3Chopt Investment Partners LLC Purchases New Shares in Truist Financial Co. (NYSE:TFC)

3Chopt Investment Partners LLC purchased a new position in shares of Truist Financial Co. (NYSE:TFC - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 11,633 shares of the insurance provider's stock, valued at approximately $505,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Bangor Savings Bank lifted its holdings in shares of Truist Financial by 92.5% in the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider's stock valued at $25,000 after purchasing an additional 272 shares during the last quarter. Hopwood Financial Services Inc. purchased a new position in shares of Truist Financial in the 4th quarter valued at about $26,000. Curio Wealth LLC acquired a new position in Truist Financial during the fourth quarter worth $45,000. City State Bank boosted its position in shares of Truist Financial by 158.1% in the 4th quarter. City State Bank now owns 1,169 shares of the insurance provider's stock worth $51,000 after buying an additional 716 shares in the last quarter. Finally, Brown Lisle Cummings Inc. acquired a new stake in shares of Truist Financial in the fourth quarter valued at approximately $55,000. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on TFC shares. StockNews.com downgraded shares of Truist Financial from a "hold" rating to a "sell" rating in a research note on Saturday, April 12th. JPMorgan Chase & Co. decreased their price target on shares of Truist Financial from $48.00 to $42.00 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. Robert W. Baird upgraded Truist Financial from a "neutral" rating to an "outperform" rating and boosted their price objective for the stock from $48.00 to $52.00 in a research note on Wednesday, March 5th. Barclays upped their target price on 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 objective for the company in a research report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $50.22.

Truist Financial Stock Down 0.3 %

Truist Financial stock traded down $0.12 during midday trading on Friday, reaching $35.88. The stock had a trading volume of 15,140,727 shares, compared to its average volume of 8,159,708. The stock has a market capitalization of $46.83 billion, a P/E ratio of 10.77, a price-to-earnings-growth ratio of 1.63 and a beta of 0.91. Truist Financial Co. has a 1-year low of $33.56 and a 1-year high of $49.06. The firm's fifty day simple moving average is $41.44 and its 200-day simple moving average is $43.82. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83.

Truist Financial (NYSE:TFC - Get Free Report) last released its earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, meeting analysts' consensus estimates of $0.87. The business had revenue of $4.95 billion during the quarter, compared to the consensus estimate of $4.99 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. During the same quarter last year, the firm earned $0.90 earnings per share. As a group, analysts expect that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 5.80%. The ex-dividend date was Friday, February 14th. Truist Financial's dividend payout ratio (DPR) is presently 62.46%.

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.