NewEdge Advisors LLC Buys 2,443 Shares of Truist Financial Co. (NYSE:TFC)

NewEdge Advisors LLC raised its position in shares of Truist Financial Co. (NYSE:TFCFree Report) by 1.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 160,088 shares of the insurance provider’s stock after acquiring an additional 2,443 shares during the period. NewEdge Advisors LLC’s holdings in Truist Financial were worth $6,945,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Bangor Savings Bank boosted its stake in Truist Financial by 92.5% in the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 272 shares during the period. Hopwood Financial Services Inc. bought a new stake in shares of Truist Financial in the fourth quarter valued at about $26,000. Curio Wealth LLC acquired a new position in shares of Truist Financial in the fourth quarter valued at about $45,000. City State Bank increased its position in Truist Financial by 158.1% during 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 period. Finally, Brown Lisle Cummings Inc. acquired a new stake in Truist Financial in the 4th quarter worth about $55,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on TFC shares. Keefe, Bruyette & Woods increased their target price 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. Wells Fargo & Company lowered their price objective on Truist Financial from $52.00 to $50.00 and set an “overweight” rating on the stock in a research note on Friday, March 28th. Baird R W upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Morgan Stanley decreased their price target on Truist Financial from $50.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Monday, April 7th. Finally, 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. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Truist Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.22.

View Our Latest Stock Analysis on TFC

Truist Financial Trading Down 0.3 %

NYSE TFC opened at $35.88 on Friday. The company has a market cap of $46.83 billion, a price-to-earnings ratio of 10.77, a price-to-earnings-growth ratio of 1.63 and a beta of 0.91. 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’s fifty day moving average is $41.21 and its 200 day moving average is $43.78.

Truist Financial (NYSE:TFCGet Free Report) last announced its quarterly earnings results on Thursday, April 17th. The insurance provider reported $0.87 EPS for the quarter, meeting analysts’ consensus estimates of $0.87. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The firm had revenue of $4.95 billion for the quarter, compared to analyst estimates of $4.99 billion. During the same period last year, the firm posted $0.90 earnings per share. As a group, sell-side analysts expect that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 5.80%. The ex-dividend date was Friday, February 14th. Truist Financial’s payout ratio is 62.46%.

Truist Financial Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Truist Financial (NYSE:TFC)

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