Marietta Investment Partners LLC Has $1.65 Million Holdings in Truist Financial Co. (NYSE:TFC)

Marietta Investment Partners LLC increased its position in shares of Truist Financial Co. (NYSE:TFC) by 75.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,078 shares of the insurance provider’s stock after acquiring an additional 16,333 shares during the quarter. Marietta Investment Partners LLC’s holdings in Truist Financial were worth $1,652,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. increased its stake in Truist Financial by 48.7% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,963 shares of the insurance provider’s stock valued at $129,000 after buying 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 valued at $64,638,000 after buying an additional 50,637 shares during the period. Cadence Bank increased its stake in Truist Financial by 101.6% in the 3rd quarter. Cadence Bank now owns 185,184 shares of the insurance provider’s stock valued at $7,920,000 after buying an additional 93,322 shares during the period. Country Club Bank increased its stake in Truist Financial by 719.8% in 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 during the period. Finally, David Wealth Management LLC acquired a new position in Truist Financial in the 4th quarter valued at approximately $2,354,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TFC. Baird R W upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. The Goldman Sachs Group boosted their target price 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. Citigroup boosted their target price on shares of Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. Hsbc Global Res raised shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Finally, Barclays boosted their target price on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Nine investment 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’s stock. According to data from MarketBeat, Truist Financial has a consensus rating of “Moderate Buy” and a consensus target price of $51.16.

Truist Financial Trading Up 0.2 %

Shares of TFC stock opened at $41.41 on Friday. Truist Financial Co. has a 52-week low of $35.09 and a 52-week high of $49.06. The stock has a market cap of $54.05 billion, a price-to-earnings ratio of 12.43, 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 quick ratio of 0.83 and a current ratio of 0.83. The firm has a fifty day moving average of $45.12 and a 200-day moving average of $44.45.

Truist Financial (NYSE:TFC) last announced its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. The business had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter last year, the company posted $0.81 EPS. On average, equities research analysts forecast that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company also recently announced 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 dividend yield of 5.02%. The ex-dividend date of this dividend was Friday, February 14th. Truist Financial’s dividend payout ratio (DPR) is currently 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.