Larson Financial Group LLC Raises Position in Truist Financial Co. (NYSE:TFC)

Larson Financial Group LLC raised its holdings in Truist Financial Co. (NYSE:TFC) by 24.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,841 shares of the insurance provider’s stock after buying an additional 358 shares during the period. Larson Financial Group LLC’s holdings in Truist Financial were worth $80,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TFC. Assetmark Inc. boosted its position in Truist Financial by 15.9% in the 3rd quarter. Assetmark Inc. now owns 46,598 shares of the insurance provider’s stock valued at $1,993,000 after buying an additional 6,407 shares during the period. Sigma Planning Corp lifted its position in shares of Truist Financial by 5.7% during the 3rd quarter. Sigma Planning Corp now owns 20,467 shares of the insurance provider’s stock worth $875,000 after purchasing an additional 1,106 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Truist Financial during the 3rd quarter worth $45,000. Venturi Wealth Management LLC lifted its position in shares of Truist Financial by 6.2% during the 3rd quarter. Venturi Wealth Management LLC now owns 10,229 shares of the insurance provider’s stock worth $437,000 after purchasing an additional 599 shares during the last quarter. Finally, Apollon Wealth Management LLC lifted its position in shares of Truist Financial by 14.3% during the 3rd quarter. Apollon Wealth Management LLC now owns 49,157 shares of the insurance provider’s stock worth $2,102,000 after purchasing an additional 6,136 shares during the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Trading Down 0.3 %

NYSE TFC opened at $39.80 on Thursday. 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 firm has a market cap of $51.95 billion, a PE ratio of 11.95, a P/E/G ratio of 1.63 and a beta of 1.08. Truist Financial Co. has a one year low of $34.51 and a one year high of $49.06. The firm’s fifty day moving average is $45.53 and its two-hundred day moving average is $44.62.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. The company had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. Truist Financial’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.81 earnings per share. Analysts expect that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were paid a dividend of $0.52 per share. The ex-dividend date was Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.23%. Truist Financial’s dividend payout ratio (DPR) is 62.46%.

Analysts Set New Price Targets

Several research firms have recently issued reports on TFC. Baird R W raised shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Robert W. Baird raised shares of Truist Financial from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $48.00 to $52.00 in a research report on Wednesday, March 5th. Piper Sandler lifted their price objective on shares of Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Stephens lifted their price objective on shares of Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 21st. Nine research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Truist Financial currently has an average 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.