Quantessence Capital LLC Invests $380,000 in Truist Financial Co. (NYSE:TFC)

Quantessence Capital LLC bought a new position in Truist Financial Co. (NYSE:TFC - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 8,766 shares of the insurance provider's stock, valued at approximately $380,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bangor Savings Bank increased its position in Truist Financial by 92.5% in the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider's stock worth $25,000 after purchasing an additional 272 shares during the last quarter. Hopwood Financial Services Inc. bought a new stake in shares of Truist Financial in the 4th quarter worth about $26,000. Curio Wealth LLC purchased a new stake in shares of Truist Financial during the 4th quarter valued at about $45,000. City State Bank lifted its holdings in shares of Truist Financial by 158.1% in the 4th quarter. City State Bank now owns 1,169 shares of the insurance provider's stock valued at $51,000 after acquiring an additional 716 shares during the last quarter. Finally, Brown Lisle Cummings Inc. bought a new position in shares of Truist Financial in the 4th quarter valued at about $55,000. 71.28% of the stock is owned by institutional investors.

Truist Financial Price Performance

Shares of NYSE:TFC traded up $0.36 during midday trading on Monday, reaching $38.03. 3,643,351 shares of the company's stock traded hands, compared to its average volume of 8,137,542. The company has a fifty day simple moving average of $40.22 and a two-hundred day simple moving average of $43.62. Truist Financial Co. has a 1 year low of $33.56 and a 1 year high of $49.06. The company has a market cap of $49.65 billion, a P/E ratio of 11.41, a PEG ratio of 1.63 and a beta of 0.91. 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 quarterly earnings data 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 net margin of 15.59% and a return on equity of 9.32%. The business had revenue of $4.95 billion for the quarter, compared to the consensus estimate of $4.99 billion. During the same period last year, the firm posted $0.90 earnings per share. Equities analysts predict that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a $0.52 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.08 annualized dividend and a dividend yield of 5.47%. Truist Financial's dividend payout ratio (DPR) is presently 61.36%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Hsbc Global Res upgraded shares of Truist Financial from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 7th. HSBC raised shares of Truist Financial from a "hold" rating to a "buy" rating and set a $50.00 target price on the stock in a research report on Tuesday, January 7th. Baird R W upgraded Truist Financial from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 5th. Keefe, Bruyette & Woods reduced their price target on Truist Financial from $53.00 to $47.00 and set an "outperform" rating on the stock in a research report on Monday, April 21st. Finally, Morgan Stanley cut their price objective on shares of Truist Financial from $50.00 to $43.00 and set an "equal weight" rating on the stock in a report on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $47.83.

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.