Truist Financial Co. (NYSE:TFC) Position Raised by Victory Capital Management Inc.

Victory Capital Management Inc. increased its position in Truist Financial Co. (NYSE:TFC - Free Report) by 49.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 651,503 shares of the insurance provider's stock after buying an additional 216,956 shares during the period. Victory Capital Management Inc.'s holdings in Truist Financial were worth $28,262,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Bangor Savings Bank raised its holdings in Truist Financial by 92.5% in the 4th 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 last quarter. Valley Wealth Managers Inc. acquired a new position in Truist Financial in the third quarter valued at $26,000. MidAtlantic Capital Management Inc. purchased a new position in Truist Financial during the third quarter worth about $32,000. Ashton Thomas Securities LLC acquired a new stake in Truist Financial in the 3rd quarter worth about $45,000. Finally, True Wealth Design LLC purchased a new stake in Truist Financial in the 3rd quarter valued at about $51,000. Hedge funds and other institutional investors own 71.28% of the company's stock.

Truist Financial Stock Down 1.0 %

Shares of Truist Financial stock traded down $0.42 during trading on Tuesday, reaching $39.96. The company had a trading volume of 9,840,140 shares, compared to its average volume of 7,365,528. The company has a market cap of $52.16 billion, a price-to-earnings ratio of 12.00, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. Truist Financial Co. has a fifty-two week low of $34.51 and a fifty-two week high of $49.06. The firm's fifty day moving average is $45.67 and its 200-day moving average is $44.68. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83.

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Truist Financial (NYSE:TFC - Get Free Report) last released its earnings results 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 last year, the business posted $0.81 EPS. Truist Financial's quarterly revenue was up 3.4% compared to the same quarter last year. On average, analysts anticipate that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The firm also recently announced 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 payout ratio is 62.46%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on TFC shares. Compass Point boosted their target price on shares of Truist Financial from $47.00 to $56.00 and gave the company a "buy" rating in a report on Tuesday, December 10th. Citigroup boosted their price target on Truist Financial from $47.00 to $51.00 and gave the company a "neutral" rating in a research report on Monday, November 25th. Stephens raised their price objective on Truist Financial from $54.00 to $57.00 and gave the stock an "overweight" rating in a report on Tuesday, January 21st. Baird R W upgraded Truist Financial from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 5th. Finally, The Goldman Sachs Group increased their target price on shares of Truist Financial from $50.00 to $60.00 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. Nine equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Truist Financial currently has an average rating of "Moderate Buy" and an average target price of $51.16.

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.