Algebris UK Ltd Invests $13.39 Million in Truist Financial Co. (NYSE:TFC)

Algebris UK Ltd purchased a new position in Truist Financial Co. (NYSE:TFC - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 319,581 shares of the insurance provider's stock, valued at approximately $13,389,000. Truist Financial makes up about 3.4% of Algebris UK Ltd's holdings, making the stock its 12th largest position.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Harbour Investments Inc. increased its position in shares of Truist Financial by 14.2% during the third quarter. Harbour Investments Inc. now owns 4,313 shares of the insurance provider's stock valued at $184,000 after acquiring an additional 537 shares during the last quarter. Natixis Advisors LLC increased its position in shares of Truist Financial by 7.3% during the third quarter. Natixis Advisors LLC now owns 451,576 shares of the insurance provider's stock valued at $19,314,000 after acquiring an additional 30,626 shares during the last quarter. Thrivent Financial for Lutherans increased its position in shares of Truist Financial by 17.6% during the third quarter. Thrivent Financial for Lutherans now owns 82,255 shares of the insurance provider's stock valued at $3,518,000 after acquiring an additional 12,300 shares during the last quarter. Quest Partners LLC increased its position in shares of Truist Financial by 81.1% during the third quarter. Quest Partners LLC now owns 4,754 shares of the insurance provider's stock valued at $203,000 after acquiring an additional 2,129 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC increased its position in shares of Truist Financial by 24.0% during the third quarter. Cassaday & Co Wealth Management LLC now owns 13,530 shares of the insurance provider's stock valued at $579,000 after acquiring an additional 2,617 shares during the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

A number of research analysts recently weighed in on TFC shares. Keefe, Bruyette & Woods lifted their price objective on shares of Truist Financial from $55.00 to $57.00 and gave the company an "outperform" rating in a report on Tuesday, January 21st. StockNews.com upgraded shares of Truist Financial from a "sell" rating to a "hold" rating in a research note on Friday, January 17th. Compass Point lifted their price target on shares of Truist Financial from $47.00 to $56.00 and gave the stock a "buy" rating in a research note on Tuesday, December 10th. Robert W. Baird upgraded shares of Truist Financial from a "neutral" rating to an "outperform" rating and lifted their price target for the stock from $48.00 to $52.00 in a research note on Wednesday, March 5th. Finally, Baird R W upgraded shares of Truist Financial from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 5th. 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. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $51.16.

Truist Financial Trading Up 0.2 %

NYSE:TFC traded up $0.08 on Friday, reaching $41.41. The stock had a trading volume of 16,828,774 shares, compared to its average volume of 7,377,144. The company has a market cap of $54.05 billion, a price-to-earnings ratio of 12.43, a P/E/G ratio of 1.63 and a beta of 1.08. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. The firm's fifty day moving average is $45.12 and its two-hundred day moving average is $44.46. Truist Financial Co. has a 12-month low of $35.09 and a 12-month high of $49.06.

Truist Financial (NYSE:TFC - Get Free Report) last released its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.88 by $0.03. The company had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The firm's quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.81 EPS. Equities analysts expect that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a yield of 5.02%. Truist Financial's dividend payout ratio (DPR) is 62.46%.

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.