Neo Ivy Capital Management Has $4.49 Million Stock Holdings in Truist Financial Co. (NYSE:TFC)

Neo Ivy Capital Management boosted its position in Truist Financial Co. (NYSE:TFC - Free Report) by 204.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 103,410 shares of the insurance provider's stock after purchasing an additional 69,472 shares during the quarter. Truist Financial comprises 0.9% of Neo Ivy Capital Management's holdings, making the stock its 18th biggest position. Neo Ivy Capital Management's holdings in Truist Financial were worth $4,485,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Capital International Investors grew its stake in shares of 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 during the last quarter. Norges Bank acquired a new position in shares of Truist Financial in the 4th quarter worth approximately $402,828,000. FMR LLC grew its stake in shares of Truist Financial by 109.1% in the 4th quarter. FMR LLC now owns 10,460,159 shares of the insurance provider's stock worth $453,762,000 after purchasing an additional 5,457,053 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Truist Financial in the 4th quarter worth approximately $198,051,000. Finally, Northern Trust Corp grew its stake in shares of Truist Financial by 20.5% in the 4th quarter. Northern Trust Corp now owns 14,434,173 shares of the insurance provider's stock worth $626,154,000 after purchasing an additional 2,452,239 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TFC has been the topic of several recent research reports. Wells Fargo & Company lowered their price objective on shares of Truist Financial from $52.00 to $50.00 and set an "overweight" rating on the stock in a research note on Friday, March 28th. Keefe, Bruyette & Woods cut their price target on shares of Truist Financial from $53.00 to $47.00 and set an "outperform" rating on the stock in a report on Monday, April 21st. Raymond James lowered shares of Truist Financial from an "outperform" rating to a "market perform" rating in a report on Wednesday, April 2nd. Citigroup cut their price target 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. Finally, Baird R W upgraded shares of Truist Financial from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 5th. Nine research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $47.83.

Truist Financial Stock Performance

Shares of NYSE TFC traded up $0.72 during trading hours on Tuesday, hitting $40.00. 5,674,704 shares of the stock were exchanged, compared to its average volume of 8,267,523. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. Truist Financial Co. has a one year low of $33.56 and a one year high of $49.06. The company'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 P/E ratio of 12.01, a P/E/G ratio of 1.63 and a beta of 0.83.

Truist Financial (NYSE:TFC - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, meeting analysts' consensus estimates 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 period in the prior year, the firm earned $0.90 EPS. On average, research analysts expect that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Friday, May 9th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 5.20%. The ex-dividend date is Friday, May 9th. Truist Financial's dividend payout ratio (DPR) is presently 61.36%.

Truist Financial 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.