Bridge Creek Capital Management LLC Has $3.37 Million Holdings in Truist Financial Co. (NYSE:TFC)

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Bridge Creek Capital Management LLC boosted its holdings in Truist Financial Co. (NYSE:TFC) by 2.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 88,595 shares of the insurance provider’s stock after buying an additional 2,191 shares during the quarter. Truist Financial makes up 1.6% of Bridge Creek Capital Management LLC’s holdings, making the stock its 29th biggest holding. Bridge Creek Capital Management LLC’s holdings in Truist Financial were worth $3,371,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. First Hawaiian Bank boosted its stake in shares of Truist Financial by 0.9% during the second quarter. First Hawaiian Bank now owns 29,459 shares of the insurance provider’s stock valued at $1,106,000 after purchasing an additional 270 shares in the last quarter. North Star Investment Management Corp. boosted its stake in shares of Truist Financial by 0.5% during the third quarter. North Star Investment Management Corp. now owns 54,992 shares of the insurance provider’s stock valued at $2,092,000 after purchasing an additional 274 shares in the last quarter. Pettyjohn Wood & White Inc. boosted its stake in shares of Truist Financial by 0.3% during the second quarter. Pettyjohn Wood & White Inc. now owns 86,135 shares of the insurance provider’s stock valued at $3,234,000 after purchasing an additional 278 shares in the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO boosted its stake in shares of Truist Financial by 1.2% during the third quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 24,903 shares of the insurance provider’s stock valued at $948,000 after purchasing an additional 303 shares in the last quarter. Finally, Thompson Investment Management Inc. boosted its stake in shares of Truist Financial by 1.2% during the second quarter. Thompson Investment Management Inc. now owns 26,268 shares of the insurance provider’s stock valued at $986,000 after purchasing an additional 315 shares in the last quarter. 73.36% of the stock is currently owned by institutional investors and hedge funds.

NYSE TFC traded down $0.46 during trading on Friday, reaching $41.65. The company’s stock had a trading volume of 4,698,737 shares, compared to its average volume of 6,596,836. The stock has a market capitalization of $56.13 billion, a PE ratio of 13.44, a P/E/G ratio of 1.46 and a beta of 1.41. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.95 and a quick ratio of 0.93. The firm has a fifty day moving average of $39.32 and a 200 day moving average of $37.10. Truist Financial Co. has a one year low of $24.01 and a one year high of $56.92.

Truist Financial (NYSE:TFC) last announced its earnings results on Thursday, October 15th. The insurance provider reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.09. The business had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.48 billion. Truist Financial had a return on equity of 8.07% and a net margin of 17.32%. The company’s quarterly revenue was up 85.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.95 EPS. Research analysts expect that Truist Financial Co. will post 3.18 earnings per share for the current fiscal year.

TFC has been the topic of a number of recent research reports. Royal Bank of Canada reissued a “buy” rating on shares of Truist Financial in a research note on Monday, July 6th. Zacks Investment Research raised Truist Financial from a “sell” rating to a “hold” rating and set a $40.00 price objective on the stock in a research note on Friday, August 21st. Argus lifted their price objective on Truist Financial from $45.00 to $48.00 in a research note on Friday. TheStreet raised Truist Financial from a “c+” rating to a “b-” rating in a research note on Thursday, October 8th. Finally, Bank of America cut their price objective on Truist Financial from $51.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday. Nine analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $44.68.

In other news, EVP David Hudson Weaver sold 7,416 shares of the stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $38.28, for a total transaction of $283,884.48. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Thomas Nichols Thompson acquired 6,000 shares of Truist Financial stock in a transaction dated Thursday, July 30th. The shares were purchased at an average price of $25.00 per share, for a total transaction of $150,000.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $250,000. The disclosure for this purchase can be found here. 0.35% of the stock is owned by corporate insiders.

Truist Financial Profile

Truist Financial Corporation, a holding company, provides banking and trust services for small and mid-size businesses, public agencies, local governments, corporations, and individuals 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.

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Institutional Ownership by Quarter for Truist Financial (NYSE:TFC)

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