Truist Financial Co. (NYSE:TFC) Stock Holdings Lifted by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp raised its holdings in Truist Financial Co. (NYSE:TFC - Free Report) by 5.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 329,770 shares of the insurance provider's stock after buying an additional 17,968 shares during the quarter. Peapack Gladstone Financial Corp's holdings in Truist Financial were worth $14,305,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Janus Henderson Group PLC lifted its holdings in shares of Truist Financial by 7.5% during the 3rd quarter. Janus Henderson Group PLC now owns 176,817 shares of the insurance provider's stock valued at $7,558,000 after acquiring an additional 12,400 shares in the last quarter. Integrated Wealth Concepts LLC raised its position in Truist Financial by 43.2% in the third quarter. Integrated Wealth Concepts LLC now owns 34,490 shares of the insurance provider's stock valued at $1,475,000 after purchasing an additional 10,402 shares during the period. IHT Wealth Management LLC lifted its stake in shares of Truist Financial by 64.9% during the third quarter. IHT Wealth Management LLC now owns 15,448 shares of the insurance provider's stock worth $656,000 after purchasing an additional 6,080 shares in the last quarter. Quarry LP purchased a new stake in shares of Truist Financial in the third quarter worth about $109,000. Finally, Quantinno Capital Management LP grew its stake in shares of Truist Financial by 25.2% in the third quarter. Quantinno Capital Management LP now owns 72,647 shares of the insurance provider's stock valued at $3,107,000 after buying an additional 14,645 shares in the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Truist Financial Price Performance

Truist Financial stock traded down $0.34 during midday trading on Friday, hitting $35.30. The company's stock had a trading volume of 18,557,752 shares, compared to its average volume of 8,133,746. Truist Financial Co. has a 12 month low of $33.56 and a 12 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 $46.08 billion, a PE ratio of 10.60, a price-to-earnings-growth ratio of 1.63 and a beta of 0.91. The stock's 50-day moving average price is $42.36 and its 200-day moving average price is $44.00.

Truist Financial (NYSE:TFC - Get Free Report) last released its earnings results on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.88 by $0.03. The business had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.05 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The business's revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.81 EPS. Analysts anticipate that Truist Financial Co. will post 4 earnings per share for the current fiscal 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. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.89%. The ex-dividend date of this dividend was Friday, February 14th. Truist Financial's payout ratio is 62.46%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TFC. Citigroup decreased their price objective on shares of Truist Financial from $51.00 to $44.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. Barclays increased their target price on shares of Truist Financial from $47.00 to $51.00 and gave the stock an "equal weight" rating in a report on Monday, January 6th. Baird R W raised shares of Truist Financial from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 5th. Morgan Stanley dropped their price target on Truist Financial from $50.00 to $43.00 and set an "equal weight" rating on the stock in a research report on Monday, April 7th. Finally, Raymond James lowered Truist Financial from an "outperform" rating to a "market perform" rating in a research report on Wednesday, April 2nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $50.22.

Truist Financial Company 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.