Glass Wealth Management Co LLC Buys 5,900 Shares of Truist Financial Co. (NYSE:TFC)

Glass Wealth Management Co LLC boosted its position in shares of Truist Financial Co. (NYSE:TFC - Free Report) by 9.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 67,978 shares of the insurance provider's stock after purchasing an additional 5,900 shares during the quarter. Truist Financial comprises 1.6% of Glass Wealth Management Co LLC's holdings, making the stock its 20th biggest position. Glass Wealth Management Co LLC's holdings in Truist Financial were worth $2,949,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Thurston Springer Miller Herd & Titak Inc. lifted its stake in Truist Financial by 48.7% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,963 shares of the insurance provider's stock valued at $129,000 after buying an additional 971 shares during the period. Principal Financial Group Inc. raised its position in shares of Truist Financial by 3.5% in the 3rd quarter. Principal Financial Group Inc. now owns 1,511,299 shares of the insurance provider's stock valued at $64,638,000 after acquiring an additional 50,637 shares during the period. Cadence Bank boosted its stake in Truist Financial by 101.6% during the 3rd quarter. Cadence Bank now owns 185,184 shares of the insurance provider's stock worth $7,920,000 after acquiring an additional 93,322 shares during the last quarter. Country Club Bank grew its holdings in Truist Financial by 719.8% during the fourth quarter. Country Club Bank now owns 45,499 shares of the insurance provider's stock valued at $1,973,000 after purchasing an additional 39,949 shares during the period. Finally, David Wealth Management LLC bought a new stake in Truist Financial in the fourth quarter valued at approximately $2,354,000. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Stock Down 2.0 %

Shares of NYSE:TFC traded down $0.87 during trading on Thursday, hitting $42.24. 7,292,262 shares of the company were exchanged, compared to its average volume of 7,354,599. Truist Financial Co. has a fifty-two week low of $34.51 and a fifty-two week high of $49.06. The stock has a market cap of $55.13 billion, a price-to-earnings ratio of 12.68, a P/E/G ratio of 1.63 and a beta of 1.08. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The firm has a fifty day moving average price of $45.79 and a two-hundred day moving average price of $44.67.

Truist Financial (NYSE:TFC - Get Free Report) last issued its 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. 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 firm's revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.81 earnings per share. As a group, research analysts anticipate that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.92%. The ex-dividend date of this dividend was Friday, February 14th. Truist Financial's dividend payout ratio (DPR) is presently 62.46%.

Analyst Ratings Changes

TFC has been the subject of several research analyst reports. HSBC raised shares of Truist Financial from a "hold" rating to a "buy" rating and set a $50.00 price target for the company in a report on Tuesday, January 7th. Morgan Stanley increased their price target on Truist Financial from $55.00 to $56.00 and gave the stock an "equal weight" rating in a report on Tuesday, January 21st. Citigroup raised their price target on Truist Financial from $47.00 to $51.00 and gave the stock a "neutral" rating in a research report on Monday, November 25th. Piper Sandler boosted their price objective on Truist Financial from $46.00 to $51.00 and gave the company a "neutral" rating in a research report on Tuesday, December 3rd. Finally, Keefe, Bruyette & Woods raised their target price on shares of Truist Financial from $55.00 to $57.00 and gave the stock an "outperform" rating in a report on Tuesday, January 21st. Nine equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $51.16.

Truist Financial 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.