Callan Family Office LLC Takes $672,000 Position in Truist Financial Co. (NYSE:TFC)

Callan Family Office LLC acquired a new stake in Truist Financial Co. (NYSE:TFC) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 15,488 shares of the insurance provider’s stock, valued at approximately $672,000.

Several other hedge funds also recently modified their holdings of TFC. Raymond James Financial Inc. bought a new position in shares of Truist Financial in the 4th quarter valued at about $198,051,000. State Street Corp increased its position in Truist Financial by 4.6% during the third quarter. State Street Corp now owns 61,864,957 shares of the insurance provider’s stock worth $2,645,964,000 after buying an additional 2,720,223 shares during the last quarter. KBC Group NV increased its position in Truist Financial by 96.9% during the fourth quarter. KBC Group NV now owns 2,031,893 shares of the insurance provider’s stock worth $88,144,000 after buying an additional 999,763 shares during the last quarter. HighTower Advisors LLC increased its position in Truist Financial by 26.1% during the third quarter. HighTower Advisors LLC now owns 3,901,891 shares of the insurance provider’s stock worth $166,892,000 after buying an additional 807,648 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Truist Financial by 8.5% during the fourth quarter. Bank of New York Mellon Corp now owns 8,484,992 shares of the insurance provider’s stock worth $368,079,000 after buying an additional 662,179 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TFC. Raymond James boosted their price target on Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Hsbc Global Res raised Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Baird R W raised Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. Barclays boosted their price target on Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Finally, Robert W. Baird upgraded Truist Financial from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $48.00 to $52.00 in a report on Wednesday. Nine investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $51.16.

Truist Financial Stock Up 0.0 %

NYSE TFC opened at $42.25 on Friday. The business has a fifty day moving average price of $45.73 and a two-hundred day moving average price 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 Co. has a fifty-two week low of $34.51 and a fifty-two week high of $49.06. The stock has a market capitalization of $55.15 billion, a PE ratio of 12.69, a PEG ratio of 1.63 and a beta of 1.08.

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 firm had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The company’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.81 earnings per share. Equities analysts expect that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.08 annualized dividend and a dividend yield of 4.92%. Truist Financial’s dividend payout ratio (DPR) is presently 62.46%.

Truist Financial Company 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.