Iowa State Bank Has $3.90 Million Stock Holdings in Truist Financial Co. (NYSE:TFC)

Iowa State Bank trimmed its position in shares of Truist Financial Co. (NYSE:TFC) by 1.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 89,799 shares of the insurance provider’s stock after selling 1,130 shares during the quarter. Iowa State Bank’s holdings in Truist Financial were worth $3,895,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Valley Wealth Managers Inc. acquired a new position in Truist Financial in the third quarter valued at about $26,000. Y.D. More Investments Ltd acquired a new position in shares of Truist Financial in the 2nd quarter valued at approximately $31,000. MidAtlantic Capital Management Inc. bought a new stake in Truist Financial during the 3rd quarter worth approximately $32,000. Fortitude Family Office LLC raised its holdings in Truist Financial by 376.7% during the 3rd quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock worth $37,000 after buying an additional 678 shares during the period. Finally, Ashton Thomas Securities LLC bought a new position in Truist Financial in the third quarter valued at approximately $45,000. Institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Performance

Shares of NYSE:TFC traded up $0.42 during trading on Monday, reaching $44.52. 2,995,854 shares of the stock were exchanged, compared to its average volume of 4,285,667. The firm has a market cap of $59.10 billion, a PE ratio of -31.13, a PEG ratio of 1.88 and a beta of 1.08. The stock has a 50-day moving average price of $45.30 and a 200-day moving average price of $43.14. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.62. Truist Financial Co. has a 12 month low of $34.23 and a 12 month high of $49.06.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.08. The firm had revenue of $5.09 billion for the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. Research analysts expect that Truist Financial Co. will post 3.7 EPS for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 8th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.67%. The ex-dividend date was Friday, November 8th. Truist Financial’s dividend payout ratio (DPR) is -145.45%.

Analyst Upgrades and Downgrades

TFC has been the topic of several research reports. Stephens reaffirmed an “overweight” rating and issued a $54.00 price objective on shares of Truist Financial in a research report on Thursday. Citigroup upped their price target on Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. Keefe, Bruyette & Woods lifted their price objective on shares of Truist Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. increased their target price on shares of Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Finally, Barclays boosted their price target on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Monday. Twelve analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Truist Financial has a consensus rating of “Hold” and an average price target of $49.39.

Insiders Place Their Bets

In related news, CEO William H. Rogers, Jr. purchased 34,180 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were bought at an average price of $48.56 per share, for a total transaction of $1,659,780.80. Following the completion of the transaction, the chief executive officer now owns 691,451 shares of the company’s stock, valued at approximately $33,576,860.56. This trade represents a 5.20 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director K. David Jr. Boyer sold 4,966 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total transaction of $229,429.20. Following the sale, the director now directly owns 11,246 shares of the company’s stock, valued at $519,565.20. This represents a 30.63 % decrease in their position. The disclosure for this sale can be found here. 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.