Versant Capital Management Inc Has $57,000 Stock Holdings in Truist Financial Co. (NYSE:TFC)

Versant Capital Management Inc lifted its position in shares of Truist Financial Co. (NYSE:TFC) by 56.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,313 shares of the insurance provider’s stock after buying an additional 472 shares during the quarter. Versant Capital Management Inc’s holdings in Truist Financial were worth $57,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of TFC. State Street Corp boosted its holdings in Truist Financial by 4.6% in the 3rd quarter. State Street Corp now owns 61,864,957 shares of the insurance provider’s stock valued at $2,645,964,000 after purchasing an additional 2,720,223 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Truist Financial by 316.4% in the third quarter. Assenagon Asset Management S.A. now owns 2,117,950 shares of the insurance provider’s stock valued at $90,585,000 after buying an additional 1,609,351 shares during the period. HighTower Advisors LLC lifted its position in Truist Financial by 26.1% during the third quarter. HighTower Advisors LLC now owns 3,901,891 shares of the insurance provider’s stock worth $166,892,000 after purchasing an additional 807,648 shares during the period. LPL Financial LLC grew its stake in Truist Financial by 21.0% during the third quarter. LPL Financial LLC now owns 3,630,761 shares of the insurance provider’s stock worth $155,288,000 after buying an additional 630,628 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec bought a new position in Truist Financial in the 3rd quarter valued at about $26,087,000. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on TFC shares. Wells Fargo & Company increased their price target on shares of Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. The Goldman Sachs Group raised their target price on Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. UBS Group upped their price objective on Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Compass Point lifted 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, Citigroup increased their target price on shares of Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a report on Monday, November 25th. Twelve analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $49.17.

Insider Activity at Truist Financial

In other news, Director K. David Jr. Boyer sold 4,966 shares of the business’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 transaction of $229,429.20. Following the completion of the sale, the director now owns 11,246 shares in the company, valued at $519,565.20. The trade was 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 hyperlink. Also, CEO William H. Rogers, Jr. bought 34,180 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were acquired at an average cost of $48.56 per share, with a total value of $1,659,780.80. Following the completion of the transaction, the chief executive officer now owns 691,451 shares of the company’s stock, valued at $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 company insiders.

Truist Financial Trading Up 1.8 %

NYSE TFC opened at $44.10 on Monday. Truist Financial Co. has a 12 month low of $34.23 and a 12 month high of $49.06. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $58.54 billion, a PE ratio of -30.84, a price-to-earnings-growth ratio of 1.88 and a beta of 1.06. The business’s 50-day moving average price is $45.30 and its two-hundred day moving average price is $43.14.

Truist Financial (NYSE:TFC) last released its earnings results on Thursday, October 17th. The insurance provider reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.08. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. The business had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $5.05 billion. On average, analysts expect that Truist Financial Co. will post 3.7 EPS for the current year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 8th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.72%. The ex-dividend date of this dividend was Friday, November 8th. Truist Financial’s dividend payout ratio is presently -145.45%.

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.