14,535 Shares in Truist Financial Co. (NYSE:TFC) Acquired by First Financial Group Corp

First Financial Group Corp bought a new position in shares of Truist Financial Co. (NYSE:TFC) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 14,535 shares of the insurance provider’s stock, valued at approximately $631,000. Truist Financial accounts for about 0.7% of First Financial Group Corp’s portfolio, making the stock its 28th largest position.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bangor Savings Bank increased its holdings 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 acquiring an additional 272 shares during the period. Valley Wealth Managers Inc. purchased a new position in Truist Financial in the 3rd quarter worth approximately $26,000. Hopwood Financial Services Inc. purchased a new position in Truist Financial in the 4th quarter worth approximately $26,000. MidAtlantic Capital Management Inc. purchased a new position in Truist Financial in the 3rd quarter worth approximately $32,000. Finally, True Wealth Design LLC purchased a new position in Truist Financial in the 3rd quarter worth approximately $51,000. Institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Up 2.7 %

Shares of NYSE TFC opened at $40.54 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. Truist Financial Co. has a 12 month low of $34.51 and a 12 month high of $49.06. The firm has a market capitalization of $52.92 billion, a PE ratio of 12.17, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. The firm has a fifty day simple moving average of $45.38 and a two-hundred day simple moving average of $44.55.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.88 by $0.03. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The business had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.05 billion. During the same period in the prior year, the business earned $0.81 EPS. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. Equities analysts expect that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.08 annualized dividend and a dividend yield of 5.13%. Truist Financial’s payout ratio is 62.46%.

Analysts Set New Price Targets

A number of research firms have commented on TFC. Compass Point boosted their price target on shares of Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Stephens boosted their price target on shares of Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Wells Fargo & Company boosted their price target on shares of Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Baird R W raised shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Finally, Piper Sandler upped their price objective on shares of Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Nine equities research analysts have rated the stock with a hold rating, twelve 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.16.

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.