Aptus Capital Advisors LLC Acquires 6,678 Shares of Truist Financial Co. (NYSE:TFC)

Aptus Capital Advisors LLC grew its stake in shares of Truist Financial Co. (NYSE:TFC - Free Report) by 27.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 31,260 shares of the insurance provider's stock after purchasing an additional 6,678 shares during the period. Aptus Capital Advisors LLC's holdings in Truist Financial were worth $1,356,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of TFC. Capital International Investors grew its position in Truist Financial by 26.0% in the 4th quarter. Capital International Investors now owns 90,617,519 shares of the insurance provider's stock worth $3,930,983,000 after purchasing an additional 18,712,246 shares in the last quarter. Norges Bank purchased a new stake in shares of Truist Financial during the fourth quarter valued at approximately $402,828,000. FMR LLC lifted its holdings in Truist Financial by 109.1% during the fourth quarter. FMR LLC now owns 10,460,159 shares of the insurance provider's stock worth $453,762,000 after acquiring an additional 5,457,053 shares during the period. Raymond James Financial Inc. purchased a new position in Truist Financial in the fourth quarter worth $198,051,000. Finally, Northern Trust Corp grew its stake in Truist Financial by 20.5% in the 4th quarter. Northern Trust Corp now owns 14,434,173 shares of the insurance provider's stock valued at $626,154,000 after purchasing an additional 2,452,239 shares during the period. 71.28% of the stock is owned by hedge funds and other institutional investors.

Truist Financial Stock Down 0.3 %

Truist Financial stock opened at $39.34 on Tuesday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. The firm has a market cap of $51.52 billion, a P/E ratio of 11.81, a P/E/G ratio of 1.63 and a beta of 0.83. The business has a fifty day moving average of $39.36 and a two-hundred day moving average of $43.41. 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 quarterly earnings data on Thursday, April 17th. The insurance provider reported $0.87 EPS for the quarter, hitting the consensus estimate of $0.87. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. 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 posted $0.90 EPS. On average, analysts forecast that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Friday, May 9th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, May 9th. This represents a $2.08 dividend on an annualized basis and a yield of 5.29%. Truist Financial's dividend payout ratio is currently 61.36%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TFC. Raymond James downgraded shares of Truist Financial from an "outperform" rating to a "market perform" rating in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods lowered their target price on Truist Financial from $53.00 to $47.00 and set an "outperform" rating on the stock in a research note on Monday, April 21st. Baird R W upgraded Truist Financial from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 5th. Barclays lowered their price objective on Truist Financial from $51.00 to $47.00 and set an "equal weight" rating on the stock in a research note on Monday, April 21st. Finally, Hsbc Global Res upgraded shares of Truist Financial from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Truist Financial has an average rating of "Moderate Buy" and a consensus price target 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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