Alteri Wealth LLC purchased a new position in Truist Financial Co. (NYSE:TFC - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 14,489 shares of the insurance provider's stock, valued at approximately $629,000.
Other hedge funds have also recently bought and sold shares of the company. Bangor Savings Bank increased its position 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 buying an additional 272 shares in the last quarter. Hopwood Financial Services Inc. purchased a new position in Truist Financial during the 4th quarter valued at about $26,000. Navigoe LLC acquired a new position in Truist Financial during the fourth quarter worth about $26,000. Curio Wealth LLC purchased a new stake in shares of Truist Financial in the fourth quarter valued at about $45,000. Finally, City State Bank grew its position in shares of Truist Financial by 158.1% in the fourth quarter. City State Bank now owns 1,169 shares of the insurance provider's stock valued at $51,000 after purchasing an additional 716 shares during the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
TFC has been the subject of several research reports. HSBC upgraded Truist Financial from a "hold" rating to a "buy" rating and set a $50.00 price objective for the company in a research report on Tuesday, January 7th. Barclays reduced their price objective on Truist Financial from $51.00 to $47.00 and set an "equal weight" rating on the stock in a research report on Monday, April 21st. Robert W. Baird upgraded Truist Financial from a "neutral" rating to an "outperform" rating and lifted their price objective for the stock from $48.00 to $52.00 in a research report on Wednesday, March 5th. JPMorgan Chase & Co. reduced their target price on shares of Truist Financial from $48.00 to $42.00 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Truist Financial from $53.00 to $47.00 and set an "outperform" rating for the company in a report on Monday, April 21st. 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 issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $47.83.
View Our Latest Stock Report on Truist Financial
Truist Financial Price Performance
TFC stock opened at $39.45 on Friday. The company has a market cap of $51.50 billion, a PE ratio of 11.85, a price-to-earnings-growth ratio of 1.63 and a beta of 0.91. 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 stock has a 50-day moving average price of $39.48 and a two-hundred day moving average price of $43.45. Truist Financial Co. has a 12-month low of $33.56 and a 12-month high of $49.06.
Truist Financial (NYSE:TFC - Get Free Report) last issued its earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.87. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The business had revenue of $4.95 billion during the quarter, compared to analysts' expectations of $4.99 billion. During the same quarter in the previous year, the business earned $0.90 EPS. As a group, research analysts predict 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 will be paid on Monday, June 2nd. Stockholders of record on Friday, May 9th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.27%. The ex-dividend date is Friday, May 9th. Truist Financial's dividend payout ratio is presently 61.36%.
Truist Financial Company 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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