Riverbend Wealth Management LLC bought a new stake in shares of Truist Financial Co. (NYSE:TFC - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The firm bought 14,624 shares of the insurance provider's stock, valued at approximately $634,000.
Several other hedge funds have also modified their holdings of the stock. Davis R M Inc. raised its holdings in shares of Truist Financial by 20.8% during the 4th quarter. Davis R M Inc. now owns 6,036 shares of the insurance provider's stock valued at $262,000 after buying an additional 1,038 shares during the period. Independent Advisor Alliance increased its holdings in Truist Financial by 7.8% during the 4th quarter. Independent Advisor Alliance now owns 304,742 shares of the insurance provider's stock worth $13,220,000 after purchasing an additional 22,135 shares during the last quarter. Johnson Investment Counsel Inc. increased its holdings in Truist Financial by 74.1% during the 4th quarter. Johnson Investment Counsel Inc. now owns 13,276 shares of the insurance provider's stock worth $576,000 after purchasing an additional 5,650 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in Truist Financial by 7.4% during the 4th quarter. Daiwa Securities Group Inc. now owns 175,396 shares of the insurance provider's stock worth $7,609,000 after purchasing an additional 12,023 shares during the last quarter. Finally, FWG Holdings LLC increased its holdings in Truist Financial by 4.3% during the 4th quarter. FWG Holdings LLC now owns 5,694 shares of the insurance provider's stock worth $267,000 after purchasing an additional 234 shares during the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.
Truist Financial Stock Performance
TFC stock traded down $0.42 during trading on Tuesday, reaching $39.96. 9,840,140 shares of the company's stock were exchanged, compared to its average volume of 7,365,528. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. Truist Financial Co. has a 1-year low of $34.51 and a 1-year high of $49.06. The company's fifty day moving average price is $45.60 and its 200-day moving average price is $44.65. The firm has a market cap of $52.16 billion, a PE ratio of 12.00, a P/E/G ratio of 1.63 and a beta of 1.08.
Truist Financial (NYSE:TFC - Get Free Report) last posted its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.88 by $0.03. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The company had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.05 billion. During the same quarter in the previous year, the business earned $0.81 EPS. The company's quarterly revenue was up 3.4% compared to the same quarter last year. On average, research analysts expect that Truist Financial Co. will post 4 EPS for the current fiscal year.
Truist Financial Dividend Announcement
The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 5.21%. The ex-dividend date was Friday, February 14th. Truist Financial's dividend payout ratio is presently 62.46%.
Analyst Upgrades and Downgrades
TFC has been the topic of several analyst reports. Citigroup lifted their price objective on Truist Financial from $47.00 to $51.00 and gave the stock a "neutral" rating in a report on Monday, November 25th. Raymond James lifted their price objective on Truist Financial from $47.00 to $51.00 and gave the stock an "overweight" rating in a report on Thursday, January 16th. Wells Fargo & Company lifted their price objective on Truist Financial from $48.00 to $52.00 and gave the stock an "overweight" rating in a report on Friday, November 15th. Hsbc Global Res upgraded Truist Financial from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 7th. Finally, Stephens lifted their target price on Truist Financial from $54.00 to $57.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 21st. Nine analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Truist Financial presently has an average rating of "Moderate Buy" and an average target price of $51.16.
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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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