Griffith & Werner Inc. acquired a new position in Truist Financial Co. (NYSE:TFC - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 103,673 shares of the insurance provider's stock, valued at approximately $4,497,000. Truist Financial makes up about 3.0% of Griffith & Werner Inc.'s holdings, making the stock its 12th largest holding.
A number of other large investors also recently bought and sold shares of TFC. Toronto Dominion Bank grew its holdings in Truist Financial by 0.9% in the fourth quarter. Toronto Dominion Bank now owns 671,437 shares of the insurance provider's stock worth $29,127,000 after purchasing an additional 6,224 shares during the last quarter. Pinney & Scofield Inc. purchased a new position in Truist Financial in the fourth quarter worth $57,000. Neo Ivy Capital Management grew its holdings in Truist Financial by 204.7% in the fourth quarter. Neo Ivy Capital Management now owns 103,410 shares of the insurance provider's stock worth $4,485,000 after purchasing an additional 69,472 shares during the last quarter. Investment Management Corp VA ADV purchased a new position in Truist Financial in the fourth quarter worth $122,000. Finally, Vise Technologies Inc. grew its holdings in Truist Financial by 31.0% in the fourth quarter. Vise Technologies Inc. now owns 12,884 shares of the insurance provider's stock worth $559,000 after purchasing an additional 3,050 shares during the last quarter. Institutional investors own 71.28% of the company's stock.
Truist Financial Price Performance
Shares of Truist Financial stock traded up $0.72 during trading hours on Tuesday, reaching $40.00. The stock had a trading volume of 5,674,837 shares, compared to its average volume of 8,267,525. The stock's 50 day moving average is $38.75 and its 200 day moving average is $43.05. The firm has a market capitalization of $52.38 billion, a PE ratio of 12.01, a PEG ratio of 1.63 and a beta of 0.83. Truist Financial Co. has a twelve month low of $33.56 and a twelve month high of $49.06. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61.
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 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 prior year, the firm earned $0.90 EPS. 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 declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Friday, May 9th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $2.08 annualized dividend and a dividend yield of 5.20%. Truist Financial's dividend payout ratio (DPR) is presently 61.36%.
Wall Street Analysts Forecast Growth
Several equities analysts have issued reports on TFC shares. Baird R W raised shares of Truist Financial from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 5th. Wall Street Zen raised shares of Truist Financial from a "sell" rating to a "hold" rating in a report on Wednesday, May 7th. Citigroup dropped their price objective on shares of Truist Financial from $51.00 to $44.00 and set a "neutral" rating on the stock in a report on Monday, March 24th. Keefe, Bruyette & Woods lowered their price target on Truist Financial from $53.00 to $47.00 and set an "outperform" rating for the company in a research report on Monday, April 21st. Finally, TD Cowen started coverage on Truist Financial in a report on Thursday, May 15th. They issued a "hold" rating and a $44.00 price objective on the stock. Nine analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $47.83.
Get Our Latest Analysis on TFC
About Truist Financial
(
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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