Truist Financial Co. (NYSE:TFC) Stock Position Decreased by Gabelli Funds LLC

Gabelli Funds LLC lowered its holdings in Truist Financial Co. (NYSE:TFC) by 1.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 16,700 shares of the insurance provider’s stock after selling 300 shares during the period. Gabelli Funds LLC’s holdings in Truist Financial were worth $724,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. Bangor Savings Bank grew its stake in Truist Financial by 92.5% during the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock worth $25,000 after buying an additional 272 shares during the last quarter. Hopwood Financial Services Inc. acquired a new position in shares of Truist Financial during the fourth quarter valued at $26,000. Curio Wealth LLC bought a new position in shares of Truist Financial during the fourth quarter worth about $45,000. City State Bank increased its holdings in shares of Truist Financial by 158.1% in the 4th 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. bought a new stake in Truist Financial in the 4th quarter valued at about $55,000. 71.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TFC. Hsbc Global Res upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. JPMorgan Chase & Co. lowered their target price on Truist Financial from $48.00 to $42.00 and set a “neutral” rating on the stock in a research report on Thursday, April 3rd. Morgan Stanley decreased their price target on Truist Financial from $50.00 to $43.00 and set an “equal weight” rating for the company in a research note on Monday, April 7th. 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. Finally, StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Sunday. Nine research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given 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 an average target price of $50.22.

Truist Financial Trading Down 0.3 %

Shares of TFC opened at $35.88 on Friday. The business’s 50-day moving average price is $41.21 and its 200 day moving average price is $43.79. Truist Financial Co. has a 1-year low of $33.56 and a 1-year high of $49.06. 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 $46.83 billion, a P/E ratio of 10.77, a P/E/G ratio of 1.63 and a beta of 0.91.

Truist Financial (NYSE:TFC) last issued its earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.87. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The company had revenue of $4.95 billion during the quarter, compared to analyst estimates of $4.99 billion. During the same quarter last year, the business posted $0.90 EPS. Analysts expect that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 5.80%. The ex-dividend date was Friday, February 14th. Truist Financial’s payout ratio is currently 61.36%.

Truist Financial 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.