Legacy Financial Advisors Inc. lessened its holdings in Truist Financial Co. (NYSE:TFC - Free Report) by 53.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 39,739 shares of the insurance provider's stock after selling 46,136 shares during the period. Legacy Financial Advisors Inc.'s holdings in Truist Financial were worth $1,724,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Bangor Savings Bank grew its stake in shares of 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. acquired a new stake in shares of Truist Financial in the fourth quarter worth $26,000. Curio Wealth LLC acquired a new position in Truist Financial in the fourth quarter worth approximately $45,000. City State Bank raised its position in shares of Truist Financial by 158.1% in the fourth quarter. City State Bank now owns 1,169 shares of the insurance provider's stock valued at $51,000 after purchasing an additional 716 shares during the period. Finally, Brown Lisle Cummings Inc. bought a new position in Truist Financial in the 4th quarter worth approximately $55,000. Institutional investors and hedge funds own 71.28% of the company's stock.
Truist Financial Price Performance
Shares of NYSE TFC traded up $0.59 during mid-day trading on Tuesday, reaching $36.77. The company's stock had a trading volume of 4,453,915 shares, compared to its average volume of 8,137,261. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. The stock has a 50-day moving average of $42.13 and a two-hundred day moving average of $43.97. The stock has a market capitalization of $48.00 billion, a P/E ratio of 11.04, a P/E/G ratio of 1.63 and a beta of 0.91. Truist Financial Co. has a 1-year low of $33.56 and a 1-year high of $49.06.
Truist Financial (NYSE:TFC - Get Free Report) last released its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.03. The company had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. 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 EPS. On average, equities research analysts anticipate that Truist Financial Co. will post 4 EPS for the current fiscal year.
Truist Financial Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders 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 dividend yield of 5.66%. Truist Financial's payout ratio is 62.46%.
Analysts Set New Price Targets
Several brokerages recently issued reports on TFC. Wells Fargo & Company reduced their price target on shares of Truist Financial from $52.00 to $50.00 and set an "overweight" rating on the stock in a research report on Friday, March 28th. Morgan Stanley cut their price objective on Truist Financial from $50.00 to $43.00 and set an "equal weight" rating for the company in a research report on Monday, April 7th. Robert W. Baird upgraded Truist Financial from a "neutral" rating to an "outperform" rating and raised their price objective for the stock from $48.00 to $52.00 in a research note on Wednesday, March 5th. Hsbc Global Res raised Truist Financial from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 7th. Finally, HSBC raised Truist Financial from a "hold" rating to a "buy" rating and set a $50.00 target price for the company in a research note on Tuesday, January 7th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $50.22.
View Our Latest Stock Analysis on TFC
Truist Financial Profile
(
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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