Truist Financial Co. (NYSE:TFC) Shares Bought by Independent Advisor Alliance

Independent Advisor Alliance raised its holdings in Truist Financial Co. (NYSE:TFC - Free Report) by 7.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 304,742 shares of the insurance provider's stock after purchasing an additional 22,135 shares during the quarter. Independent Advisor Alliance's holdings in Truist Financial were worth $13,220,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Bangor Savings Bank grew its position in Truist Financial by 92.5% during the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider's stock worth $25,000 after buying an additional 272 shares during the period. Valley Wealth Managers Inc. purchased a new stake in Truist Financial during the third quarter worth $26,000. MidAtlantic Capital Management Inc. acquired a new stake in Truist Financial in the third quarter valued at $32,000. Ashton Thomas Securities LLC purchased a new position in shares of Truist Financial in the third quarter valued at $45,000. Finally, City State Bank raised its stake in shares of Truist Financial by 158.1% during the 4th quarter. City State Bank now owns 1,169 shares of the insurance provider's stock worth $51,000 after buying an additional 716 shares during the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Trading Down 1.0 %

Shares of Truist Financial stock traded down $0.42 during trading hours on Tuesday, reaching $39.96. The stock had a trading volume of 9,840,140 shares, compared to its average volume of 7,365,528. The firm has a market capitalization of $52.16 billion, a price-to-earnings ratio of 12.00, a P/E/G ratio of 1.63 and a beta of 1.08. Truist Financial Co. has a 1 year low of $34.51 and a 1 year high of $49.06. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The firm has a 50 day simple moving average of $45.60 and a two-hundred day simple moving average of $44.65.

Remove Ads

Truist Financial (NYSE:TFC - Get Free Report) last announced its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates of $0.88 by $0.03. The firm 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%. Truist Financial's revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.81 earnings per share. As a group, equities research analysts anticipate 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. Investors of record on Friday, February 14th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 5.21%. The ex-dividend date of this dividend was Friday, February 14th. Truist Financial's dividend payout ratio (DPR) is presently 62.46%.

Analysts Set New Price Targets

TFC has been the subject of several recent research reports. The Goldman Sachs Group raised their target price on shares of Truist Financial from $50.00 to $60.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. Citigroup raised their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the stock a "neutral" rating in a research note on Monday, November 25th. Piper Sandler upped their target price on Truist Financial from $46.00 to $51.00 and gave the company a "neutral" rating in a research note on Tuesday, December 3rd. Morgan Stanley raised their price target on Truist Financial from $55.00 to $56.00 and gave the stock an "equal weight" rating in a research report on Tuesday, January 21st. Finally, Hsbc Global Res raised Truist Financial from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 7th. Nine equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus 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.