Truist Financial Co. (NYSE:TFC) Shares Purchased by HighPoint Advisor Group LLC

HighPoint Advisor Group LLC grew its stake in shares of Truist Financial Co. (NYSE:TFC) by 11.6% during the fourth quarter, Holdings Channel reports. The firm owned 27,673 shares of the insurance provider’s stock after purchasing an additional 2,882 shares during the period. HighPoint Advisor Group LLC’s holdings in Truist Financial were worth $1,310,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Bangor Savings Bank raised its stake 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 in the last quarter. Hopwood Financial Services Inc. purchased a new position in shares of Truist Financial during the fourth quarter worth about $26,000. Curio Wealth LLC acquired a new stake in shares of Truist Financial during the fourth quarter worth about $45,000. True Wealth Design LLC acquired a new stake in shares of Truist Financial during the third quarter worth about $51,000. Finally, City State Bank boosted its position in shares of Truist Financial by 158.1% in the 4th quarter. City State Bank now owns 1,169 shares of the insurance provider’s stock valued at $51,000 after purchasing an additional 716 shares during the period. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on TFC shares. StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. HSBC upgraded shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research report on Tuesday, January 7th. Compass Point raised their price objective on shares of Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Wells Fargo & Company reduced their target price on shares of Truist Financial from $52.00 to $50.00 and set an “overweight” rating for the company in a report on Friday. Finally, Robert W. Baird raised Truist Financial from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $48.00 to $52.00 in a report on Wednesday, March 5th. Nine 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $50.68.

Truist Financial Trading Up 1.7 %

Shares of TFC stock opened at $41.16 on Tuesday. The business’s fifty day moving average price is $44.65 and its 200 day moving average price is $44.43. The firm has a market capitalization of $53.74 billion, a PE ratio of 12.36, a P/E/G ratio of 1.63 and a beta of 1.08. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. Truist Financial Co. has a 1-year low of $35.09 and a 1-year high of $49.06.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results 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 business had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5.05 billion. During the same period in the prior year, the company posted $0.81 EPS. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. As a group, sell-side analysts forecast that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

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. This represents a $2.08 annualized dividend and a dividend yield of 5.05%. The ex-dividend date of this dividend was Friday, February 14th. Truist Financial’s dividend payout ratio (DPR) is 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.