Associated Banc Corp Purchases 467 Shares of Truist Financial Co. (NYSE:TFC)

Associated Banc Corp increased its position in Truist Financial Co. (NYSE:TFC) by 0.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 141,453 shares of the insurance provider’s stock after buying an additional 467 shares during the period. Associated Banc Corp’s holdings in Truist Financial were worth $6,136,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of TFC. Harbour Investments Inc. boosted its holdings in Truist Financial by 14.2% in the 3rd quarter. Harbour Investments Inc. now owns 4,313 shares of the insurance provider’s stock worth $184,000 after buying an additional 537 shares during the period. Prime Capital Investment Advisors LLC boosted its holdings in Truist Financial by 2.7% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 10,399 shares of the insurance provider’s stock worth $445,000 after buying an additional 270 shares during the period. Aptus Capital Advisors LLC boosted its holdings in Truist Financial by 19.7% in the 3rd quarter. Aptus Capital Advisors LLC now owns 24,582 shares of the insurance provider’s stock worth $1,051,000 after buying an additional 4,049 shares during the period. Haverford Trust Co boosted its holdings in Truist Financial by 8.6% in the 3rd quarter. Haverford Trust Co now owns 12,629 shares of the insurance provider’s stock worth $540,000 after buying an additional 998 shares during the period. Finally, MQS Management LLC purchased a new stake in Truist Financial in the 3rd quarter worth $203,000. Institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Performance

Truist Financial stock opened at $40.54 on Friday. 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 Co. has a 1-year low of $34.51 and a 1-year high of $49.06. The firm has a market capitalization of $52.92 billion, a P/E ratio of 12.17, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. The company’s 50-day moving average is $45.38 and its 200 day moving average is $44.55.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $5.05 billion. During the same period in the prior year, the company posted $0.81 EPS. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. Research analysts forecast that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 5.13%. The ex-dividend date of this dividend was Friday, February 14th. Truist Financial’s dividend payout ratio (DPR) is currently 62.46%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Baird R W upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Robert W. Baird upgraded shares of Truist Financial from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $48.00 to $52.00 in a research note on Wednesday, March 5th. Piper Sandler boosted their price target on shares of Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Compass Point boosted their price target 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. Finally, 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 note on Monday, November 25th. Nine 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.16.

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.