Charles Schwab Investment Management Inc. Decreases Position in Truist Financial Co. (NYSE:TFC)

Charles Schwab Investment Management Inc. trimmed its holdings in shares of Truist Financial Co. (NYSE:TFC) by 0.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,450,966 shares of the insurance provider’s stock after selling 269 shares during the period. Charles Schwab Investment Management Inc. owned about 1.31% of Truist Financial worth $757,023,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Steward Partners Investment Advisory LLC boosted its holdings in Truist Financial by 395.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 260,612 shares of the insurance provider’s stock valued at $11,305,000 after acquiring an additional 207,993 shares during the period. Fidelis Capital Partners LLC purchased a new stake in shares of Truist Financial during the fourth quarter valued at approximately $210,000. SBI Securities Co. Ltd. bought a new position in shares of Truist Financial in the fourth quarter worth approximately $104,000. Jones Financial Companies Lllp increased its stake in shares of Truist Financial by 38.1% in the fourth quarter. Jones Financial Companies Lllp now owns 838,890 shares of the insurance provider’s stock worth $36,391,000 after buying an additional 231,288 shares during the period. Finally, SRS Capital Advisors Inc. raised its holdings in Truist Financial by 106.7% during the 4th quarter. SRS Capital Advisors Inc. now owns 7,363 shares of the insurance provider’s stock valued at $319,000 after buying an additional 3,801 shares during the last quarter. 71.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

TFC has been the topic of a number of analyst reports. Morgan Stanley boosted their price objective on shares of Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. Stephens raised their target price on shares of Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Compass Point boosted their price target on shares of Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Citigroup raised their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a report on Monday, November 25th. Finally, Raymond James upped their target price on Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Eleven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.79.

Truist Financial Stock Down 3.7 %

Shares of Truist Financial stock opened at $43.75 on Wednesday. The company has a 50-day simple moving average of $45.81 and a two-hundred day simple moving average of $44.69. The stock has a market capitalization of $57.10 billion, a PE ratio of 13.14, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. Truist Financial Co. has a 52-week low of $34.51 and a 52-week high of $49.06. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83.

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

Truist Financial Dividend Announcement

The firm 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. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.75%. The ex-dividend date of this dividend was Friday, February 14th. Truist Financial’s payout ratio 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.