Huber Capital Management LLC Buys 50,000 Shares of Truist Financial Co. (NYSE:TFC)

Huber Capital Management LLC grew its holdings in shares of Truist Financial Co. (NYSE:TFC - Free Report) by 38.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 181,464 shares of the insurance provider's stock after purchasing an additional 50,000 shares during the quarter. Truist Financial comprises approximately 1.6% of Huber Capital Management LLC's portfolio, making the stock its 26th biggest holding. Huber Capital Management LLC's holdings in Truist Financial were worth $7,872,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of TFC. Bangor Savings Bank raised its holdings in Truist Financial by 92.5% during the 4th 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. purchased a new stake in Truist Financial during the 4th quarter worth about $26,000. Curio Wealth LLC bought a new position in Truist Financial in the 4th quarter worth about $45,000. City State Bank increased its position in shares of Truist Financial by 158.1% during the fourth quarter. City State Bank now owns 1,169 shares of the insurance provider's stock valued at $51,000 after buying an additional 716 shares during the period. Finally, Brown Lisle Cummings Inc. purchased a new stake in shares of Truist Financial in the fourth quarter worth about $55,000. Institutional investors own 71.28% of the company's stock.

Truist Financial Stock Performance

TFC traded up $0.65 during mid-day trading on Tuesday, reaching $35.79. 6,897,709 shares of the company traded hands, compared to its average volume of 8,738,388. The stock has a market capitalization of $46.71 billion, a P/E ratio of 10.75, a P/E/G 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. 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's fifty day moving average price is $43.72 and its 200-day moving average price is $44.28.

Truist Financial (NYSE:TFC - Get Free Report) last announced its 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 return on equity of 9.32% and a net margin of 15.59%. The business's revenue for the quarter was up 3.4% on a year-over-year basis. During the same period last year, the firm posted $0.81 earnings per share. On average, sell-side analysts expect that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Announces Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 5.81%. The ex-dividend date of this dividend was Friday, February 14th. Truist Financial's dividend payout ratio is presently 62.46%.

Wall Street Analyst Weigh In

TFC has been the subject of several recent analyst reports. Raymond James lowered shares of Truist Financial from an "outperform" rating to a "market perform" rating in a report on Wednesday, April 2nd. JPMorgan Chase & Co. dropped their price objective on Truist Financial from $48.00 to $42.00 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. Wells Fargo & Company dropped their price objective on Truist Financial from $52.00 to $50.00 and set an "overweight" rating for the company in a report on Friday, March 28th. StockNews.com downgraded Truist Financial from a "hold" rating to a "sell" rating in a report on Thursday, April 3rd. Finally, Baird R W upgraded shares of Truist Financial from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $49.74.

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.