NorthRock Partners LLC Has $623,000 Stake in Truist Financial Co. (NYSE:TFC)

NorthRock Partners LLC increased its position in Truist Financial Co. (NYSE:TFC - Free Report) by 168.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,356 shares of the insurance provider's stock after purchasing an additional 9,004 shares during the period. NorthRock Partners LLC's holdings in Truist Financial were worth $623,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Comerica Bank boosted its stake in Truist Financial by 3.6% in the fourth quarter. Comerica Bank now owns 449,484 shares of the insurance provider's stock valued at $19,499,000 after acquiring an additional 15,499 shares during the period. Thurston Springer Miller Herd & Titak Inc. boosted its stake in Truist Financial by 48.7% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,963 shares of the insurance provider's stock valued at $129,000 after acquiring an additional 971 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of Truist Financial by 81.7% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,108,466 shares of the insurance provider's stock valued at $48,085,000 after buying an additional 498,531 shares during the last quarter. Country Club Bank raised its holdings in shares of Truist Financial by 719.8% during the fourth quarter. Country Club Bank now owns 45,499 shares of the insurance provider's stock valued at $1,973,000 after buying an additional 39,949 shares during the last quarter. Finally, David Wealth Management LLC bought a new stake in shares of Truist Financial during the fourth quarter valued at approximately $2,354,000. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Price Performance

Shares of NYSE TFC traded up $0.01 during trading on Monday, hitting $41.41. The company had a trading volume of 6,270,322 shares, compared to its average volume of 8,183,181. Truist Financial Co. has a 52 week low of $33.56 and a 52 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 company has a market cap of $54.23 billion, a P/E ratio of 12.44, a PEG ratio of 1.63 and a beta of 0.83. The business's 50-day moving average is $38.82 and its 200 day moving average is $43.23.

Truist Financial (NYSE:TFC - Get Free Report) last posted its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $4.99 billion. During the same period in the previous year, the company posted $0.90 EPS. Equities research analysts predict 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. Stockholders of record on Friday, May 9th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 5.02%. The ex-dividend date of this dividend is Friday, May 9th. Truist Financial's dividend payout ratio is currently 61.36%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. TD Cowen assumed coverage on Truist Financial in a report on Thursday. They set a "hold" rating and a $44.00 price target on the stock. Keefe, Bruyette & Woods lowered their target price on shares of Truist Financial from $53.00 to $47.00 and set an "outperform" rating on the stock in a research note on Monday, April 21st. Citigroup decreased their price objective on shares of Truist Financial from $51.00 to $44.00 and set a "neutral" rating for the company in a report on Monday, March 24th. Raymond James cut Truist Financial from an "outperform" rating to a "market perform" rating in a report on Wednesday, April 2nd. Finally, JPMorgan Chase & Co. lowered their price target on Truist Financial from $48.00 to $42.00 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. Nine research 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 data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $47.83.

About Truist Financial

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.