Daiwa Securities Group Inc. Acquires 12,023 Shares of Truist Financial Co. (NYSE:TFC)

Daiwa Securities Group Inc. increased its stake in Truist Financial Co. (NYSE:TFC) by 7.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 175,396 shares of the insurance provider’s stock after acquiring an additional 12,023 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Truist Financial were worth $7,609,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Bangor Savings Bank increased its stake in Truist Financial by 92.5% in the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 272 shares in the last quarter. Valley Wealth Managers Inc. bought a new stake in Truist Financial in the 3rd quarter valued at about $26,000. MidAtlantic Capital Management Inc. acquired a new position in Truist Financial during the 3rd quarter worth approximately $32,000. Ashton Thomas Securities LLC bought a new position in Truist Financial in the third quarter worth approximately $45,000. Finally, City State Bank grew its stake in Truist Financial by 158.1% in the fourth quarter. City State Bank now owns 1,169 shares of the insurance provider’s stock valued at $51,000 after acquiring an additional 716 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Baird R W raised Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Citigroup upped 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. Robert W. Baird upgraded shares of Truist Financial from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $48.00 to $52.00 in a report on Wednesday, March 5th. Stephens upped their target price on shares of Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Finally, StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. Nine equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $51.16.

Truist Financial Stock Performance

Shares of TFC stock opened at $39.96 on Wednesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. The firm has a market cap of $52.16 billion, a price-to-earnings ratio of 12.00, a P/E/G 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 firm’s 50-day simple moving average is $45.60 and its two-hundred day simple moving average is $44.65.

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

Truist Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were paid a dividend of $0.52 per share. The ex-dividend date was Friday, February 14th. This represents a $2.08 annualized dividend and a dividend yield of 5.21%. Truist Financial’s payout ratio is 62.46%.

About Truist Financial

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.