Keybank National Association OH Cuts Position in Truist Financial Co. (NYSE:TFC)

Keybank National Association OH cut its stake in Truist Financial Co. (NYSE:TFC) by 5.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 93,994 shares of the insurance provider’s stock after selling 5,262 shares during the period. Keybank National Association OH’s holdings in Truist Financial were worth $4,077,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bangor Savings Bank grew its position in Truist Financial by 92.5% in the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock worth $25,000 after acquiring an additional 272 shares in the last quarter. Valley Wealth Managers Inc. purchased a new position in Truist Financial in the third quarter worth $26,000. MidAtlantic Capital Management Inc. purchased a new position in Truist Financial in the third quarter worth $32,000. Ashton Thomas Securities LLC purchased a new position in Truist Financial in the third quarter worth $45,000. Finally, City State Bank grew its position in Truist Financial by 158.1% in the fourth quarter. City State Bank now owns 1,169 shares of the insurance provider’s stock worth $51,000 after acquiring an additional 716 shares in the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TFC has been the subject of several analyst reports. Raymond James upped their price target on shares of Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Citigroup upped their price target on shares of Truist Financial from $47.00 to $51.00 and gave the company a “neutral” rating in a research report on Monday, November 25th. Robert W. Baird upgraded shares of Truist Financial from a “neutral” rating to an “outperform” rating and upped their price target for the company from $48.00 to $52.00 in a research report on Wednesday. Stephens upped their price target on shares of Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Finally, Morgan Stanley upped their price target on shares of Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. Ten investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $51.16.

Truist Financial Price Performance

TFC stock opened at $43.11 on Thursday. Truist Financial Co. has a 1 year low of $34.51 and a 1 year high of $49.06. The company has a market cap of $56.27 billion, a P/E ratio of 12.94, a PEG ratio of 1.63 and a beta of 1.08. The firm has a 50-day moving average of $45.79 and a 200 day moving average of $44.67. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping 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 company had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.05 billion. During the same period in the prior year, the firm earned $0.81 earnings per share. Truist Financial’s revenue was up 3.4% on a year-over-year basis. On average, sell-side analysts forecast that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a yield of 4.83%. The ex-dividend date was Friday, February 14th. Truist Financial’s payout ratio is currently 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.