Mizuho Securities USA LLC Purchases 38,983 Shares of Truist Financial Co. (NYSE:TFC)

Mizuho Securities USA LLC boosted its position in Truist Financial Co. (NYSE:TFC) by 44.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 125,819 shares of the insurance provider’s stock after acquiring an additional 38,983 shares during the period. Mizuho Securities USA LLC’s holdings in Truist Financial were worth $5,458,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Bangor Savings Bank increased its holdings in shares of Truist Financial by 92.5% during 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. Hopwood Financial Services Inc. acquired a new position in shares of Truist Financial during the fourth quarter valued at about $26,000. Curio Wealth LLC acquired a new position in shares of Truist Financial during the fourth quarter valued at about $45,000. True Wealth Design LLC acquired a new position in shares of Truist Financial during the third quarter valued at about $51,000. Finally, City State Bank increased its holdings in shares of Truist Financial by 158.1% during 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. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Trading Up 0.2 %

Shares of NYSE:TFC opened at $41.41 on Friday. Truist Financial Co. has a 1 year low of $35.09 and a 1 year high of $49.06. The firm has a market capitalization of $54.05 billion, a price-to-earnings ratio of 12.43, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. 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 business’s 50 day moving average price is $45.12 and its 200-day moving average price is $44.45.

Truist Financial (NYSE:TFC) last announced its earnings results 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 return on equity of 9.32% and a net margin of 15.59%. The firm had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.05 billion. During the same quarter last year, the firm posted $0.81 EPS. The business’s revenue was up 3.4% on a year-over-year basis. On average, equities research analysts forecast that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 5.02%. The ex-dividend date of this dividend was Friday, February 14th. Truist Financial’s dividend payout ratio is currently 62.46%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on TFC. Morgan Stanley upped their price objective on shares of Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. Keefe, Bruyette & Woods upped their price objective on shares of Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Tuesday, January 21st. Citigroup increased their price target on shares of Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a report on Monday, November 25th. StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, January 17th. Finally, Piper Sandler increased their price target on shares of Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Nine investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $51.16.

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.