World Investment Advisors Boosts Stock Holdings in Truist Financial Co. (NYSE:TFC)

World Investment Advisors increased its position in shares of Truist Financial Co. (NYSE:TFC) by 70.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,691 shares of the insurance provider’s stock after buying an additional 10,205 shares during the period. World Investment Advisors’ holdings in Truist Financial were worth $1,071,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bangor Savings Bank grew its position in shares of Truist Financial by 92.5% during the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock valued at $25,000 after acquiring an additional 272 shares during the period. Hopwood Financial Services Inc. acquired a new stake in Truist Financial in the fourth quarter valued at approximately $26,000. Curio Wealth LLC acquired a new stake in Truist Financial in the fourth quarter valued at approximately $45,000. City State Bank raised its stake in shares of Truist Financial by 158.1% during the 4th quarter. City State Bank now owns 1,169 shares of the insurance provider’s stock worth $51,000 after buying an additional 716 shares during the period. Finally, Brown Lisle Cummings Inc. acquired a new position in shares of Truist Financial during the 4th quarter worth approximately $55,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analyst Upgrades and Downgrades

TFC has been the subject of several recent analyst reports. Keefe, Bruyette & Woods boosted their price target on shares of Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” rating in a report on Tuesday, January 21st. Compass Point upped their price target on shares of Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Baird R W upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Stephens increased their target price on Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Finally, Wells Fargo & Company decreased their target price on Truist Financial from $52.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, March 28th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Truist Financial has an average rating of “Moderate Buy” and a consensus price target of $50.42.

Truist Financial Stock Performance

Truist Financial stock opened at $34.80 on Friday. The firm has a 50 day simple moving average of $43.97 and a 200-day simple moving average of $44.32. The stock has a market cap of $45.43 billion, a price-to-earnings ratio of 10.45, a price-to-earnings-growth ratio of 1.63 and a beta of 0.91. 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 $33.71 and a 1-year high of $49.06.

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

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a $0.52 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a yield of 5.98%. Truist Financial’s payout ratio is currently 62.46%.

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.