Broyhill Asset Management Acquires Shares of 15,980 Truist Financial Co. (NYSE:TFC)

Broyhill Asset Management acquired a new stake in shares of Truist Financial Co. (NYSE:TFC - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,980 shares of the insurance provider's stock, valued at approximately $693,000.

Other hedge funds have also recently made changes to their positions in the company. PBMares Wealth Management LLC lifted its holdings in Truist Financial by 0.8% during the fourth quarter. PBMares Wealth Management LLC now owns 29,270 shares of the insurance provider's stock valued at $1,270,000 after purchasing an additional 224 shares during the last quarter. Koshinski Asset Management Inc. boosted its holdings 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 buying an additional 225 shares during the period. Aaron Wealth Advisors LLC grew 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 valued at $335,000 after buying an additional 227 shares in the last quarter. FWG Holdings LLC raised its holdings in Truist Financial by 4.3% during the 4th quarter. FWG Holdings LLC now owns 5,694 shares of the insurance provider's stock valued at $267,000 after acquiring an additional 234 shares during the period. Finally, Ignite Planners LLC lifted its position in shares of Truist Financial by 1.4% during the fourth quarter. Ignite Planners LLC now owns 17,499 shares of the insurance provider's stock worth $772,000 after acquiring an additional 246 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TFC has been the topic of a number of analyst reports. Barclays boosted their price objective on Truist Financial from $47.00 to $51.00 and gave the company an "equal weight" rating in a research note on Monday, January 6th. Baird R W upgraded shares of Truist Financial from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 5th. JPMorgan Chase & Co. lowered their target price on shares of Truist Financial from $48.00 to $42.00 and set a "neutral" rating on the stock in a research note on Thursday, April 3rd. Raymond James lowered shares of Truist Financial from an "outperform" rating to a "market perform" rating in a research report on Wednesday, April 2nd. Finally, Stephens lifted their price objective on Truist Financial from $54.00 to $57.00 and gave the company an "overweight" rating in a research note on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $50.22.

Truist Financial Trading Down 0.3 %

Truist Financial stock traded down $0.12 during trading hours on Friday, reaching $35.88. The stock had a trading volume of 15,140,727 shares, compared to its average volume of 8,169,325. 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 company has a fifty day simple moving average of $41.21 and a 200-day simple moving average of $43.78. The stock has a market cap of $46.83 billion, a PE ratio of 10.77, a PEG ratio of 1.63 and a beta of 0.91. Truist Financial Co. has a 52 week low of $33.56 and a 52 week high of $49.06.

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

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.80%. The ex-dividend date of this dividend was Friday, February 14th. Truist Financial's payout ratio 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.