Roxbury Financial LLC Makes New $475,000 Investment in Truist Financial Co. (NYSE:TFC)

Roxbury Financial LLC purchased a new stake in shares of Truist Financial Co. (NYSE:TFC - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 9,958 shares of the insurance provider's stock, valued at approximately $475,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bangor Savings Bank increased its position in shares of Truist Financial by 92.5% during the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider's stock valued at $25,000 after buying an additional 272 shares during the period. Valley Wealth Managers Inc. purchased a new position in shares of Truist Financial during the third quarter valued at about $26,000. MidAtlantic Capital Management Inc. purchased a new position in shares of Truist Financial during the third quarter valued at about $32,000. Fortitude Family Office LLC lifted its stake in shares of Truist Financial by 376.7% in the 3rd quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider's stock valued at $37,000 after purchasing an additional 678 shares during the period. Finally, Ashton Thomas Securities LLC purchased a new position in shares of Truist Financial in the 3rd quarter valued at approximately $45,000. Hedge funds and other institutional investors own 71.28% of the company's stock.

Insider Activity at Truist Financial

In other news, Director K. David Jr. Boyer sold 4,966 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total value of $229,429.20. Following the sale, the director now owns 11,246 shares of the company's stock, valued at approximately $519,565.20. This represents a 30.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William H. Rogers, Jr. bought 34,180 shares of Truist Financial stock in a transaction dated Monday, November 25th. The stock was purchased at an average cost of $48.56 per share, for a total transaction of $1,659,780.80. Following the purchase, 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 position. The disclosure for this purchase can be found here. 0.17% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on TFC shares. Compass Point raised their target price on Truist Financial from $47.00 to $56.00 and gave the company a "buy" rating in a research note on Tuesday, December 10th. HSBC raised shares of Truist Financial from a "hold" rating to a "buy" rating and set a $50.00 target price on the stock in a research report on Tuesday, January 7th. Morgan Stanley lifted their target price on shares of Truist Financial from $55.00 to $56.00 and gave the company an "equal weight" rating in a report on Tuesday, January 21st. Wells Fargo & Company lifted their target price on shares of Truist Financial from $48.00 to $52.00 and gave the company an "overweight" rating in a report on Friday, November 15th. Finally, Hsbc Global Res raised Truist Financial from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 7th. Eleven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Truist Financial has an average rating of "Moderate Buy" and a consensus price target of $50.79.

Truist Financial Price Performance

Shares of TFC stock traded down $0.49 during mid-day trading on Wednesday, hitting $47.13. The company had a trading volume of 2,579,750 shares, compared to its average volume of 7,346,739. The company has a market capitalization of $62.56 billion, a P/E ratio of 14.15, a P/E/G ratio of 1.64 and a beta of 1.08. The stock's 50 day moving average price is $45.55 and its 200-day moving average price is $44.41. Truist Financial Co. has a 52-week low of $34.26 and a 52-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.

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 analysts' consensus estimates of $0.88 by $0.03. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The company had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.05 billion. During the same period in the previous year, the business earned $0.81 earnings per share. The firm's revenue for the quarter was up 3.4% on a year-over-year basis. Equities research analysts forecast that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Dividend Announcement

The firm 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 $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date is Friday, February 14th. Truist Financial's dividend payout ratio (DPR) is presently 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.