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Truist Financial Co. (NYSE:TFC) Shares Acquired by Waverly Advisors LLC

Truist Financial logo with Finance background

Waverly Advisors LLC lifted its stake in Truist Financial Co. (NYSE:TFC - Free Report) by 9.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 78,194 shares of the insurance provider's stock after purchasing an additional 6,546 shares during the quarter. Waverly Advisors LLC's holdings in Truist Financial were worth $3,392,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Woodline Partners LP acquired a new stake in shares of Truist Financial in the fourth quarter valued at approximately $3,458,000. Triglav Skladi D.O.O. acquired a new stake in shares of Truist Financial in the fourth quarter valued at approximately $10,010,000. Teza Capital Management LLC increased its holdings in shares of Truist Financial by 291.0% in the fourth quarter. Teza Capital Management LLC now owns 56,483 shares of the insurance provider's stock valued at $2,450,000 after purchasing an additional 42,037 shares during the last quarter. Toronto Dominion Bank increased its holdings in shares of Truist Financial by 0.9% in the fourth quarter. Toronto Dominion Bank now owns 671,437 shares of the insurance provider's stock valued at $29,127,000 after purchasing an additional 6,224 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC increased its holdings in shares of Truist Financial by 1,031.3% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 388,444 shares of the insurance provider's stock valued at $16,851,000 after purchasing an additional 354,109 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on TFC. Robert W. Baird raised Truist Financial from a "neutral" rating to an "outperform" rating and increased their price target for the company from $48.00 to $52.00 in a report on Wednesday, March 5th. TD Cowen began coverage on Truist Financial in a research report on Thursday, May 15th. They issued a "hold" rating and a $44.00 price objective for the company. Wells Fargo & Company lowered their price objective on Truist Financial from $52.00 to $50.00 and set an "overweight" rating for the company in a research report on Friday, March 28th. Argus set a $43.00 price objective on Truist Financial in a research report on Monday, April 21st. Finally, Stephens lowered their price objective on Truist Financial from $48.00 to $46.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Nine equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $47.83.

Get Our Latest Research Report on TFC

Truist Financial Trading Up 1.0%

Shares of TFC traded up $0.41 during midday trading on Tuesday, hitting $39.69. 1,453,051 shares of the stock were exchanged, compared to its average volume of 9,136,304. Truist Financial Co. has a 52-week low of $33.56 and a 52-week high of $49.06. The stock has a fifty day simple moving average of $38.75 and a 200 day simple moving average of $43.05. The firm has a market cap of $51.97 billion, a P/E ratio of 11.92, a P/E/G ratio of 1.63 and a beta of 0.83. 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 released its quarterly earnings results on Thursday, April 17th. The insurance provider reported $0.87 EPS for the quarter, hitting the consensus estimate of $0.87. The business had revenue of $4.95 billion during the quarter, compared to analyst estimates of $4.99 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. During the same period last year, the business posted $0.90 earnings per share. On average, research analysts anticipate that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

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 paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 5.24%. The ex-dividend date is Friday, May 9th. Truist Financial's payout ratio is currently 61.36%.

Truist Financial Profile

(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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Institutional Ownership by Quarter for Truist Financial (NYSE:TFC)

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