Forum Financial Management LP Grows Position in Truist Financial Co. (NYSE:TFC)

Forum Financial Management LP increased its position in shares of Truist Financial Co. (NYSE:TFC - Free Report) by 81.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,886 shares of the insurance provider's stock after buying an additional 8,489 shares during the period. Forum Financial Management LP's holdings in Truist Financial were worth $819,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in TFC. Bangor Savings Bank lifted its holdings in Truist Financial by 92.5% in the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider's stock valued at $25,000 after acquiring an additional 272 shares during the period. Hopwood Financial Services Inc. acquired a new stake in Truist Financial in the 4th quarter worth about $26,000. Curio Wealth LLC purchased a new position in Truist Financial in the 4th quarter valued at $45,000. City State Bank boosted its position in Truist Financial by 158.1% during the fourth quarter. City State Bank now owns 1,169 shares of the insurance provider's stock worth $51,000 after acquiring an additional 716 shares during 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. Institutional investors own 71.28% of the company's stock.

Analysts Set New Price Targets

TFC has been the subject of several analyst reports. Raymond James lowered Truist Financial from an "outperform" rating to a "market perform" rating in a research report on Wednesday, April 2nd. HSBC upgraded Truist Financial from a "hold" rating to a "buy" rating and set a $50.00 price target on the stock in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods lowered their price objective on shares of Truist Financial from $53.00 to $47.00 and set an "outperform" rating on the stock in a research report on Monday. Argus set a $43.00 target price on Truist Financial in a research report on Monday. Finally, JPMorgan Chase & Co. decreased their price objective 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. Nine equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $47.83.

Truist Financial Stock Performance

Shares of NYSE:TFC traded up $0.06 during trading on Friday, hitting $37.96. The company's stock had a trading volume of 1,805,589 shares, compared to its average volume of 9,479,045. 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 50-day moving average of $40.41 and a 200-day moving average of $43.63. The firm has a market cap of $49.55 billion, a price-to-earnings ratio of 11.39, a P/E/G ratio of 1.63 and a beta of 0.91. Truist Financial Co. has a 12 month low of $33.56 and a 12 month high of $49.06.

Truist Financial (NYSE:TFC - Get Free Report) last posted its earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, hitting analysts' consensus estimates of $0.87. The firm had revenue of $4.95 billion for 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 period in the previous year, the firm posted $0.90 EPS. On average, sell-side analysts expect that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a dividend of $0.52 per share. The ex-dividend date was Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a yield of 5.48%. Truist Financial's payout ratio is 61.36%.

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.