Grove Bank & Trust Has $274,000 Holdings in Truist Financial Co. (NYSE:TFC)

Grove Bank & Trust boosted its holdings in shares of Truist Financial Co. (NYSE:TFC) by 15.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,311 shares of the insurance provider’s stock after purchasing an additional 868 shares during the period. Grove Bank & Trust’s holdings in Truist Financial were worth $274,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TFC. My Legacy Advisors LLC raised its holdings in shares of Truist Financial by 16.2% in the fourth quarter. My Legacy Advisors LLC now owns 13,361 shares of the insurance provider’s stock valued at $606,000 after buying an additional 1,862 shares during the last quarter. Lbmc Investment Advisors LLC raised its stake in shares of Truist Financial by 3.9% in the fourth quarter. Lbmc Investment Advisors LLC now owns 8,415 shares of the insurance provider’s stock worth $365,000 after acquiring an additional 317 shares during the last quarter. HF Advisory Group LLC lifted its position in shares of Truist Financial by 50.5% during the fourth quarter. HF Advisory Group LLC now owns 35,117 shares of the insurance provider’s stock worth $1,523,000 after purchasing an additional 11,789 shares in the last quarter. Aaron Wealth Advisors LLC grew its stake in shares of Truist Financial by 3.0% during the fourth quarter. Aaron Wealth Advisors LLC now owns 7,712 shares of the insurance provider’s stock valued at $335,000 after purchasing an additional 227 shares during the last quarter. Finally, Financial Management Professionals Inc. increased its holdings in shares of Truist Financial by 12.8% in the fourth quarter. Financial Management Professionals Inc. now owns 10,693 shares of the insurance provider’s stock valued at $464,000 after purchasing an additional 1,211 shares in the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Trading Up 5.9 %

NYSE TFC opened at $47.63 on Monday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.85 and a quick ratio of 0.85. The stock’s 50-day moving average is $45.40 and its 200-day moving average is $43.57. Truist Financial Co. has a one year low of $34.23 and a one year high of $49.06. The firm has a market cap of $63.23 billion, a P/E ratio of -33.31, a P/E/G ratio of 1.67 and a beta of 1.08.

Truist Financial (NYSE:TFC) last announced its quarterly 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. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. The firm had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5,047,370 billion. During the same quarter in the previous year, the firm posted $0.81 earnings per share. The business’s revenue was up 3.4% on a year-over-year basis. Sell-side analysts anticipate that Truist Financial Co. will post 3.61 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 8th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.37%. The ex-dividend date of this dividend was Friday, November 8th. Truist Financial’s dividend payout ratio (DPR) is presently -145.45%.

Analyst Ratings Changes

A number of brokerages have commented on TFC. Wells Fargo & Company increased their price objective on Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. JPMorgan Chase & Co. raised their price target on Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Citigroup boosted their price objective on Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a report on Monday, November 25th. Hsbc Global Res upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Finally, Compass Point increased 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. Eleven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Truist Financial currently has an average rating of “Moderate Buy” and a consensus price target of $49.95.

Insider Buying and Selling at Truist Financial

In other Truist Financial news, CEO William H. Rogers, Jr. purchased 34,180 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was bought at an average cost of $48.56 per share, with a total value of $1,659,780.80. Following the purchase, the chief executive officer now directly owns 691,451 shares of the company’s stock, valued at $33,576,860.56. The trade was a 5.20 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director K. David Jr. Boyer sold 4,966 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total transaction of $229,429.20. Following the completion of the sale, the director now directly owns 11,246 shares in the company, valued at approximately $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.

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.