California State Teachers Retirement System decreased its position in shares of Truist Financial Co. (NYSE:TFC - Free Report) by 5.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,054,041 shares of the insurance provider's stock after selling 113,481 shares during the period. California State Teachers Retirement System owned 0.16% of Truist Financial worth $89,104,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bangor Savings Bank raised its position 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 purchasing an additional 272 shares during the last quarter. Hopwood Financial Services Inc. purchased a new stake in shares of Truist Financial in the fourth quarter valued at about $26,000. Curio Wealth LLC acquired a new stake in shares of Truist Financial during the fourth quarter worth about $45,000. City State Bank raised its stake in Truist Financial by 158.1% during the 4th quarter. City State Bank now owns 1,169 shares of the insurance provider's stock valued at $51,000 after acquiring an additional 716 shares during the last quarter. Finally, Brown Lisle Cummings Inc. acquired a new stake in Truist Financial during the 4th quarter worth approximately $55,000. Hedge funds and other institutional investors own 71.28% of the company's stock.
Truist Financial Price Performance
Shares of Truist Financial stock traded up $0.86 during trading on Friday, hitting $39.45. 7,950,118 shares of the company were exchanged, compared to its average volume of 8,171,816. 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 fifty-two week low of $33.56 and a fifty-two week high of $49.06. The firm has a 50 day moving average price of $39.59 and a 200 day moving average price of $43.48. The stock has a market capitalization of $51.50 billion, a price-to-earnings ratio of 11.85, a P/E/G ratio of 1.63 and a beta of 0.91.
Truist Financial (NYSE:TFC - Get Free Report) last announced its 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 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 the consensus estimate of $4.99 billion. During the same quarter in the previous year, the company posted $0.90 EPS. On average, equities analysts expect that Truist Financial Co. will post 4 earnings per share for the current fiscal year.
Truist Financial Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Friday, May 9th will be issued a dividend of $0.52 per share. The ex-dividend date is Friday, May 9th. This represents a $2.08 annualized dividend and a dividend yield of 5.27%. Truist Financial's payout ratio is currently 61.36%.
Analyst Upgrades and Downgrades
TFC has been the topic of a number of recent research reports. Keefe, Bruyette & Woods dropped their target price on Truist Financial from $53.00 to $47.00 and set an "outperform" rating on the stock in a report on Monday, April 21st. Morgan Stanley reduced their target price on shares of 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. Stephens reduced their price objective on shares of Truist Financial from $48.00 to $46.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Raymond James cut Truist Financial from an "outperform" rating to a "market perform" rating in a research report on Wednesday, April 2nd. Finally, Wells Fargo & Company reduced their price target on Truist Financial from $52.00 to $50.00 and set an "overweight" rating for the company in a report on Friday, March 28th. One 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $47.83.
Get Our Latest Stock Report on TFC
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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