HUB Investment Partners LLC Acquires Shares of 7,391 Truist Financial Co. (NYSE:TFC)

HUB Investment Partners LLC acquired a new position in Truist Financial Co. (NYSE:TFC - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 7,391 shares of the insurance provider's stock, valued at approximately $321,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. PBMares Wealth Management LLC boosted its holdings in shares of Truist Financial by 0.8% in the 4th quarter. PBMares Wealth Management LLC now owns 29,270 shares of the insurance provider's stock valued at $1,270,000 after acquiring an additional 224 shares during the last quarter. Koshinski Asset Management Inc. lifted its position in Truist Financial by 2.1% during the fourth quarter. Koshinski Asset Management Inc. now owns 10,825 shares of the insurance provider's stock valued at $470,000 after purchasing an additional 225 shares during the period. Aaron Wealth Advisors LLC boosted its holdings in Truist Financial by 3.0% in the fourth quarter. Aaron Wealth Advisors LLC now owns 7,712 shares of the insurance provider's stock valued at $335,000 after purchasing an additional 227 shares during the last quarter. FWG Holdings LLC grew its position in Truist Financial by 4.3% during the 4th quarter. FWG Holdings LLC now owns 5,694 shares of the insurance provider's stock worth $267,000 after purchasing an additional 234 shares during the period. Finally, Ignite Planners LLC raised its stake in shares of Truist Financial by 1.4% during the 4th quarter. Ignite Planners LLC now owns 17,499 shares of the insurance provider's stock valued at $772,000 after buying an additional 246 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company's stock.

Truist Financial Trading Down 0.1 %

NYSE:TFC traded down $0.03 during trading hours on Wednesday, reaching $41.97. 6,176,873 shares of the stock were exchanged, compared to its average volume of 7,385,127. The business has a 50-day moving average of $45.06 and a two-hundred day moving average of $44.45. Truist Financial Co. has a twelve month low of $35.09 and a twelve 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 company has a market capitalization of $54.79 billion, a price-to-earnings ratio of 12.60, a PEG ratio of 1.63 and a beta of 1.08.

Truist Financial (NYSE:TFC - Get Free Report) last issued its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping 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 net margin of 15.59% and a return on equity of 9.32%. The business's quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.81 earnings per share. On average, equities analysts predict that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a $0.52 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a yield of 4.96%. Truist Financial's dividend payout ratio (DPR) is presently 62.46%.

Wall Street Analyst Weigh In

Several research firms recently commented on TFC. Keefe, Bruyette & Woods raised their target price on Truist Financial from $55.00 to $57.00 and gave the stock an "outperform" rating in a report on Tuesday, January 21st. Morgan Stanley raised their price target on shares of Truist Financial from $55.00 to $56.00 and gave the company an "equal weight" rating in a research note on Tuesday, January 21st. Barclays raised their target price on Truist Financial from $47.00 to $51.00 and gave the company an "equal weight" rating in a research report on Monday, January 6th. Piper Sandler increased their price objective on Truist Financial from $46.00 to $51.00 and gave the company a "neutral" rating in a research note on Tuesday, December 3rd. Finally, HSBC raised shares of Truist Financial from a "hold" rating to a "buy" rating and set a $50.00 target price on the stock in a research note on Tuesday, January 7th. Nine equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Truist Financial currently has a consensus rating of "Moderate Buy" and a consensus price target of $50.79.

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.