Uncommon Cents Investing LLC Grows Holdings in Truist Financial Co. (NYSE:TFC)

Uncommon Cents Investing LLC raised its position in Truist Financial Co. (NYSE:TFC) by 19.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,345 shares of the insurance provider’s stock after purchasing an additional 1,846 shares during the period. Uncommon Cents Investing LLC’s holdings in Truist Financial were worth $419,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. EPG Wealth Management LLC lifted its stake in Truist Financial by 1.8% during the fourth quarter. EPG Wealth Management LLC now owns 12,219 shares of the insurance provider’s stock worth $526,000 after purchasing an additional 213 shares during the last quarter. Williams Jones Wealth Management LLC. lifted its stake in Truist Financial by 5.8% in the first quarter. Williams Jones Wealth Management LLC. now owns 4,850 shares of the insurance provider’s stock valued at $275,000 after buying an additional 268 shares during the last quarter. Financial Advocates Investment Management lifted its stake in Truist Financial by 3.5% in the fourth quarter. Financial Advocates Investment Management now owns 9,071 shares of the insurance provider’s stock valued at $390,000 after buying an additional 306 shares during the last quarter. SVB Wealth LLC lifted its stake in Truist Financial by 7.9% in the second quarter. SVB Wealth LLC now owns 4,568 shares of the insurance provider’s stock valued at $217,000 after buying an additional 335 shares during the last quarter. Finally, Cape Investment Advisory Inc. lifted its stake in Truist Financial by 7.4% in the third quarter. Cape Investment Advisory Inc. now owns 4,849 shares of the insurance provider’s stock valued at $139,000 after buying an additional 335 shares during the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on TFC. UBS Group lifted their price objective on shares of Truist Financial from $37.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Piper Sandler lifted their price objective on shares of Truist Financial from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, January 19th. Keefe, Bruyette & Woods lifted their price objective on shares of Truist Financial from $42.00 to $44.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. Wells Fargo & Company boosted their price target on shares of Truist Financial from $39.00 to $45.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Odeon Capital Group upgraded shares of Truist Financial from a “hold” rating to a “buy” rating and set a $40.45 price target on the stock in a research report on Thursday, December 14th. One analyst has rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Truist Financial currently has an average rating of “Hold” and an average target price of $40.30.

Truist Financial Stock Performance

Shares of TFC stock traded up $0.38 during trading hours on Thursday, reaching $38.97. 8,403,567 shares of the company’s stock were exchanged, compared to its average volume of 9,890,929. The business has a fifty day moving average price of $36.41 and a 200-day moving average price of $33.42. Truist Financial Co. has a fifty-two week low of $25.56 and a fifty-two week high of $39.29. The stock has a market capitalization of $52.01 billion, a P/E ratio of -36.08, a P/E/G ratio of 1.58 and a beta of 1.07. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.74.

Truist Financial (NYSE:TFC) last announced its earnings results on Thursday, January 18th. The insurance provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.68 by $0.13. The company had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.70 billion. Truist Financial had a positive return on equity of 9.64% and a negative net margin of 3.28%. During the same quarter in the prior year, the business earned $1.30 earnings per share. Analysts predict that Truist Financial Co. will post 3.39 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were paid a $0.52 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $2.08 dividend on an annualized basis and a yield of 5.34%. Truist Financial’s dividend payout ratio is -192.59%.

Insider Transactions at Truist Financial

In other news, Director K. David Jr. Boyer sold 3,764 shares of Truist Financial 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 directly owns 16,132 shares in the company, valued at approximately $604,627.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.17% of the stock is currently owned by corporate insiders.

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.