Rather & Kittrell Inc. Acquires 461 Shares of Truist Financial Co. (NYSE:TFC)

Rather & Kittrell Inc. boosted its holdings in Truist Financial Co. (NYSE:TFC) by 0.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 55,457 shares of the insurance provider’s stock after purchasing an additional 461 shares during the quarter. Truist Financial accounts for about 0.7% of Rather & Kittrell Inc.’s portfolio, making the stock its 24th largest holding. Rather & Kittrell Inc.’s holdings in Truist Financial were worth $2,047,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. OFI Invest Asset Management acquired a new stake in shares of Truist Financial during the 3rd quarter worth $26,000. Operose Advisors LLC bought a new position in Truist Financial in the 3rd quarter valued at about $31,000. Tyler Stone Wealth Management acquired a new position in shares of Truist Financial in the 3rd quarter valued at approximately $33,000. Morton Brown Family Wealth LLC lifted its holdings in shares of Truist Financial by 236.0% during the 4th quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 649 shares during the period. Finally, Authentikos Wealth Advisory LLC acquired a new stake in shares of Truist Financial during the 3rd quarter worth approximately $36,000. Institutional investors own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

TFC has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their target price on Truist Financial from $39.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Compass Point raised shares of Truist Financial from a “neutral” rating to a “buy” rating and lifted their price target for the company from $34.00 to $42.00 in a report on Tuesday. Morgan Stanley reissued an “equal weight” rating and issued a $43.00 price objective on shares of Truist Financial in a research note on Monday. Piper Sandler boosted their target price on shares of Truist Financial from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, January 19th. Finally, Stephens reiterated an “overweight” rating and issued a $43.00 price target on shares of Truist Financial in a research note on Tuesday. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $41.97.

Truist Financial Stock Up 0.5 %

Shares of TFC stock traded up $0.20 on Friday, reaching $38.17. 4,634,133 shares of the company were exchanged, compared to its average volume of 9,603,498. Truist Financial Co. has a one year low of $25.56 and a one year high of $39.29. The company has a market cap of $50.94 billion, a price-to-earnings ratio of -28.92, a PEG ratio of 2.04 and a beta of 1.08. The company has a 50-day moving average of $36.90 and a 200-day moving average of $34.82. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.82 and a quick ratio of 0.82.

Truist Financial (NYSE:TFC) last issued its earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $4.87 billion for the quarter, compared to analysts’ expectations of $5.70 billion. During the same period last year, the business earned $1.09 EPS. Truist Financial’s quarterly revenue was down 8.8% compared to the same quarter last year. Analysts anticipate that Truist Financial Co. will post 3.27 earnings per share for the current year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 10th will be given a dividend of $0.52 per share. The ex-dividend date is Thursday, May 9th. This represents a $2.08 annualized dividend and a dividend yield of 5.45%. Truist Financial’s payout ratio is -157.58%.

Insider Buying and Selling

In other news, Director K. David Jr. Boyer sold 3,764 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $37.48, for a total value of $141,074.72. Following the completion of the sale, the director now owns 16,132 shares in the company, valued at $604,627.36. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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.