Truist Financial Co. (NYSE:TFC) Shares Purchased by Neo Ivy Capital Management

Neo Ivy Capital Management grew its holdings in Truist Financial Co. (NYSE:TFC - Free Report) by 204.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 103,410 shares of the insurance provider's stock after buying an additional 69,472 shares during the quarter. Truist Financial accounts for 0.9% of Neo Ivy Capital Management's investment portfolio, making the stock its 18th largest position. Neo Ivy Capital Management's holdings in Truist Financial were worth $4,485,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Investment Management Corp VA ADV purchased a new position in Truist Financial in the 4th quarter valued at about $122,000. Vise Technologies Inc. raised its holdings in shares of Truist Financial by 31.0% during the fourth quarter. Vise Technologies Inc. now owns 12,884 shares of the insurance provider's stock valued at $559,000 after acquiring an additional 3,050 shares during the last quarter. Inspire Trust Co. N.A. lifted its position in shares of Truist Financial by 9.3% in the fourth quarter. Inspire Trust Co. N.A. now owns 82,000 shares of the insurance provider's stock valued at $3,557,000 after acquiring an additional 7,000 shares in the last quarter. Poehling Capital Management INC. boosted its stake in shares of Truist Financial by 0.6% in the fourth quarter. Poehling Capital Management INC. now owns 51,201 shares of the insurance provider's stock worth $2,221,000 after acquiring an additional 307 shares during the last quarter. Finally, Continuum Advisory LLC boosted its stake in shares of Truist Financial by 12.1% in the fourth quarter. Continuum Advisory LLC now owns 9,084 shares of the insurance provider's stock worth $394,000 after acquiring an additional 980 shares during the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TFC has been the topic of a number of research reports. Stephens decreased their price objective on Truist Financial from $48.00 to $46.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Citigroup reduced their target price on shares of Truist Financial from $51.00 to $44.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. Baird R W upgraded shares of Truist Financial from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 5th. Piper Sandler dropped their price objective on shares of Truist Financial from $45.00 to $41.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. Finally, Robert W. Baird raised shares of Truist Financial from a "neutral" rating to an "outperform" rating and raised their target price for the stock from $48.00 to $52.00 in a research note on Wednesday, March 5th. Nine research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Truist Financial currently has a consensus rating of "Moderate Buy" and a consensus price target of $47.83.

Truist Financial Trading Down 0.7%

Shares of NYSE TFC traded down $0.29 during mid-day trading on Wednesday, reaching $39.74. 2,577,302 shares of the company's stock were exchanged, compared to its average volume of 8,245,512. The firm has a market capitalization of $52.05 billion, a price-to-earnings ratio of 11.94, a PEG ratio of 1.63 and a beta of 0.83. Truist Financial Co. has a 52-week low of $33.56 and a 52-week high of $49.06. The company's 50-day moving average is $38.72 and its 200-day moving average is $43.03. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83.

Truist Financial (NYSE:TFC - Get Free Report) last posted its earnings results on Thursday, April 17th. The insurance provider reported $0.87 EPS 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 company had revenue of $4.95 billion for the quarter, compared to analysts' expectations of $4.99 billion. During the same quarter in the prior year, the company posted $0.90 earnings per share. Analysts expect that Truist Financial Co. will post 4 EPS 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. Investors 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 dividend yield of 5.23%. Truist Financial's payout ratio is currently 61.36%.

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.