Truist Financial Co. (NYSE:TFC) Stake Raised by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC raised its position in shares of Truist Financial Co. (NYSE:TFC) by 8.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 182,704 shares of the insurance provider’s stock after purchasing an additional 14,968 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Truist Financial were worth $7,926,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of TFC. Prevail Innovative Wealth Advisors LLC bought a new stake in shares of Truist Financial during the 4th quarter worth about $304,000. United Bank grew its stake in Truist Financial by 3.9% in the 4th quarter. United Bank now owns 75,782 shares of the insurance provider’s stock valued at $3,287,000 after buying an additional 2,842 shares during the last quarter. Physician Wealth Advisors Inc. bought a new stake in Truist Financial during the 4th quarter valued at approximately $59,000. CIBC Private Wealth Group LLC increased its position in Truist Financial by 9.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 170,711 shares of the insurance provider’s stock worth $7,503,000 after buying an additional 14,340 shares during the period. Finally, Schroder Investment Management Group boosted its position in shares of Truist Financial by 2.1% in the fourth quarter. Schroder Investment Management Group now owns 961,234 shares of the insurance provider’s stock valued at $41,689,000 after acquiring an additional 19,320 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Performance

Truist Financial stock opened at $41.00 on Wednesday. Truist Financial Co. has a 1-year low of $35.09 and a 1-year high of $49.06. The firm’s 50 day simple moving average is $44.51 and its 200 day simple moving average is $44.43. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $53.51 billion, a PE ratio of 12.31, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.88 by $0.03. The firm had revenue of $5.11 billion for the quarter, compared to the consensus estimate 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 was up 3.4% compared to the same quarter last year. During the same period last year, the firm posted $0.81 earnings per share. As a group, analysts expect that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.07%. Truist Financial’s dividend payout ratio is presently 62.46%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on TFC shares. Compass Point boosted their price target on shares of Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Wells Fargo & Company cut their price objective on Truist Financial from $52.00 to $50.00 and set an “overweight” rating for the company in a research report on Friday, March 28th. StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, January 17th. Raymond James upped their price target on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Finally, Piper Sandler raised their price objective 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. 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $50.68.

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.