Savant Capital LLC raised its position in Truist Financial Co. (NYSE:TFC – Free Report) by 93.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 49,310 shares of the insurance provider’s stock after buying an additional 23,808 shares during the quarter. Savant Capital LLC’s holdings in Truist Financial were worth $1,411,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. EPG Wealth Management LLC lifted its stake in Truist Financial by 1.8% in the fourth quarter. EPG Wealth Management LLC now owns 12,219 shares of the insurance provider’s stock valued at $526,000 after buying an additional 213 shares during the last quarter. Williams Jones Wealth Management LLC. raised its stake in shares of Truist Financial by 5.8% during the first quarter. Williams Jones Wealth Management LLC. now owns 4,850 shares of the insurance provider’s stock worth $275,000 after purchasing an additional 268 shares during the last quarter. Financial Advocates Investment Management raised its stake in shares of Truist Financial by 3.5% during the fourth quarter. Financial Advocates Investment Management now owns 9,071 shares of the insurance provider’s stock worth $390,000 after purchasing an additional 306 shares during the last quarter. Cape Investment Advisory Inc. raised its stake in shares of Truist Financial by 7.4% during the third quarter. Cape Investment Advisory Inc. now owns 4,849 shares of the insurance provider’s stock worth $139,000 after purchasing an additional 335 shares during the last quarter. Finally, SVB Wealth LLC raised its stake in shares of Truist Financial by 7.9% during the second quarter. SVB Wealth LLC now owns 4,568 shares of the insurance provider’s stock worth $217,000 after purchasing an additional 335 shares during the last quarter. Hedge funds and other institutional investors own 71.11% of the company’s stock.
Truist Financial Stock Up 0.2 %
Truist Financial stock opened at $38.18 on Wednesday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market capitalization of $50.92 billion, a price-to-earnings ratio of -35.35, a price-to-earnings-growth ratio of 1.60 and a beta of 1.11. Truist Financial Co. has a fifty-two week low of $25.56 and a fifty-two week high of $50.57. The stock’s fifty day moving average is $35.74 and its two-hundred day moving average is $31.99.
Truist Financial (NYSE:TFC – Get Free Report) last posted its earnings results on Thursday, January 18th. The insurance provider reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.13. The company had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.70 billion. Truist Financial had a positive return on equity of 9.64% and a negative net margin of 3.28%. During the same quarter in the prior year, the company earned $1.30 earnings per share. Analysts predict that Truist Financial Co. will post 3.41 EPS for the current fiscal year.
Truist Financial Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Friday, February 9th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.45%. The ex-dividend date is Thursday, February 8th. Truist Financial’s payout ratio is currently -192.59%.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on the company. Royal Bank of Canada upped their price target on Truist Financial from $40.00 to $42.00 and gave the stock an “outperform” rating in a research note on Friday, January 19th. Bank of America upgraded Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 price target for the company in a research note on Thursday, January 4th. Raymond James upped their price target on Truist Financial from $34.00 to $41.00 and gave the stock an “outperform” rating in a research note on Friday, January 5th. Morgan Stanley upped their price objective on Truist Financial from $38.00 to $43.00 and gave the stock an “equal weight” rating in a report on Tuesday. Finally, TheStreet raised Truist Financial from a “c+” rating to a “b-” rating in a report on Tuesday, January 9th. Ten investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $39.87.
Read Our Latest Analysis on Truist Financial
Truist Financial Profile
Truist Financial Corporation, a holding 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.
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