Truist Financial Co. (NYSE:TFC) Shares Purchased by TCTC Holdings LLC

TCTC Holdings LLC increased its position in shares of Truist Financial Co. (NYSE:TFC) by 28.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,310 shares of the insurance provider’s stock after acquiring an additional 287 shares during the quarter. TCTC Holdings LLC’s holdings in Truist Financial were worth $57,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Truist Financial by 48.7% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,963 shares of the insurance provider’s stock worth $129,000 after purchasing an additional 971 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Truist Financial by 3.5% in the third quarter. Principal Financial Group Inc. now owns 1,511,299 shares of the insurance provider’s stock valued at $64,638,000 after acquiring an additional 50,637 shares in the last quarter. Cadence Bank boosted its stake in Truist Financial by 101.6% in the third quarter. Cadence Bank now owns 185,184 shares of the insurance provider’s stock valued at $7,920,000 after acquiring an additional 93,322 shares in the last quarter. Country Club Bank boosted its stake in Truist Financial by 719.8% in the fourth quarter. Country Club Bank now owns 45,499 shares of the insurance provider’s stock valued at $1,973,000 after acquiring an additional 39,949 shares in the last quarter. Finally, David Wealth Management LLC acquired a new position in Truist Financial in the fourth quarter valued at $2,354,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Trading Up 1.3 %

NYSE TFC opened at $41.08 on Tuesday. The stock has a market capitalization of $53.62 billion, a P/E ratio of 12.34, a P/E/G ratio of 1.63 and a beta of 1.08. Truist Financial Co. has a 52-week low of $34.51 and a 52-week high of $49.06. The firm has a 50-day moving average price of $45.32 and a 200 day moving average price of $44.54. 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 (NYSE:TFC) last issued its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The company had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.05 billion. During the same period last year, the company posted $0.81 earnings per share. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. Equities research analysts expect that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders 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 yield of 5.06%. Truist Financial’s dividend payout ratio (DPR) is presently 62.46%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports 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 research note on Tuesday, January 21st. HSBC upgraded shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Tuesday, January 7th. Robert W. Baird upgraded shares of Truist Financial from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $48.00 to $52.00 in a research note on Wednesday, March 5th. Barclays increased their target price on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. Finally, Compass Point increased their target price on shares of Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Nine research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $51.16.

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.