Ted Buchan & Co Buys 5,202 Shares of Truist Financial Co. (NYSE:TFC)

Ted Buchan & Co grew its stake in shares of Truist Financial Co. (NYSE:TFC) by 25.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 25,929 shares of the insurance provider’s stock after acquiring an additional 5,202 shares during the period. Ted Buchan & Co’s holdings in Truist Financial were worth $1,135,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. increased its holdings in Truist Financial by 48.7% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,963 shares of the insurance provider’s stock worth $129,000 after acquiring an additional 971 shares during the period. Principal Financial Group Inc. grew its position in shares of Truist Financial by 3.5% during the 3rd quarter. Principal Financial Group Inc. now owns 1,511,299 shares of the insurance provider’s stock valued at $64,638,000 after purchasing an additional 50,637 shares in the last quarter. Country Club Bank increased its holdings in shares of Truist Financial by 719.8% in the fourth quarter. Country Club Bank now owns 45,499 shares of the insurance provider’s stock worth $1,973,000 after purchasing an additional 39,949 shares during the period. David Wealth Management LLC purchased a new stake in shares of Truist Financial in the fourth quarter worth $2,354,000. Finally, Glass Wealth Management Co LLC boosted its stake in Truist Financial by 9.5% during the fourth quarter. Glass Wealth Management Co LLC now owns 67,978 shares of the insurance provider’s stock valued at $2,949,000 after buying an additional 5,900 shares during the period. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Stock Down 6.0 %

Shares of Truist Financial stock opened at $34.80 on Friday. 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 Co. has a 52-week low of $33.71 and a 52-week high of $49.06. The company’s 50 day moving average price is $43.97 and its 200-day moving average price is $44.30. The stock has a market capitalization of $45.43 billion, a price-to-earnings ratio of 10.45, a P/E/G ratio of 1.63 and a beta of 0.91.

Truist Financial (NYSE:TFC) last released 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. The firm had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.81 earnings per share. Equities research analysts forecast that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a $0.52 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.98%. Truist Financial’s dividend payout ratio is currently 62.46%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on TFC shares. HSBC raised Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a report on Tuesday, January 7th. JPMorgan Chase & Co. lowered their target price on shares of Truist Financial from $48.00 to $42.00 and set a “neutral” rating on the stock in a research note on Thursday. Robert W. Baird raised shares of Truist Financial from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $48.00 to $52.00 in a research note on Wednesday, March 5th. Compass Point raised their price objective on shares of Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Finally, Hsbc Global Res upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, nine have given a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $50.42.

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.