Ibex Wealth Advisors Grows Holdings in Truist Financial Co. (NYSE:TFC)

Ibex Wealth Advisors boosted its position in Truist Financial Co. (NYSE:TFC - Free Report) by 842.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 175,781 shares of the insurance provider's stock after purchasing an additional 157,125 shares during the period. Ibex Wealth Advisors' holdings in Truist Financial were worth $7,625,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. BSW Wealth Partners increased its position in shares of Truist Financial by 6.6% during the fourth quarter. BSW Wealth Partners now owns 11,047 shares of the insurance provider's stock worth $479,000 after acquiring an additional 682 shares during the period. Patriot Financial Group Insurance Agency LLC increased its position in shares of Truist Financial by 5.0% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 15,824 shares of the insurance provider's stock worth $686,000 after acquiring an additional 750 shares during the period. Stonegate Investment Group LLC increased its position in shares of Truist Financial by 30.7% during the fourth quarter. Stonegate Investment Group LLC now owns 6,277 shares of the insurance provider's stock worth $272,000 after acquiring an additional 1,473 shares during the period. Perigon Wealth Management LLC increased its position in shares of Truist Financial by 18.1% during the fourth quarter. Perigon Wealth Management LLC now owns 10,836 shares of the insurance provider's stock worth $487,000 after acquiring an additional 1,661 shares during the period. Finally, Diamant Asset Management Inc. increased its position in shares of Truist Financial by 9.3% during the fourth quarter. Diamant Asset Management Inc. now owns 39,821 shares of the insurance provider's stock worth $1,727,000 after acquiring an additional 3,390 shares during the period. Institutional investors own 71.28% of the company's stock.

Insider Buying and Selling at Truist Financial

In other news, Director K. David Jr. Boyer sold 4,966 shares of the firm's stock in a transaction that occurred on 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 trade represents a 30.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William H. Rogers, Jr. bought 34,180 shares of the firm's stock in a transaction dated Monday, November 25th. The stock was purchased at an average price of $48.56 per share, for a total transaction of $1,659,780.80. Following the transaction, the chief executive officer now owns 691,451 shares of the company's stock, valued at approximately $33,576,860.56. This represents a 5.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.17% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TFC. The Goldman Sachs Group raised their target price on shares of Truist Financial from $50.00 to $60.00 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. Compass Point lifted their price objective on shares of Truist Financial from $47.00 to $56.00 and gave the company a "buy" rating in a report on Tuesday, December 10th. Barclays lifted their price objective 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. Stephens lifted their price objective on shares of Truist Financial from $54.00 to $57.00 and gave the company an "overweight" rating in a report on Tuesday, January 21st. Finally, Hsbc Global Res raised shares of Truist Financial from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 7th. Eleven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $50.79.

Truist Financial Stock Performance

Shares of NYSE:TFC traded up $0.58 during trading on Thursday, hitting $48.02. The stock had a trading volume of 7,746,957 shares, compared to its average volume of 7,659,818. The stock has a market capitalization of $63.75 billion, a price-to-earnings ratio of 14.42, a price-to-earnings-growth ratio of 1.67 and a beta of 1.08. Truist Financial Co. has a 12-month low of $34.23 and a 12-month high of $49.06. The stock has a 50-day simple moving average of $45.53 and a two-hundred day simple moving average of $44.02. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61.

Truist Financial (NYSE:TFC - Get Free Report) last posted its earnings results on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.88 by $0.03. The firm had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. Truist Financial's revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period last year, the company earned $0.81 earnings per share. On average, equities research analysts expect that Truist Financial Co. will post 3.95 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.33%. The ex-dividend date is Friday, February 14th. Truist Financial's dividend payout ratio (DPR) is 62.46%.

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.