Kestra Advisory Services LLC Buys 13,436 Shares of Truist Financial Corporation $TFC

Kestra Advisory Services LLC lifted its position in shares of Truist Financial Corporation (NYSE:TFC) by 5.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 259,921 shares of the insurance provider’s stock after acquiring an additional 13,436 shares during the quarter. Kestra Advisory Services LLC’s holdings in Truist Financial were worth $12,034,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. N.E.W. Advisory Services LLC acquired a new stake in shares of Truist Financial in the second quarter valued at approximately $30,000. Navigoe LLC purchased a new position in shares of Truist Financial in the 2nd quarter valued at $30,000. Wilkerson Advisory Group LLC increased its holdings in Truist Financial by 104.0% during the 1st quarter. Wilkerson Advisory Group LLC now owns 826 shares of the insurance provider’s stock worth $38,000 after purchasing an additional 421 shares during the last quarter. Elevation Wealth Partners LLC boosted its holdings in Truist Financial by 44.6% in the second quarter. Elevation Wealth Partners LLC now owns 892 shares of the insurance provider’s stock worth $44,000 after purchasing an additional 275 shares during the period. Finally, Latitude Advisors LLC acquired a new position in shares of Truist Financial during the third quarter valued at $45,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Price Performance

Shares of NYSE TFC opened at $50.40 on Tuesday. Truist Financial Corporation has a twelve month low of $43.13 and a twelve month high of $56.19. The company has a market capitalization of $60.41 billion, a price-to-earnings ratio of 12.99, a PEG ratio of 1.13 and a beta of 0.90. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.95. The firm has a 50-day moving average of $48.34 and a two-hundred day moving average of $49.50.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Friday, October 16th. The insurance provider reported $1.16 earnings per share for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.01). Truist Financial had a return on equity of 10.37% and a net margin of 18.01%. The company had revenue of $5.30 billion during the quarter, compared to analysts’ expectations of $5.35 billion. During the same period in the prior year, the business posted $1.04 EPS. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. As a group, analysts expect that Truist Financial Corporation will post 4.66 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Friday, November 13th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Friday, November 13th. Truist Financial’s dividend payout ratio (DPR) is currently 53.61%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TFC. The Goldman Sachs Group cut their price objective on Truist Financial from $59.00 to $58.00 and set a “buy” rating on the stock in a research note on Monday, October 19th. Weiss Ratings reiterated a “buy (b)” rating on shares of Truist Financial in a report on Tuesday, October 27th. Wells Fargo & Company set a $52.00 target price on Truist Financial in a research note on Thursday, October 8th. Bank of America lowered their target price on Truist Financial from $56.00 to $53.00 in a research note on Thursday, October 8th. Finally, JPMorgan Chase & Co. upped their target price on Truist Financial from $50.50 to $51.50 and gave the stock an “underweight” rating in a report on Friday, October 30th. Nine research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $54.73.

Insider Activity at Truist Financial

In other Truist Financial news, CEO Michael Lyons acquired 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 28th. The shares were purchased at an average price of $48.36 per share, with a total value of $1,209,000.00. Following the completion of the transaction, the chief executive officer owned 46,000 shares in the company, valued at $2,224,560. The trade was a 119.05% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.15% of the company’s stock.

About Truist Financial

Truist Financial Corporation (NYSE: TFC) is a financial services company headquartered in Charlotte, North Carolina. It provides banking and related services to individuals, businesses and institutions, including deposit accounts, loans, credit cards, payment services and treasury management.

The company also offers wealth management, investment and mortgage services, along with commercial banking and capital markets solutions. Its operations are concentrated in the southeastern and mid-Atlantic United States, serving customers through branches, digital channels and other delivery platforms.

Truist was formed in 2019 through the merger of BB&T Corporation and SunTrust Banks.