ExodusPoint Capital Management LP Takes $40.65 Million Position in Truist Financial Co. (NYSE:TFC)

ExodusPoint Capital Management LP acquired a new position in Truist Financial Co. (NYSE:TFC) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 937,081 shares of the insurance provider’s stock, valued at approximately $40,651,000.

Other hedge funds have also recently bought and sold shares of the company. Bangor Savings Bank boosted its stake in shares of 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. acquired a new stake in Truist Financial in the 4th quarter worth approximately $26,000. Curio Wealth LLC bought a new stake in Truist Financial during the fourth quarter worth approximately $45,000. City State Bank grew its holdings in Truist Financial by 158.1% during the fourth 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 last quarter. Finally, Brown Lisle Cummings Inc. bought a new position in shares of Truist Financial in the fourth quarter valued at approximately $55,000. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Stock Up 1.4 %

NYSE TFC opened at $41.60 on Thursday. Truist Financial Co. has a 1-year low of $35.09 and a 1-year high of $49.06. The company has a market capitalization of $54.30 billion, a price-to-earnings ratio of 12.49, a PEG ratio of 1.63 and a beta of 1.08. The stock’s 50 day moving average is $44.41 and its two-hundred day moving average is $44.41. 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 announced its quarterly earnings results 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 analyst estimates of $5.05 billion. During the same quarter in the previous year, the firm earned $0.81 EPS. Truist Financial’s quarterly revenue was up 3.4% on a year-over-year basis. Equities analysts forecast that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company also recently declared 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. This represents a $2.08 annualized dividend and a yield of 5.00%. The ex-dividend date was Friday, February 14th. Truist Financial’s dividend payout ratio is currently 62.46%.

Analyst Ratings Changes

TFC has been the subject of several recent analyst reports. Hsbc Global Res raised shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. Raymond James cut Truist Financial from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Morgan Stanley raised their target price on Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. Finally, HSBC upgraded Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a report on Tuesday, January 7th. Ten analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Truist Financial has an average rating of “Moderate Buy” and an average price target of $50.68.

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.