Brandes Investment Partners LP Has $32.48 Million Stake in Truist Financial Co. (NYSE:TFC)

Brandes Investment Partners LP raised its position in Truist Financial Co. (NYSE:TFC) by 0.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 748,641 shares of the insurance provider’s stock after purchasing an additional 6,871 shares during the period. Brandes Investment Partners LP owned 0.06% of Truist Financial worth $32,476,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Hills Bank & Trust Co lifted its position in shares of Truist Financial by 1.9% in the 4th quarter. Hills Bank & Trust Co now owns 45,015 shares of the insurance provider’s stock worth $1,953,000 after purchasing an additional 834 shares during the period. United Capital Management of KS Inc. lifted its position in shares of Truist Financial by 10.0% in the 4th quarter. United Capital Management of KS Inc. now owns 122,239 shares of the insurance provider’s stock worth $5,303,000 after purchasing an additional 11,078 shares during the period. Greatmark Investment Partners Inc. lifted its position in shares of Truist Financial by 23.3% in the 4th quarter. Greatmark Investment Partners Inc. now owns 7,002 shares of the insurance provider’s stock worth $304,000 after purchasing an additional 1,324 shares during the period. Associated Banc Corp lifted its position in shares of Truist Financial by 0.3% in the 4th quarter. Associated Banc Corp now owns 141,453 shares of the insurance provider’s stock worth $6,136,000 after purchasing an additional 467 shares during the period. Finally, First National Trust Co lifted its position in shares of Truist Financial by 3.4% in the 4th quarter. First National Trust Co now owns 212,428 shares of the insurance provider’s stock worth $9,215,000 after purchasing an additional 7,069 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Performance

NYSE TFC opened at $40.54 on Friday. Truist Financial Co. has a 1 year low of $34.51 and a 1 year high of $49.06. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. The firm has a market cap of $52.92 billion, a price-to-earnings ratio of 12.17, a PEG ratio of 1.63 and a beta of 1.08. The company has a fifty day moving average price of $45.38 and a 200-day moving average price of $44.55.

Truist Financial (NYSE:TFC) last posted its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.03. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The firm had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.05 billion. During the same quarter in the prior year, the business posted $0.81 EPS. The business’s revenue was up 3.4% compared to the same quarter last year. As a group, equities research analysts predict that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were paid a $0.52 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.08 annualized dividend and a dividend yield of 5.13%. Truist Financial’s payout ratio is 62.46%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on TFC shares. Citigroup boosted their price target on shares of Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. Keefe, Bruyette & Woods boosted their target price on shares of Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a research report on Tuesday, January 21st. 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. Piper Sandler boosted their target price on shares of Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Finally, Raymond James boosted their target price on shares of Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Nine investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.16.

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.