Colonial Trust Co SC Purchases 8,470 Shares of Truist Financial Co. (NYSE:TFC)

Colonial Trust Co SC lifted its stake in Truist Financial Co. (NYSE:TFC - Free Report) by 13.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 73,413 shares of the insurance provider's stock after acquiring an additional 8,470 shares during the period. Colonial Trust Co SC's holdings in Truist Financial were worth $3,185,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of TFC. CoreCap Advisors LLC lifted its holdings in shares of Truist Financial by 79.8% during the 4th quarter. CoreCap Advisors LLC now owns 1,656 shares of the insurance provider's stock worth $72,000 after acquiring an additional 735 shares during the period. Crestline Management LP bought a new stake in shares of Truist Financial in the 4th quarter valued at approximately $8,820,000. Cetera Investment Advisers lifted its position in shares of Truist Financial by 4.6% during the 4th quarter. Cetera Investment Advisers now owns 474,619 shares of the insurance provider's stock worth $20,589,000 after buying an additional 21,068 shares during the period. BOKF NA boosted its stake in Truist Financial by 10.8% in the 4th quarter. BOKF NA now owns 270,531 shares of the insurance provider's stock valued at $11,573,000 after buying an additional 26,273 shares in the last quarter. Finally, Bridgefront Capital LLC grew its position in Truist Financial by 114.6% in the fourth quarter. Bridgefront Capital LLC now owns 46,216 shares of the insurance provider's stock valued at $2,005,000 after acquiring an additional 24,682 shares during the period. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Stock Down 1.7 %

Shares of TFC traded down $0.68 during midday trading on Friday, hitting $38.88. The stock had a trading volume of 7,187,554 shares, compared to its average volume of 8,174,370. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. The firm has a market cap of $50.91 billion, a price-to-earnings ratio of 11.68, a price-to-earnings-growth ratio of 1.63 and a beta of 0.83. The company has a 50 day simple moving average of $38.86 and a two-hundred day simple moving average of $43.30. 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 released its quarterly earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, hitting analysts' consensus estimates of $0.87. The firm had revenue of $4.95 billion during the quarter, compared to the consensus estimate of $4.99 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. During the same quarter in the prior year, the firm posted $0.90 EPS. On average, analysts anticipate that Truist Financial Co. will post 4 EPS for the current 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 $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 5.35%. The ex-dividend date of this dividend is Friday, May 9th. Truist Financial's payout ratio is 61.36%.

Analyst Ratings Changes

TFC has been the topic of several analyst reports. Piper Sandler lowered their target price on shares of Truist Financial from $45.00 to $41.00 and set a "neutral" rating on the stock in a report on Monday, April 21st. Barclays dropped their price objective on shares of Truist Financial from $51.00 to $47.00 and set an "equal weight" rating for the company in a report on Monday, April 21st. Stephens reduced their target price on Truist Financial from $48.00 to $46.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Wells Fargo & Company dropped 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. Finally, Keefe, Bruyette & Woods reduced their price objective 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. Nine research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price 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.