truist Financial in the third quarter valued at $31,000. Finally, Tyler Stone Wealth Management purchased a new position in shares of Truist Financial in the third quarter valued at $33,000. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Stock Down 0.8 %

NYSE:TFC traded down $0.31 during trading hours on Tuesday, reaching $39.11. 10,142,143 shares of the company traded hands, compared to its average volume of 9,458,070. Truist Financial Co. has a 1 year low of $26.49 and a 1 year high of $40.35. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.75. The business’s 50-day moving average price is $37.34 and its two-hundred day moving average price is $35.39. The stock has a market capitalization of $52.20 billion, a P/E ratio of -29.63, a P/E/G ratio of 2.03 and a beta of 1.07.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.78 by $0.12. The company had revenue of $4.87 billion for the quarter, compared to the consensus estimate of $5.70 billion. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. Truist Financial’s revenue for the quarter was down 8.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.09 EPS. Analysts predict that Truist Financial Co. will post 3.3 earnings per share for the current year.

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 10th will be given a $0.52 dividend. The ex-dividend date is Thursday, May 9th. This represents a $2.08 annualized dividend and a yield of 5.32%. Truist Financial’s dividend payout ratio (DPR) is presently -157.58%.

Analyst Ratings Changes

Several equities analysts recently commented on TFC shares. Stephens restated an “overweight” rating and set a $43.00 target price on shares of Truist Financial in a research report on Tuesday, April 23rd. Morgan Stanley reissued an “equal weight” rating and issued a $43.00 target price on shares of Truist Financial in a research note on Monday, April 22nd. Royal Bank of Canada boosted their target price on Truist Financial from $40.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. Keefe, Bruyette & Woods boosted 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. Finally, StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a research note on Thursday, May 2nd. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $41.88.

Insider Buying and Selling at Truist Financial

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $37.48, for a total value of $141,074.72. Following the completion of the transaction, the director now owns 16,132 shares of the company’s stock, valued at approximately $604,627.36. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.17% of the company’s stock.

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.