Huber Capital Management LLC Buys 50,000 Shares of Truist Financial Co. (NYSE:TFC)

Huber Capital Management LLC boosted its stake in shares of Truist Financial Co. (NYSE:TFC) by 38.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 181,464 shares of the insurance provider’s stock after purchasing an additional 50,000 shares during the period. Truist Financial accounts for approximately 1.6% of Huber Capital Management LLC’s portfolio, making the stock its 26th biggest position. Huber Capital Management LLC’s holdings in Truist Financial were worth $7,872,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in TFC. Bangor Savings Bank lifted its position in Truist Financial by 92.5% in the 4th 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. bought a new position in shares of Truist Financial during the fourth quarter valued at $26,000. Curio Wealth LLC purchased a new stake in shares of Truist Financial during the fourth quarter valued at $45,000. City State Bank increased its holdings in Truist Financial by 158.1% in the 4th 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. Finally, Brown Lisle Cummings Inc. purchased a new position in Truist Financial in the 4th quarter worth about $55,000. 71.28% of the stock is owned by institutional investors.

Truist Financial Stock Performance

NYSE TFC opened at $41.60 on Thursday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. Truist Financial Co. has a twelve month low of $35.09 and a twelve month high of $49.06. The business has a 50-day moving average price of $44.41 and a 200-day moving average price of $44.41. The firm has a market cap of $54.30 billion, a price-to-earnings ratio of 12.49, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08.

Truist Financial (NYSE:TFC) last announced 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 business had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.05 billion. During the same period last year, the firm posted $0.81 EPS. The company’s revenue was up 3.4% on a year-over-year basis. As a group, equities research analysts predict that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 5.00%. The ex-dividend date of this dividend was Friday, February 14th. Truist Financial’s payout ratio is currently 62.46%.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Stephens lifted their price target on shares of Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. Citigroup lowered their target price on Truist Financial from $51.00 to $44.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. Baird R W upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Finally, Wells Fargo & Company lowered their price objective on shares of Truist Financial from $52.00 to $50.00 and set an “overweight” rating on the stock in a research note on Friday, March 28th. Ten investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $50.68.

Truist Financial 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.