Motley Fool Asset Management LLC Grows Stock Position in Truist Financial Co. (NYSE:TFC)

Motley Fool Asset Management LLC raised its holdings in shares of Truist Financial Co. (NYSE:TFC) by 13.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,980 shares of the insurance provider’s stock after acquiring an additional 7,081 shares during the quarter. Motley Fool Asset Management LLC’s holdings in Truist Financial were worth $2,645,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Bangor Savings Bank raised 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 worth $25,000 after purchasing an additional 272 shares during the last quarter. Hopwood Financial Services Inc. acquired a new position in shares of Truist Financial in the fourth quarter worth $26,000. Curio Wealth LLC purchased a new stake in shares of Truist Financial in the fourth quarter valued at $45,000. City State Bank increased its position in 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 purchasing an additional 716 shares in the last quarter. Finally, Brown Lisle Cummings Inc. acquired a new position in Truist Financial in the 4th quarter valued at about $55,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Wall Street Analysts Forecast Growth

TFC has been the subject of a number of recent research reports. Stephens lifted their price target on shares of Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Keefe, Bruyette & Woods boosted their price target on Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Tuesday, January 21st. Compass Point raised their price objective on Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. StockNews.com lowered Truist Financial from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, Wells Fargo & Company decreased their price target on Truist Financial from $52.00 to $50.00 and set an “overweight” rating on the stock in a research note on Friday, March 28th. One analyst has rated the stock with a sell rating, nine have given a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Truist Financial currently has an average rating of “Moderate Buy” and an average target price of $50.42.

Truist Financial Trading Down 10.8 %

Shares of TFC opened at $37.06 on Friday. Truist Financial Co. has a 12 month low of $35.09 and a 12 month high of $49.06. The stock’s 50-day moving average is $44.21 and its two-hundred day moving average is $44.36. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a market cap of $48.37 billion, a PE ratio of 11.13, a P/E/G ratio of 1.63 and a beta of 1.08.

Truist Financial (NYSE:TFC) last released its quarterly earnings results 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 return on equity of 9.32% and a net margin of 15.59%. The firm had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.05 billion. During the same quarter in the prior year, the business earned $0.81 EPS. Truist Financial’s quarterly revenue was up 3.4% compared to the same quarter last year. Equities analysts forecast that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently disclosed 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 5.61%. Truist Financial’s payout ratio is currently 62.46%.

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.