ProShare Advisors LLC Buys 27,143 Shares of Truist Financial Co. (NYSE:TFC)

ProShare Advisors LLC increased its holdings in Truist Financial Co. (NYSE:TFC - Free Report) by 10.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 284,529 shares of the insurance provider's stock after acquiring an additional 27,143 shares during the period. ProShare Advisors LLC's holdings in Truist Financial were worth $12,343,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Hopwood Financial Services Inc. purchased a new stake in shares of Truist Financial during the 4th quarter worth about $26,000. Navigoe LLC purchased a new stake in shares of Truist Financial during the 4th quarter worth about $26,000. Curio Wealth LLC purchased a new stake in shares of Truist Financial during the 4th quarter worth about $45,000. Brown Lisle Cummings Inc. purchased a new stake in shares of Truist Financial during the 4th quarter worth about $55,000. Finally, TCTC Holdings LLC raised its stake in shares of Truist Financial by 28.1% during the 4th quarter. TCTC Holdings LLC now owns 1,310 shares of the insurance provider's stock worth $57,000 after purchasing an additional 287 shares in the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on TFC shares. Wells Fargo & Company lowered their price objective on Truist Financial from $52.00 to $50.00 and set an "overweight" rating on the stock in a report on Friday, March 28th. Citigroup lowered their target price on Truist Financial from $51.00 to $44.00 and set a "neutral" rating on the stock in a report on Monday, March 24th. Baird R W raised Truist Financial from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 5th. Robert W. Baird raised Truist Financial from a "neutral" rating to an "outperform" rating and raised their target price for the company from $48.00 to $52.00 in a report on Wednesday, March 5th. Finally, Argus set a $43.00 target price on Truist Financial in a report on Monday, April 21st. Nine investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Truist Financial has a consensus rating of "Moderate Buy" and an average price target of $47.83.

Truist Financial Stock Down 1.8%

Shares of TFC stock traded down $0.75 during trading hours on Tuesday, hitting $40.65. 11,771,869 shares of the company were exchanged, compared to its average volume of 8,211,058. The company has a market capitalization of $53.23 billion, a PE ratio of 12.21, a PEG ratio of 1.63 and a beta of 0.83. The business has a 50 day moving average of $38.85 and a two-hundred day moving average of $43.22. Truist Financial Co. has a 52 week low of $33.56 and a 52 week high of $49.06. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61.

Truist Financial (NYSE:TFC - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The insurance provider reported $0.87 EPS for the quarter, meeting analysts' consensus estimates of $0.87. The company had revenue of $4.95 billion for 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 in the previous year, the company posted $0.90 earnings per share. Analysts anticipate that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

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 is Friday, May 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.12%. Truist Financial's dividend payout ratio (DPR) is 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.