HUB Investment Partners LLC Purchases Shares of 7,391 Truist Financial Co. (NYSE:TFC)

HUB Investment Partners LLC acquired a new position in shares of Truist Financial Co. (NYSE:TFC) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 7,391 shares of the insurance provider’s stock, valued at approximately $321,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Bangor Savings Bank boosted its stake in Truist Financial by 92.5% in the 4th 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 period. Hopwood Financial Services Inc. acquired a new stake in shares of Truist Financial during the fourth quarter worth $26,000. Curio Wealth LLC bought a new stake in shares of Truist Financial in the fourth quarter valued at about $45,000. City State Bank grew its stake 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 acquiring an additional 716 shares in the last quarter. Finally, True Wealth Design LLC bought a new position in Truist Financial during the third quarter worth about $51,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Wall Street Analysts Forecast Growth

TFC has been the topic of a number of analyst reports. The Goldman Sachs Group increased their target price on shares of Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Baird R W upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Raymond James lifted their price objective on Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Morgan Stanley raised their price target on Truist Financial from $55.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 21st. 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 stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $51.16.

Truist Financial Price Performance

Shares of TFC opened at $41.41 on Friday. The business has a 50-day simple moving average of $45.12 and a two-hundred day simple moving average of $44.45. Truist Financial Co. has a 12-month low of $35.09 and a 12-month high of $49.06. The stock has a market cap of $54.05 billion, a PE ratio of 12.43, 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 (NYSE:TFC) last issued its quarterly earnings data 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 business had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.05 billion. During the same quarter last year, the business earned $0.81 EPS. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. Analysts anticipate that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors 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 5.02%. Truist Financial’s payout ratio is 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.