Davis Selected Advisers Increases Holdings in Truist Financial Co. (NYSE:TFC)

Davis Selected Advisers raised its position in Truist Financial Co. (NYSE:TFC - Free Report) by 5.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 145,379 shares of the insurance provider's stock after purchasing an additional 8,141 shares during the period. Davis Selected Advisers' holdings in Truist Financial were worth $6,307,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. increased its stake in Truist Financial by 48.7% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,963 shares of the insurance provider's stock worth $129,000 after acquiring an additional 971 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Truist Financial by 3.5% in the 3rd quarter. Principal Financial Group Inc. now owns 1,511,299 shares of the insurance provider's stock worth $64,638,000 after buying an additional 50,637 shares during the last quarter. Cadence Bank raised its position in shares of Truist Financial by 101.6% during the 3rd quarter. Cadence Bank now owns 185,184 shares of the insurance provider's stock valued at $7,920,000 after buying an additional 93,322 shares in the last quarter. Country Club Bank grew its position in Truist Financial by 719.8% in the fourth quarter. Country Club Bank now owns 45,499 shares of the insurance provider's stock worth $1,973,000 after acquiring an additional 39,949 shares in the last quarter. Finally, David Wealth Management LLC purchased a new stake in Truist Financial during the fourth quarter valued at about $2,354,000. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

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Truist Financial Stock Down 0.6 %

Truist Financial stock traded down $0.26 during trading hours on Tuesday, hitting $40.11. The stock had a trading volume of 3,084,752 shares, compared to its average volume of 7,334,413. The stock's 50-day moving average price is $45.67 and its 200-day moving average price is $44.68. 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 stock has a market capitalization of $52.36 billion, a P/E ratio of 12.03, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08.

Truist Financial (NYSE:TFC - Get Free Report) last released its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.03. The business had revenue of $5.11 billion for the quarter, compared to analysts' expectations of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. 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 posted $0.81 EPS. Equities research analysts anticipate that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 5.19%. The ex-dividend date of this dividend was Friday, February 14th. Truist Financial's dividend payout ratio (DPR) is 62.46%.

Analyst Ratings Changes

TFC has been the subject of several recent research reports. Robert W. Baird upgraded Truist Financial from a "neutral" rating to an "outperform" rating and boosted their price objective for the company from $48.00 to $52.00 in a research report on Wednesday, March 5th. StockNews.com raised shares of Truist Financial from a "sell" rating to a "hold" rating in a report on Friday, January 17th. Baird R W raised shares of Truist Financial from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 5th. Stephens upped their target price on Truist Financial from $54.00 to $57.00 and gave the company an "overweight" rating in a report on Tuesday, January 21st. Finally, Keefe, Bruyette & Woods lifted their price target 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. Nine research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $51.16.

Truist Financial 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.