Truist Financial Co. (NYSE:TFC) Shares Sold by Kovack Advisors Inc.

Kovack Advisors Inc. lowered its stake in Truist Financial Co. (NYSE:TFC) by 4.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 6,468 shares of the insurance provider’s stock after selling 327 shares during the quarter. Kovack Advisors Inc.’s holdings in Truist Financial were worth $281,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of TFC. Bangor Savings Bank lifted its holdings in Truist Financial by 92.5% in the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 272 shares during the period. Valley Wealth Managers Inc. acquired a new stake in Truist Financial in the third quarter worth about $26,000. MidAtlantic Capital Management Inc. acquired a new stake in Truist Financial in the third quarter worth about $32,000. Ashton Thomas Securities LLC acquired a new stake in Truist Financial in the third quarter worth about $45,000. Finally, True Wealth Design LLC acquired a new stake in Truist Financial in the third quarter worth about $51,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Insider Activity

In other news, 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 value of $229,429.20. Following the transaction, the director now owns 11,246 shares in the company, valued at $519,565.20. This represents a 30.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.17% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. The Goldman Sachs Group upped their price objective on shares of Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Hsbc Global Res raised shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Keefe, Bruyette & Woods upped their price target on shares of Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Tuesday, January 21st. Barclays upped their price target on shares of Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Finally, StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, January 17th. Eleven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $50.79.

Truist Financial Price Performance

Shares of TFC opened at $46.37 on Friday. The company has a market capitalization of $60.52 billion, a price-to-earnings ratio of 13.92, a P/E/G ratio of 1.63 and a beta of 1.08. Truist Financial Co. has a fifty-two week low of $34.51 and a fifty-two week high of $49.06. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. The business’s 50-day moving average is $45.78 and its 200-day moving average is $44.64.

Truist Financial (NYSE:TFC) last issued its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. The company had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.81 EPS. Equities research analysts expect that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.49%. Truist Financial’s dividend payout ratio is 62.46%.

Truist Financial Company 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.