Truist Financial Co. (NYSE:TFC) Shares Bought by TCTC Holdings LLC

TCTC Holdings LLC raised its position in Truist Financial Co. (NYSE:TFC) by 28.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,310 shares of the insurance provider’s stock after buying an additional 287 shares during the period. TCTC Holdings LLC’s holdings in Truist Financial were worth $57,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of TFC. Raymond James Financial Inc. acquired a new position in shares of Truist Financial during the 4th quarter worth approximately $198,051,000. State Street Corp boosted its holdings in shares of Truist Financial by 4.6% during the 3rd quarter. State Street Corp now owns 61,864,957 shares of the insurance provider’s stock worth $2,645,964,000 after purchasing an additional 2,720,223 shares during the last quarter. Amundi boosted its holdings in shares of Truist Financial by 6.5% during the 4th quarter. Amundi now owns 23,683,345 shares of the insurance provider’s stock worth $1,040,718,000 after purchasing an additional 1,450,323 shares during the last quarter. KBC Group NV boosted its holdings in shares of Truist Financial by 96.9% during the 4th quarter. KBC Group NV now owns 2,031,893 shares of the insurance provider’s stock worth $88,144,000 after purchasing an additional 999,763 shares during the last quarter. Finally, HighTower Advisors LLC boosted its holdings in shares of Truist Financial by 26.1% during the 3rd quarter. HighTower Advisors LLC now owns 3,901,891 shares of the insurance provider’s stock worth $166,892,000 after purchasing an additional 807,648 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Stock Up 1.3 %

Truist Financial stock opened at $41.08 on Tuesday. Truist Financial Co. has a twelve month low of $34.51 and a twelve month high of $49.06. The stock’s fifty day simple moving average is $45.32 and its 200-day simple moving average is $44.54. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $53.62 billion, a P/E ratio of 12.34, a P/E/G ratio of 1.63 and a beta of 1.08.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, topping 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 business had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.05 billion. During the same quarter in the prior year, the company earned $0.81 earnings per share. The company’s revenue was up 3.4% on a year-over-year basis. As a group, equities analysts expect that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.06%. The ex-dividend date was Friday, February 14th. Truist Financial’s dividend payout ratio is currently 62.46%.

Wall Street Analyst Weigh In

TFC has been the topic of several recent research reports. The Goldman Sachs Group boosted their target price on Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Citigroup upped their price objective on Truist Financial from $47.00 to $51.00 and gave the company a “neutral” rating in a report on Monday, November 25th. Hsbc Global Res upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Stephens upped their price objective on Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Finally, Piper Sandler upped their price objective on Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Nine equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.16.

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.