SBI Securities Co. Ltd. acquired a new position in shares of Truist Financial Co. (NYSE:TFC – Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,403 shares of the insurance provider’s stock, valued at approximately $104,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of TFC. Tradewinds LLC. increased its stake in shares of Truist Financial by 0.5% during the third quarter. Tradewinds LLC. now owns 44,513 shares of the insurance provider’s stock valued at $1,904,000 after acquiring an additional 222 shares during the period. PBMares Wealth Management LLC boosted its stake in Truist Financial by 0.8% in the 4th quarter. PBMares Wealth Management LLC now owns 29,270 shares of the insurance provider’s stock worth $1,270,000 after purchasing an additional 224 shares during the period. Koshinski Asset Management Inc. boosted its stake in Truist Financial by 2.1% in the 4th quarter. Koshinski Asset Management Inc. now owns 10,825 shares of the insurance provider’s stock worth $470,000 after purchasing an additional 225 shares during the period. Aaron Wealth Advisors LLC boosted its stake in Truist Financial by 3.0% in the 4th quarter. Aaron Wealth Advisors LLC now owns 7,712 shares of the insurance provider’s stock worth $335,000 after purchasing an additional 227 shares during the period. Finally, Ignite Planners LLC boosted its stake in shares of Truist Financial by 1.4% during the 4th quarter. Ignite Planners LLC now owns 17,499 shares of the insurance provider’s stock valued at $772,000 after buying an additional 246 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on TFC. Robert W. Baird raised shares of Truist Financial from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $48.00 to $52.00 in a research note on Wednesday. Hsbc Global Res upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Piper Sandler lifted their target price on shares of Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Barclays raised 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 report on Monday, January 6th. Finally, HSBC upgraded shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Tuesday, January 7th. Nine equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Truist Financial has a consensus rating of “Moderate Buy” and an average target price of $51.16.
Check Out Our Latest Report on Truist Financial
Truist Financial Price Performance
NYSE:TFC opened at $42.25 on Friday. The firm has a market cap of $55.15 billion, a PE ratio of 12.69, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. Truist Financial Co. has a 12 month low of $34.51 and a 12 month high of $49.06. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. The company’s 50-day moving average price is $45.73 and its two-hundred day moving average price is $44.67.
Truist Financial (NYSE:TFC – Get Free Report) last announced its 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. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The company had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.05 billion. During the same period in the previous year, the firm posted $0.81 earnings per share. The company’s revenue was up 3.4% on a year-over-year basis. On average, equities analysts anticipate that Truist Financial Co. will post 4 EPS for the current fiscal year.
Truist Financial Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.92%. The ex-dividend date was Friday, February 14th. Truist Financial’s dividend payout ratio is presently 62.46%.
Truist Financial Company Profile
(Free Report)
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.
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