Associated Banc Corp Buys 467 Shares of Truist Financial Co. (NYSE:TFC)

Associated Banc Corp grew its stake in Truist Financial Co. (NYSE:TFC) by 0.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 141,453 shares of the insurance provider’s stock after purchasing an additional 467 shares during the quarter. Associated Banc Corp’s holdings in Truist Financial were worth $6,136,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. First National Trust Co grew its stake in Truist Financial by 3.4% in the 4th quarter. First National Trust Co now owns 212,428 shares of the insurance provider’s stock worth $9,215,000 after acquiring an additional 7,069 shares in the last quarter. First Eagle Investment Management LLC boosted its stake in shares of Truist Financial by 257.1% during the fourth quarter. First Eagle Investment Management LLC now owns 85,143 shares of the insurance provider’s stock valued at $3,694,000 after purchasing an additional 61,302 shares in the last quarter. Wellington Shields Capital Management LLC boosted its stake in shares of Truist Financial by 3.4% during the fourth quarter. Wellington Shields Capital Management LLC now owns 81,037 shares of the insurance provider’s stock valued at $3,515,000 after purchasing an additional 2,644 shares in the last quarter. LBP AM SA boosted its stake in shares of Truist Financial by 500.8% during the fourth quarter. LBP AM SA now owns 166,951 shares of the insurance provider’s stock valued at $7,242,000 after purchasing an additional 139,162 shares in the last quarter. Finally, Parnassus Investments LLC boosted its stake in shares of Truist Financial by 9.0% during the fourth quarter. Parnassus Investments LLC now owns 2,141,993 shares of the insurance provider’s stock valued at $92,920,000 after purchasing an additional 175,989 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Trading Up 2.7 %

NYSE TFC opened at $40.54 on Friday. The company has a fifty day simple moving average of $45.38 and a two-hundred day simple moving average of $44.55. The stock has a market cap of $52.92 billion, a P/E ratio of 12.17, a P/E/G ratio of 1.63 and a beta of 1.08. Truist Financial Co. has a 12-month low of $34.51 and a 12-month 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.

Truist Financial (NYSE:TFC) last issued its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (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 firm had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.05 billion. During the same quarter last year, the company posted $0.81 earnings per share. The firm’s revenue was up 3.4% compared to the same quarter last year. On average, analysts forecast that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued 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 5.13%. Truist Financial’s dividend payout ratio (DPR) is presently 62.46%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on TFC shares. Barclays increased their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Raymond James increased their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. 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. Morgan Stanley increased 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 note on Tuesday, January 21st. Finally, HSBC raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research report on Tuesday, January 7th. Nine equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has an average 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.