Poehling Capital Management INC. Increases Stock Holdings in Truist Financial Co. (NYSE:TFC)

Poehling Capital Management INC. lifted its position in Truist Financial Co. (NYSE:TFCFree Report) by 44.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 48,044 shares of the insurance provider’s stock after purchasing an additional 14,716 shares during the quarter. Poehling Capital Management INC.’s holdings in Truist Financial were worth $1,774,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Truist Financial by 0.3% in the third quarter. Vanguard Group Inc. now owns 117,271,628 shares of the insurance provider’s stock valued at $3,355,141,000 after purchasing an additional 365,871 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Truist Financial by 8.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 19,238,388 shares of the insurance provider’s stock worth $690,793,000 after buying an additional 1,458,248 shares during the period. Royal Bank of Canada boosted its stake in Truist Financial by 5.0% during the third quarter. Royal Bank of Canada now owns 15,384,890 shares of the insurance provider’s stock worth $440,162,000 after buying an additional 732,801 shares during the period. Morgan Stanley boosted its stake in Truist Financial by 0.3% during the third quarter. Morgan Stanley now owns 15,364,138 shares of the insurance provider’s stock worth $439,568,000 after buying an additional 39,510 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Truist Financial by 11.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 8,731,538 shares of the insurance provider’s stock worth $322,395,000 after buying an additional 883,416 shares during the period. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Wall Street Analysts Forecast Growth

TFC has been the subject of several research analyst reports. Jefferies Financial Group increased their target price on shares of Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. StockNews.com lowered shares of Truist Financial from a “hold” rating to a “sell” rating in a research note on Friday, May 10th. Citigroup increased their price target on shares of Truist Financial from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Keefe, Bruyette & Woods increased their price target on shares of Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 8th. Finally, Evercore ISI reissued an “in-line” rating and set a $44.00 price target on shares of Truist Financial in a research report on Thursday, May 9th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $43.17.

Read Our Latest Stock Analysis on Truist Financial

Insider Buying and Selling at Truist Financial

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $37.48, for a total value of $141,074.72. Following the transaction, the director now directly owns 16,132 shares in the company, valued at $604,627.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.17% of the stock is currently owned by insiders.

Truist Financial Stock Down 0.4 %

NYSE:TFC traded down $0.13 during mid-day trading on Tuesday, hitting $36.98. The stock had a trading volume of 788,148 shares, compared to its average volume of 8,831,769. The company has a market capitalization of $49.48 billion, a PE ratio of -28.13, a PEG ratio of 1.89 and a beta of 1.06. Truist Financial Co. has a twelve month low of $26.57 and a twelve month high of $40.51. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.75. The stock has a 50-day simple moving average of $38.25 and a two-hundred day simple moving average of $36.64.

Truist Financial (NYSE:TFCGet Free Report) last announced its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.78 by $0.12. The company had revenue of $4.87 billion for the quarter, compared to analyst estimates of $5.70 billion. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The firm’s revenue was down 8.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.09 earnings per share. On average, equities research analysts anticipate that Truist Financial Co. will post 3.33 EPS for the current year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 10th were paid a $0.52 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $2.08 annualized dividend and a yield of 5.62%. Truist Financial’s dividend payout ratio is currently -157.58%.

About Truist Financial

(Free Report)

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.

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Institutional Ownership by Quarter for Truist Financial (NYSE:TFC)

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