Kovitz Investment Group Partners LLC reduced its position in Truist Financial Co. (NYSE:TFC - Free Report) by 6.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 160,306 shares of the insurance provider's stock after selling 10,249 shares during the period. Kovitz Investment Group Partners LLC's holdings in Truist Financial were worth $6,954,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bangor Savings Bank raised 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 valued at $25,000 after acquiring an additional 272 shares in the last quarter. Hopwood Financial Services Inc. bought a new position in shares of Truist Financial during the 4th quarter valued at $26,000. Curio Wealth LLC acquired a new stake in shares of Truist Financial in the 4th quarter valued at $45,000. City State Bank boosted its holdings in Truist Financial by 158.1% in the fourth quarter. City State Bank now owns 1,169 shares of the insurance provider's stock worth $51,000 after purchasing an additional 716 shares in the last quarter. Finally, Brown Lisle Cummings Inc. acquired a new position in Truist Financial during the fourth quarter worth $55,000. 71.28% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of analysts have weighed in on TFC shares. Robert W. Baird raised Truist Financial from a "neutral" rating to an "outperform" rating and boosted their price target for the stock from $48.00 to $52.00 in a research report on Wednesday, March 5th. StockNews.com raised Truist Financial from a "sell" rating to a "hold" rating in a research report on Sunday, April 20th. Citigroup dropped their price target on shares of Truist Financial from $51.00 to $44.00 and set a "neutral" rating on the stock in a research report on Monday, March 24th. Argus set a $43.00 price objective on shares of Truist Financial in a report on Monday, April 21st. Finally, Wells Fargo & Company cut their target price on shares of Truist Financial from $52.00 to $50.00 and set an "overweight" rating for the company in a research report on Friday, March 28th. Nine investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Truist Financial presently has an average rating of "Moderate Buy" and a consensus price target of $47.83.
Get Our Latest Research Report on Truist Financial
Truist Financial Stock Down 0.6 %
Shares of TFC stock opened at $37.68 on Friday. The stock has a market cap of $49.19 billion, a P/E ratio of 11.32, a price-to-earnings-growth ratio of 1.63 and a beta of 0.91. 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 stock has a fifty day moving average price of $40.22 and a 200 day moving average price of $43.61. Truist Financial Co. has a one year low of $33.56 and a one year 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, meeting analysts' consensus estimates of $0.87. The business had revenue of $4.95 billion for the quarter, compared to analysts' expectations of $4.99 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. During the same quarter in the previous year, the firm posted $0.90 earnings per share. Analysts predict that Truist Financial Co. will post 4 earnings per share for the current year.
Truist Financial Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 5.52%. The ex-dividend date was Friday, February 14th. Truist Financial's dividend payout ratio is 61.36%.
Truist Financial Profile
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Free Report)
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.
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