SLT Holdings LLC purchased a new position in shares of Truist Financial Co. (NYSE:TFC - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 11,114 shares of the insurance provider's stock, valued at approximately $482,000.
A number of other hedge funds have also recently added to or reduced their stakes in TFC. Bangor Savings Bank lifted its stake 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 purchasing an additional 272 shares during the period. Valley Wealth Managers Inc. purchased a new position in Truist Financial in the third quarter valued at about $26,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Truist Financial during the 3rd quarter valued at approximately $32,000. Ashton Thomas Securities LLC acquired a new stake in shares of Truist Financial in the 3rd quarter worth approximately $45,000. Finally, True Wealth Design LLC acquired a new stake in shares of Truist Financial in the 3rd quarter worth approximately $51,000. Institutional investors and hedge funds own 71.28% of the company's stock.
Wall Street Analysts Forecast Growth
TFC has been the subject of several research reports. Morgan Stanley lifted their price objective on Truist Financial from $55.00 to $56.00 and gave the stock an "equal weight" rating in a report on Tuesday, January 21st. StockNews.com upgraded shares of Truist Financial from a "sell" rating to a "hold" rating in a research report on Friday, January 17th. Piper Sandler increased their price objective on shares of Truist Financial from $46.00 to $51.00 and gave the company a "neutral" rating in a research note on Tuesday, December 3rd. Raymond James lifted their target price on shares of Truist Financial from $47.00 to $51.00 and gave the stock an "overweight" rating in a research report on Thursday, January 16th. Finally, Stephens upped their price target on shares of Truist Financial from $54.00 to $57.00 and gave the company an "overweight" rating in a 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.
Get Our Latest Analysis on TFC
Truist Financial Trading Down 1.0 %
Shares of TFC stock traded down $0.42 during trading hours on Tuesday, hitting $39.96. 9,836,072 shares of the company were exchanged, compared to its average volume of 7,360,020. The firm has a fifty day moving average of $45.67 and a 200 day moving average of $44.68. 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 firm has a market cap of $52.16 billion, a PE ratio of 12.00, a PEG ratio of 1.63 and a beta of 1.08.
Truist Financial (NYSE:TFC - Get Free Report) last posted its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.88 by $0.03. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The company had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.05 billion. During the same quarter last year, the firm posted $0.81 earnings per share. Truist Financial's revenue was up 3.4% on a year-over-year basis. Analysts expect that Truist Financial Co. will post 4 earnings per share for the current year.
Truist Financial Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.08 annualized dividend and a yield of 5.21%. Truist Financial's dividend payout ratio is presently 62.46%.
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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