Thoroughbred Financial Services LLC Has $204,000 Stock Position in Truist Financial Co. (NYSE:TFC)

Thoroughbred Financial Services LLC decreased its holdings in Truist Financial Co. (NYSE:TFC) by 5.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,705 shares of the insurance provider’s stock after selling 296 shares during the period. Thoroughbred Financial Services LLC’s holdings in Truist Financial were worth $204,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in TFC. Geode Capital Management LLC lifted its holdings in Truist Financial by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 27,975,691 shares of the insurance provider’s stock valued at $1,210,348,000 after purchasing an additional 534,740 shares during the last quarter. Amundi lifted its stake in shares of Truist Financial by 6.5% during the 4th quarter. Amundi now owns 23,683,345 shares of the insurance provider’s stock worth $1,040,718,000 after buying an additional 1,450,323 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Truist Financial by 7.9% during the 4th quarter. American Century Companies Inc. now owns 9,882,885 shares of the insurance provider’s stock worth $428,720,000 after buying an additional 722,749 shares during the period. Norges Bank acquired a new position in Truist Financial in the 4th quarter valued at about $402,828,000. Finally, Bank of New York Mellon Corp raised its holdings in Truist Financial by 8.5% in the 4th quarter. Bank of New York Mellon Corp now owns 8,484,992 shares of the insurance provider’s stock valued at $368,079,000 after acquiring an additional 662,179 shares during the period. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Price Performance

Shares of TFC stock opened at $35.11 on Tuesday. Truist Financial Co. has a twelve month low of $33.56 and a twelve month high of $49.06. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. The business has a fifty day simple moving average of $43.72 and a 200 day simple moving average of $44.28. The company has a market cap of $45.83 billion, a P/E ratio of 10.54, a P/E/G ratio of 1.63 and a beta of 0.91.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share 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 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 company posted $0.81 EPS. On average, sell-side analysts forecast that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

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 5.92%. Truist Financial’s dividend payout ratio (DPR) is presently 62.46%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on TFC shares. Barclays boosted their price objective on Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Robert W. Baird upgraded Truist Financial from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $48.00 to $52.00 in a research note on Wednesday, March 5th. HSBC upgraded Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research report on Tuesday, January 7th. Stephens boosted their target price 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. Finally, Morgan Stanley lowered their price target on shares of Truist Financial from $50.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Monday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $49.74.

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.