Skba Capital Management LLC Has $11.51 Million Holdings in Truist Financial Co. (NYSE:TFC)

Skba Capital Management LLC raised its position in Truist Financial Co. (NYSE:TFC) by 92.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 265,400 shares of the insurance provider’s stock after purchasing an additional 127,500 shares during the period. Truist Financial accounts for approximately 1.8% of Skba Capital Management LLC’s portfolio, making the stock its 22nd largest position. Skba Capital Management LLC’s holdings in Truist Financial were worth $11,513,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Bangor Savings Bank raised its stake in Truist Financial by 92.5% during the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock worth $25,000 after buying an additional 272 shares during the last quarter. Hopwood Financial Services Inc. bought a new position in shares of Truist Financial in the 4th quarter worth about $26,000. Curio Wealth LLC acquired a new position in shares of Truist Financial in the 4th quarter valued at about $45,000. City State Bank boosted its position 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 valued at $51,000 after purchasing an additional 716 shares in the last quarter. Finally, True Wealth Design LLC bought a new stake in Truist Financial in the third quarter worth approximately $51,000. 71.28% of the stock is owned by institutional investors.

Truist Financial Trading Down 2.3 %

NYSE:TFC opened at $40.46 on Monday. Truist Financial Co. has a 52 week low of $35.09 and a 52 week high of $49.06. The firm has a 50-day moving average price of $44.78 and a two-hundred day moving average price of $44.44. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. The firm has a market cap of $52.81 billion, a price-to-earnings ratio of 12.15, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, beating 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 company had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.05 billion. During the same period last year, the business posted $0.81 earnings per share. Truist Financial’s revenue was up 3.4% on a year-over-year basis. On average, equities analysts expect that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.14%. 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

A number of research firms have issued reports on TFC. Baird R W upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Wells Fargo & Company reduced their price target on shares of Truist Financial from $52.00 to $50.00 and set an “overweight” rating for the company in a report on Friday. Morgan Stanley lifted their price target on shares of Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. Robert W. Baird upgraded Truist Financial from a “neutral” rating to an “outperform” rating and raised their target price for the company from $48.00 to $52.00 in a research note on Wednesday, March 5th. Finally, HSBC upgraded Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a report on Tuesday, January 7th. Nine research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Truist Financial presently has a consensus rating of “Moderate Buy” and a consensus 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.