Natixis Advisors LLC Purchases 39,818 Shares of Truist Financial Co. (NYSE:TFC)

Natixis Advisors LLC boosted its position in shares of Truist Financial Co. (NYSE:TFC) by 8.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 491,394 shares of the insurance provider’s stock after buying an additional 39,818 shares during the quarter. Natixis Advisors LLC’s holdings in Truist Financial were worth $21,316,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bangor Savings Bank increased its holdings in shares of Truist Financial by 92.5% in the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 272 shares during the last quarter. Hopwood Financial Services Inc. acquired a new position in shares of Truist Financial in the fourth quarter valued at $26,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Truist Financial in the third quarter valued at $32,000. City State Bank increased its holdings in shares of Truist Financial by 158.1% in the fourth quarter. City State Bank now owns 1,169 shares of the insurance provider’s stock valued at $51,000 after purchasing an additional 716 shares during the last quarter. Finally, True Wealth Design LLC acquired a new position in shares of Truist Financial in the third quarter valued at $51,000. 71.28% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on TFC shares. Keefe, Bruyette & Woods upped their price objective on shares of Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Tuesday, January 21st. Barclays upped their price target on shares of Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Stephens upped their price target on shares of Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Piper Sandler upped their price target on shares of Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Finally, Compass Point upped their price target on shares of Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Nine analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $51.16.

Truist Financial Trading Up 1.3 %

Shares of Truist Financial stock opened at $41.08 on Tuesday. The company has a market capitalization of $53.62 billion, a price-to-earnings ratio of 12.34, a PEG ratio of 1.63 and a beta of 1.08. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. Truist Financial Co. has a 12-month low of $34.51 and a 12-month high of $49.06. The firm’s 50-day moving average price is $45.32 and its two-hundred day moving average price is $44.54.

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

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a $0.52 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.06%. Truist Financial’s dividend payout ratio (DPR) is currently 62.46%.

Truist Financial Company 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.