Mindset Wealth Management LLC Has $1.52 Million Position in Truist Financial Co. (NYSE:TFC)

Mindset Wealth Management LLC reduced its stake in shares of Truist Financial Co. (NYSE:TFC) by 4.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 35,110 shares of the insurance provider’s stock after selling 1,736 shares during the period. Truist Financial makes up approximately 0.6% of Mindset Wealth Management LLC’s holdings, making the stock its 13th biggest holding. Mindset Wealth Management LLC’s holdings in Truist Financial were worth $1,523,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Tradewinds LLC. boosted its holdings in shares of Truist Financial by 0.5% in the 3rd quarter. Tradewinds LLC. now owns 44,513 shares of the insurance provider’s stock valued at $1,904,000 after purchasing an additional 222 shares in the last quarter. PBMares Wealth Management LLC boosted its stake in Truist Financial by 0.8% in the fourth quarter. PBMares Wealth Management LLC now owns 29,270 shares of the insurance provider’s stock valued at $1,270,000 after buying an additional 224 shares in the last quarter. Koshinski Asset Management Inc. grew its position in Truist Financial by 2.1% in the fourth quarter. Koshinski Asset Management Inc. now owns 10,825 shares of the insurance provider’s stock valued at $470,000 after acquiring an additional 225 shares during the last quarter. Aaron Wealth Advisors LLC raised its stake in Truist Financial by 3.0% during the fourth quarter. Aaron Wealth Advisors LLC now owns 7,712 shares of the insurance provider’s stock worth $335,000 after acquiring an additional 227 shares in the last quarter. Finally, FWG Holdings LLC lifted its holdings in shares of Truist Financial by 4.3% in the fourth quarter. FWG Holdings LLC now owns 5,694 shares of the insurance provider’s stock worth $267,000 after acquiring an additional 234 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Truist Financial Price Performance

Shares of NYSE TFC opened at $41.32 on Friday. The firm has a market cap of $53.94 billion, a price-to-earnings ratio of 12.41, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. The stock has a fifty day simple moving average of $45.15 and a two-hundred day simple moving average of $44.47. 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 1-year low of $35.09 and a 1-year high of $49.06.

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 the consensus estimate of $0.88 by $0.03. The company had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.81 EPS. Analysts anticipate that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a yield of 5.03%. Truist Financial’s dividend payout ratio (DPR) is 62.46%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TFC. Compass Point boosted their price objective on Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. The Goldman Sachs Group upped their price objective on Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Barclays lifted their target price on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. Raymond James increased their price target on Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, Robert W. Baird upgraded Truist Financial from a “neutral” rating to an “outperform” rating and upped their target price for the company from $48.00 to $52.00 in a research report on Wednesday, March 5th. Nine equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Truist Financial has a consensus rating of “Moderate Buy” and a consensus target price of $51.16.

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.