Truist Financial Co. (NYSE:TFC) Shares Bought by First Eagle Investment Management LLC

First Eagle Investment Management LLC grew its position in shares of Truist Financial Co. (NYSE:TFC) by 257.1% during the fourth quarter, Holdings Channel reports. The firm owned 85,143 shares of the insurance provider’s stock after acquiring an additional 61,302 shares during the quarter. First Eagle Investment Management LLC’s holdings in Truist Financial were worth $3,694,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Bangor Savings Bank raised its stake in shares of Truist Financial by 92.5% in the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock valued at $25,000 after acquiring an additional 272 shares in the last quarter. Valley Wealth Managers Inc. acquired a new stake in shares of Truist Financial in the third quarter valued at $26,000. Hopwood Financial Services Inc. acquired a new stake in shares of Truist Financial in the fourth quarter valued at $26,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Truist Financial in the third quarter valued at $32,000. Finally, True Wealth Design LLC acquired a new stake in shares of Truist Financial in the third quarter valued at $51,000. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on TFC shares. Stephens increased their price objective on Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, January 17th. Barclays increased their target price on Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Compass Point increased their target price on Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Finally, Piper Sandler increased their target price on Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Nine analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.16.

Truist Financial Price Performance

Shares of TFC opened at $40.54 on Friday. Truist Financial Co. has a fifty-two week low of $34.51 and a fifty-two week high of $49.06. The company has a market capitalization of $52.92 billion, a price-to-earnings ratio of 12.17, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. The firm has a 50-day simple moving average of $45.38 and a 200-day simple moving average of $44.56. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83.

Truist Financial (NYSE:TFC) last announced its earnings results 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 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 the consensus estimate of $5.05 billion. During the same quarter in the prior year, the firm earned $0.81 earnings per share. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. On average, equities research analysts anticipate that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 5.13%. The ex-dividend date was Friday, February 14th. Truist Financial’s dividend payout ratio is presently 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.