Truist Financial Co. (NYSE:TFC) Shares Acquired by Xponance Inc.

Xponance Inc. increased its holdings in Truist Financial Co. (NYSE:TFC) by 6.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 357,578 shares of the insurance provider’s stock after buying an additional 22,136 shares during the period. Xponance Inc.’s holdings in Truist Financial were worth $15,512,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of TFC. Harbour Investments Inc. boosted its holdings in shares of Truist Financial by 14.2% in the 3rd quarter. Harbour Investments Inc. now owns 4,313 shares of the insurance provider’s stock valued at $184,000 after buying an additional 537 shares during the period. Natixis Advisors LLC lifted its position in Truist Financial by 7.3% in the 3rd quarter. Natixis Advisors LLC now owns 451,576 shares of the insurance provider’s stock valued at $19,314,000 after purchasing an additional 30,626 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in Truist Financial by 17.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 82,255 shares of the insurance provider’s stock valued at $3,518,000 after purchasing an additional 12,300 shares during the last quarter. Quest Partners LLC lifted its position in Truist Financial by 81.1% in the 3rd quarter. Quest Partners LLC now owns 4,754 shares of the insurance provider’s stock valued at $203,000 after purchasing an additional 2,129 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC lifted its position in Truist Financial by 24.0% in the 3rd quarter. Cassaday & Co Wealth Management LLC now owns 13,530 shares of the insurance provider’s stock valued at $579,000 after purchasing an additional 2,617 shares during the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on TFC shares. Citigroup lifted their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the company a “neutral” rating in a research report on Monday, November 25th. Stephens lifted their price objective on shares of Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. The Goldman Sachs Group boosted their price target on shares of Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. HSBC upgraded shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods boosted their price target 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 investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.16.

Truist Financial Stock Performance

Shares of TFC opened at $40.84 on Wednesday. The firm’s 50 day moving average is $45.26 and its 200-day moving average is $44.52. The stock has a market capitalization of $53.32 billion, a P/E ratio of 12.27, a P/E/G ratio of 1.63 and a beta of 1.08. 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 12-month low of $35.06 and a 12-month high of $49.06.

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 business 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%. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period last year, the firm posted $0.81 earnings per share. Equities research analysts anticipate that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors 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 yield of 5.09%. The ex-dividend date of this dividend was Friday, February 14th. Truist Financial’s payout ratio 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.