Rhino Investment Partners Inc trimmed its stake in shares of Truist Financial Co. (NYSE:TFC - Free Report) by 41.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 599,079 shares of the insurance provider's stock after selling 417,342 shares during the period. Truist Financial accounts for 5.7% of Rhino Investment Partners Inc's portfolio, making the stock its 2nd largest holding. Rhino Investment Partners Inc's holdings in Truist Financial were worth $25,988,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Bangor Savings Bank grew its holdings in Truist Financial by 92.5% during the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider's stock valued at $25,000 after buying an additional 272 shares in the last quarter. Hopwood Financial Services Inc. bought a new stake in shares of Truist Financial in the 4th quarter worth about $26,000. Navigoe LLC purchased a new stake in shares of Truist Financial during the 4th quarter valued at about $26,000. Curio Wealth LLC bought a new position in shares of Truist Financial in the 4th quarter valued at about $45,000. Finally, City State Bank grew its position in Truist Financial by 158.1% in the fourth quarter. City State Bank now owns 1,169 shares of the insurance provider's stock worth $51,000 after acquiring an additional 716 shares in the last quarter. Institutional investors own 71.28% of the company's stock.
Wall Street Analyst Weigh In
TFC has been the subject of several analyst reports. Barclays lowered their price objective on Truist Financial from $51.00 to $47.00 and set an "equal weight" rating for the company in a research note on Monday, April 21st. Wells Fargo & Company dropped their price objective on shares of Truist Financial from $52.00 to $50.00 and set an "overweight" rating for the company in a research note on Friday, March 28th. Stephens reduced their target price on shares of Truist Financial from $48.00 to $46.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Piper Sandler dropped their price target on shares of Truist Financial from $45.00 to $41.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. Finally, Baird R W raised shares of Truist Financial from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Truist Financial currently has an average rating of "Moderate Buy" and an average target price of $47.83.
View Our Latest Analysis on TFC
Truist Financial Stock Up 2.2 %
Shares of NYSE:TFC traded up $0.86 during trading hours on Friday, hitting $39.45. The company's stock had a trading volume of 7,950,118 shares, compared to its average volume of 8,172,183. The firm's fifty day moving average price is $39.48 and its 200 day moving average price is $43.44. Truist Financial Co. has a 52 week low of $33.56 and a 52 week high of $49.06. The company has a market capitalization of $51.50 billion, a price-to-earnings ratio of 11.85, a P/E/G ratio of 1.63 and a beta of 0.91. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83.
Truist Financial (NYSE:TFC - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The insurance provider reported $0.87 EPS for the quarter, hitting analysts' consensus estimates of $0.87. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The company had revenue of $4.95 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter in the previous year, the firm posted $0.90 earnings per share. As a group, research analysts expect that Truist Financial Co. will post 4 EPS for the current year.
Truist Financial Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Friday, May 9th will be paid a $0.52 dividend. The ex-dividend date is Friday, May 9th. This represents a $2.08 annualized dividend and a yield of 5.27%. Truist Financial's dividend payout ratio (DPR) is presently 61.36%.
About Truist Financial
(
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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