Truist Financial Co. (NYSE:TFC) Holdings Boosted by 1ST Source Bank

1ST Source Bank boosted its holdings in Truist Financial Co. (NYSE:TFC) by 19.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,735 shares of the insurance provider’s stock after acquiring an additional 1,272 shares during the period. 1ST Source Bank’s holdings in Truist Financial were worth $336,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of TFC. Bangor Savings Bank lifted its holdings 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 during the last quarter. Hopwood Financial Services Inc. bought a new position in Truist Financial in the fourth quarter worth about $26,000. MidAtlantic Capital Management Inc. bought a new position in Truist Financial in the third quarter worth about $32,000. True Wealth Design LLC bought a new position in Truist Financial in the third quarter worth about $51,000. Finally, City State Bank lifted its holdings 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 during the last quarter. Institutional investors own 71.28% of the company’s stock.

Truist Financial Trading Up 1.3 %

Shares of TFC opened at $41.08 on Tuesday. The business’s 50-day moving average price is $45.32 and its 200 day moving average price 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 stock 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 Co. has a 1-year low of $34.51 and a 1-year high of $49.06.

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, beating 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 business had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.05 billion. During the same quarter in the previous year, the business earned $0.81 earnings per share. The firm’s revenue was up 3.4% compared to the same quarter last year. Analysts expect that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a $0.52 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.08 annualized dividend and a dividend yield of 5.06%. Truist Financial’s dividend payout ratio (DPR) is presently 62.46%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TFC. Raymond James lifted their price target on Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Hsbc Global Res upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Barclays raised their price target on Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Stephens upped their price objective on shares of Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Finally, StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. Nine investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $51.16.

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.