Toronto Dominion Bank Buys 6,224 Shares of Truist Financial Co. (NYSE:TFC)

Toronto Dominion Bank lifted its position in Truist Financial Co. (NYSE:TFC - Free Report) by 0.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 671,437 shares of the insurance provider's stock after acquiring an additional 6,224 shares during the period. Toronto Dominion Bank owned about 0.05% of Truist Financial worth $29,127,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Hopwood Financial Services Inc. acquired a new stake in shares of Truist Financial during the fourth quarter worth approximately $26,000. Navigoe LLC acquired a new stake in shares of Truist Financial during the 4th quarter valued at $26,000. Curio Wealth LLC purchased a new position in shares of Truist Financial during the 4th quarter valued at $45,000. Brown Lisle Cummings Inc. acquired a new position in shares of Truist Financial in the fourth quarter worth $55,000. Finally, TCTC Holdings LLC raised its holdings in shares of Truist Financial by 28.1% during the fourth quarter. TCTC Holdings LLC now owns 1,310 shares of the insurance provider's stock worth $57,000 after acquiring an additional 287 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on TFC shares. Wells Fargo & Company decreased their target price on shares of Truist Financial from $52.00 to $50.00 and set an "overweight" rating for the company in a research report on Friday, March 28th. Keefe, Bruyette & Woods reduced 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. TD Cowen started coverage on Truist Financial in a report on Thursday, May 15th. They set a "hold" rating and a $44.00 price objective on the stock. Baird R W raised Truist Financial from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 5th. Finally, JPMorgan Chase & Co. decreased their target price on Truist Financial from $48.00 to $42.00 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. 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 stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $47.83.

Truist Financial Stock Up 0.9%

Shares of NYSE TFC traded up $0.34 during trading on Thursday, hitting $39.46. 10,460,202 shares of the company traded hands, compared to its average volume of 8,232,014. The business's fifty day moving average is $38.85 and its 200 day moving average is $43.18. Truist Financial Co. has a fifty-two week low of $33.56 and a fifty-two week high of $49.06. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. The firm has a market capitalization of $51.67 billion, a price-to-earnings ratio of 11.85, a P/E/G ratio of 1.63 and a beta of 0.83.

Truist Financial (NYSE:TFC - Get Free Report) last released its earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.87. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The company had revenue of $4.95 billion during the quarter, compared to analyst estimates of $4.99 billion. During the same period in the prior year, the company posted $0.90 earnings per share. Equities research analysts predict that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend 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%.

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.