TIAA Trust National Association Purchases 283 Shares of Truist Financial Co. (NYSE:TFC)

TIAA Trust National Association lifted its holdings in Truist Financial Co. (NYSE:TFC) by 1.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 23,822 shares of the insurance provider’s stock after purchasing an additional 283 shares during the period. TIAA Trust National Association’s holdings in Truist Financial were worth $1,033,000 at the end of the most recent quarter.

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

Truist Financial Price Performance

Shares of NYSE TFC opened at $41.42 on Friday. 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. The company has a market cap of $54.07 billion, a PE ratio of 12.44, a P/E/G ratio of 1.63 and a beta of 1.08. The business has a 50-day simple moving average of $44.93 and a two-hundred day simple moving average of $44.41.

Truist Financial (NYSE:TFC) last released its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.03. The company had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.05 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. Truist Financial’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.81 EPS. As a group, equities analysts expect that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a yield of 5.02%. Truist Financial’s dividend payout ratio is currently 62.46%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on TFC shares. HSBC upgraded Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a report on Tuesday, January 7th. Morgan Stanley increased their price target on Truist Financial from $55.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. Baird R W upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Raymond James increased their target price on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, Stephens boosted their price target on shares of Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Nine research 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. According to MarketBeat, Truist Financial presently has an average rating of “Moderate Buy” and an average price target of $50.79.

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.