Wedbush Securities Inc. Makes New $498,000 Investment in Truist Financial Co. (NYSE:TFC)

Wedbush Securities Inc. purchased a new stake in shares of Truist Financial Co. (NYSE:TFC - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 11,475 shares of the insurance provider's stock, valued at approximately $498,000.

Several other large investors have also recently added to or reduced their stakes in TFC. PBMares Wealth Management LLC grew its stake in Truist Financial by 0.8% during the 4th quarter. PBMares Wealth Management LLC now owns 29,270 shares of the insurance provider's stock worth $1,270,000 after buying an additional 224 shares during the last quarter. Koshinski Asset Management Inc. boosted its stake in Truist Financial by 2.1% during the 4th quarter. Koshinski Asset Management Inc. now owns 10,825 shares of the insurance provider's stock valued at $470,000 after purchasing an additional 225 shares during the period. Aaron Wealth Advisors LLC boosted its stake in Truist Financial by 3.0% during the 4th quarter. Aaron Wealth Advisors LLC now owns 7,712 shares of the insurance provider's stock valued at $335,000 after purchasing an additional 227 shares during the period. FWG Holdings LLC grew its position in Truist Financial by 4.3% in 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. Finally, Ignite Planners LLC boosted its position in shares of Truist Financial by 1.4% during the fourth quarter. Ignite Planners LLC now owns 17,499 shares of the insurance provider's stock worth $772,000 after buying an additional 246 shares during the period. 71.28% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on TFC shares. HSBC raised Truist Financial from a "hold" rating to a "buy" rating and set a $50.00 target price on the stock in a research note on Tuesday, January 7th. Robert W. Baird raised Truist Financial from a "neutral" rating to an "outperform" rating and raised their target price for the company from $48.00 to $52.00 in a research note on Wednesday, March 5th. Baird R W raised shares of Truist Financial from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 5th. Citigroup lowered their price objective on shares of Truist Financial from $51.00 to $44.00 and set a "neutral" rating on the stock in a research note on Monday, March 24th. Finally, Hsbc Global Res raised shares of Truist Financial from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Truist Financial currently has a consensus rating of "Moderate Buy" and a consensus price target of $50.22.

Truist Financial Stock Up 1.9 %

Shares of TFC traded up $0.69 during mid-day trading on Monday, hitting $36.08. 2,253,842 shares of the company's stock were exchanged, compared to its average volume of 9,393,642. The stock has a market cap of $47.10 billion, a price-to-earnings ratio of 10.83, a P/E/G ratio of 1.63 and a beta of 0.91. The firm has a fifty day moving average of $42.36 and a two-hundred day moving average of $44.02. 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.

Truist Financial (NYSE:TFC - Get Free Report) last posted its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.03. The company had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The business's revenue was up 3.4% compared to the same quarter last year. During the same period last year, the company earned $0.81 earnings per share. On average, sell-side analysts forecast 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. Stockholders of record on Friday, February 14th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.76%. The ex-dividend date was Friday, February 14th. Truist Financial's dividend payout ratio is 62.46%.

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.