Orion Portfolio Solutions LLC Purchases 2,702 Shares of Truist Financial Co. (NYSE:TFC)

Orion Portfolio Solutions LLC lifted its holdings in shares of Truist Financial Co. (NYSE:TFC) by 2.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 99,943 shares of the insurance provider’s stock after acquiring an additional 2,702 shares during the period. Orion Portfolio Solutions LLC’s holdings in Truist Financial were worth $4,336,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Bangor Savings Bank lifted its holdings in 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 buying an additional 272 shares in the last quarter. Hopwood Financial Services Inc. acquired a new position in Truist Financial in the fourth quarter valued at about $26,000. Curio Wealth LLC bought a new stake in Truist Financial during the 4th quarter worth approximately $45,000. True Wealth Design LLC bought a new position in Truist Financial during the 3rd quarter worth about $51,000. Finally, City State Bank grew 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 worth $51,000 after buying an additional 716 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on TFC shares. Piper Sandler boosted their price objective on shares of Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. HSBC upgraded Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Tuesday, January 7th. Barclays raised their price target on Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Robert W. Baird upgraded Truist Financial from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $48.00 to $52.00 in a research note on Wednesday, March 5th. Finally, Raymond James raised their target price on shares of Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Nine 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $50.68.

Truist Financial Stock Down 2.3 %

TFC opened at $40.46 on Monday. The stock has a fifty day moving average of $44.78 and a 200-day moving average of $44.44. The company has a market capitalization of $52.81 billion, a P/E ratio of 12.15, a P/E/G ratio of 1.63 and a beta of 1.08. Truist Financial Co. has a fifty-two week low of $35.09 and a fifty-two week high of $49.06. 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 posted its quarterly earnings data 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 net margin of 15.59% and a return on equity of 9.32%. The firm had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.05 billion. During the same quarter in the previous year, the firm posted $0.81 EPS. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, equities analysts expect that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Announces Dividend

The business 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. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.08 annualized dividend and a yield of 5.14%. 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.