Quantessence Capital LLC bought a new stake in Truist Financial Co. (NYSE:TFC - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 8,766 shares of the insurance provider's stock, valued at approximately $380,000.
Other institutional investors also recently bought and sold shares of the company. Bangor Savings Bank increased its position in shares of Truist Financial by 92.5% in 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 during the period. Hopwood Financial Services Inc. bought a new stake in shares of Truist Financial in the fourth quarter worth about $26,000. Curio Wealth LLC purchased a new position in Truist Financial during the 4th quarter valued at about $45,000. City State Bank raised its position in Truist Financial by 158.1% during the 4th 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 last quarter. Finally, Brown Lisle Cummings Inc. purchased a new stake in Truist Financial in the 4th quarter worth approximately $55,000. 71.28% of the stock is currently owned by hedge funds and other institutional investors.
Truist Financial Stock Performance
Shares of Truist Financial stock opened at $36.34 on Wednesday. The stock has a market cap of $47.44 billion, a price-to-earnings ratio of 10.91, a PEG 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. Truist Financial Co. has a 1 year low of $33.56 and a 1 year high of $49.06. The firm's 50-day moving average is $40.79 and its 200 day moving average is $43.71.
Truist Financial (NYSE:TFC - Get Free Report) last issued its earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.87. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The firm had revenue of $4.95 billion for the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter in the prior year, the firm posted $0.90 earnings per share. Sell-side analysts anticipate that Truist Financial Co. will post 4 EPS for the current fiscal year.
Truist Financial Dividend Announcement
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 $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 5.72%. The ex-dividend date was Friday, February 14th. Truist Financial's dividend payout ratio is currently 61.36%.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on TFC shares. JPMorgan Chase & Co. reduced their target price on Truist Financial from $48.00 to $42.00 and set a "neutral" rating on the stock in a research note on Thursday, April 3rd. Baird R W raised shares of Truist Financial from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 5th. Piper Sandler dropped their target price on shares of Truist Financial from $45.00 to $41.00 and set a "neutral" rating for the company in a research report on Monday. HSBC raised shares of Truist Financial from a "hold" rating to a "buy" rating and set a $50.00 target price on the stock in a research note on Tuesday, January 7th. Finally, Citigroup decreased their price target on shares of Truist Financial from $51.00 to $44.00 and set a "neutral" rating for the company in a research note on Monday, March 24th. Nine investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $47.83.
Check Out Our Latest Stock Analysis on Truist Financial
Truist Financial Company 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.
See Also
Want to see what other hedge funds are holding TFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Truist Financial Co. (NYSE:TFC - Free Report).
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