Truist Financial Co. (NYSE:TFC) Shares Purchased by Prosperity Consulting Group LLC

Prosperity Consulting Group LLC lifted its holdings in Truist Financial Co. (NYSE:TFC - Free Report) by 150.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,023 shares of the insurance provider's stock after purchasing an additional 7,814 shares during the quarter. Prosperity Consulting Group LLC's holdings in Truist Financial were worth $565,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Bangor Savings Bank boosted its position in shares of Truist Financial by 92.5% in the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider's stock worth $25,000 after purchasing an additional 272 shares in the last quarter. Hopwood Financial Services Inc. acquired a new stake in shares of Truist Financial in the 4th quarter worth $26,000. Curio Wealth LLC acquired a new stake in shares of Truist Financial in the 4th quarter worth $45,000. City State Bank boosted its position in shares of Truist Financial by 158.1% in the 4th quarter. City State Bank now owns 1,169 shares of the insurance provider's stock worth $51,000 after purchasing an additional 716 shares in the last quarter. Finally, Brown Lisle Cummings Inc. acquired a new stake in shares of Truist Financial in the 4th quarter worth $55,000. Institutional investors and hedge funds own 71.28% of the company's stock.

Truist Financial Price Performance

Shares of Truist Financial stock opened at $37.68 on Monday. 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 twelve month low of $33.56 and a twelve month high of $49.06. The business has a 50-day moving average price of $40.22 and a 200 day moving average price of $43.62. The firm has a market cap of $49.19 billion, a PE ratio of 11.32, a P/E/G ratio of 1.63 and a beta of 0.91.

Truist Financial (NYSE:TFC - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, meeting the consensus estimate of $0.87. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The firm had revenue of $4.95 billion during the quarter, compared to analyst estimates of $4.99 billion. During the same quarter in the previous year, the business earned $0.90 EPS. Sell-side analysts predict 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. Investors of record on Friday, February 14th were paid a $0.52 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.08 annualized dividend and a dividend yield of 5.52%. Truist Financial's dividend payout ratio is presently 61.36%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Robert W. Baird upgraded Truist Financial from a "neutral" rating to an "outperform" rating and raised their target price for the stock from $48.00 to $52.00 in a research note on Wednesday, March 5th. Morgan Stanley reduced their target price on Truist Financial from $50.00 to $43.00 and set an "equal weight" rating for the company in a research note on Monday, April 7th. JPMorgan Chase & Co. reduced their target price on Truist Financial from $48.00 to $42.00 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. Raymond James lowered Truist Financial from an "outperform" rating to a "market perform" rating in a research note on Wednesday, April 2nd. Finally, HSBC upgraded Truist Financial from a "hold" rating to a "buy" rating and set a $50.00 target price for the company in a research note on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $47.83.

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.

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