Beese Fulmer Investment Management Inc. Buys 1,302 Shares of Truist Financial Co. (NYSE:TFC)

Beese Fulmer Investment Management Inc. raised its stake in shares of Truist Financial Co. (NYSE:TFC) by 8.7% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 16,278 shares of the insurance provider’s stock after purchasing an additional 1,302 shares during the period. Beese Fulmer Investment Management Inc.’s holdings in Truist Financial were worth $706,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of TFC. Bangor Savings Bank increased its stake in shares of 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 in the last quarter. Valley Wealth Managers Inc. bought a new position in Truist Financial in the 3rd quarter worth $26,000. MidAtlantic Capital Management Inc. purchased a new stake in Truist Financial in the 3rd quarter worth $32,000. Fortitude Family Office LLC lifted its position in shares of Truist Financial by 376.7% in the third quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock valued at $37,000 after acquiring an additional 678 shares in the last quarter. Finally, Ashton Thomas Securities LLC bought a new position in shares of Truist Financial in the third quarter worth about $45,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

TFC has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Barclays boosted their price target on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. UBS Group raised their price target on Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a report on Friday, October 18th. Compass Point increased their target price on Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Finally, StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. Eleven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Truist Financial has a consensus rating of “Moderate Buy” and a consensus price target of $50.79.

Truist Financial Stock Performance

Shares of TFC opened at $48.14 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The firm has a market cap of $63.90 billion, a PE ratio of 14.46, a P/E/G ratio of 1.69 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 fifty day moving average price of $45.52 and a 200-day moving average price of $44.20.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. The business 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%. The company’s revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.81 earnings per share. Equities research analysts predict that Truist Financial Co. will post 3.95 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a yield of 4.32%. Truist Financial’s dividend payout ratio is currently 62.46%.

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 dated Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total transaction of $229,429.20. Following the sale, the director now directly owns 11,246 shares in the company, valued at $519,565.20. This trade represents a 30.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William H. Rogers, Jr. purchased 34,180 shares of Truist Financial stock in a transaction that occurred on Monday, November 25th. The stock was acquired at an average cost of $48.56 per share, with a total value of $1,659,780.80. Following the acquisition, the chief executive officer now directly owns 691,451 shares in the company, valued at $33,576,860.56. This trade represents a 5.20 % increase in their position. The disclosure for this purchase 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.