Tweedy Browne Co LLC decreased its position in Truist Financial Co. (NYSE:TFC – Free Report) by 3.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 811,981 shares of the insurance provider’s stock after selling 29,890 shares during the quarter. Truist Financial accounts for 1.2% of Tweedy Browne Co LLC’s portfolio, making the stock its 14th biggest holding. Tweedy Browne Co LLC owned approximately 0.06% of Truist Financial worth $23,231,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Fairfield Bush & CO. purchased a new stake in shares of Truist Financial in the 1st quarter worth $25,000. OFI Invest Asset Management acquired a new stake in Truist Financial during the 3rd quarter worth about $26,000. JFS Wealth Advisors LLC grew its position in Truist Financial by 617.0% during the 2nd quarter. JFS Wealth Advisors LLC now owns 968 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 833 shares during the period. Quarry LP acquired a new stake in shares of Truist Financial during the 1st quarter valued at about $32,000. Finally, Union Savings Bank acquired a new stake in shares of Truist Financial during the 2nd quarter valued at about $36,000. Institutional investors own 71.11% of the company’s stock.
Wall Street Analyst Weigh In
TFC has been the topic of a number of analyst reports. StockNews.com cut Truist Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, February 7th. Evercore ISI raised their target price on Truist Financial from $31.00 to $33.00 and gave the company an “in-line” rating in a research report on Monday, November 20th. Piper Sandler raised their target price on Truist Financial from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, January 19th. Odeon Capital Group raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $40.45 price target on the stock in a research note on Thursday, December 14th. Finally, Royal Bank of Canada raised their price target on shares of Truist Financial from $40.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Truist Financial has an average rating of “Hold” and a consensus price target of $39.87.
Get Our Latest Stock Report on Truist Financial
Truist Financial Price Performance
TFC traded up $0.03 during trading on Wednesday, reaching $34.97. The company’s stock had a trading volume of 5,558,864 shares, compared to its average volume of 10,110,901. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.74. The firm has a fifty day simple moving average of $36.53 and a two-hundred day simple moving average of $32.19. Truist Financial Co. has a 1 year low of $25.56 and a 1 year high of $48.96. The company has a market cap of $46.64 billion, a price-to-earnings ratio of -32.50, a PEG ratio of 1.52 and a beta of 1.09.
Truist Financial (NYSE:TFC – Get Free Report) last released its quarterly earnings results on Thursday, January 18th. The insurance provider reported $0.81 EPS for the quarter, beating the consensus estimate of $0.68 by $0.13. The firm had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.70 billion. Truist Financial had a negative net margin of 3.28% and a positive return on equity of 9.64%. During the same quarter in the previous year, the company earned $1.30 EPS. As a group, analysts anticipate that Truist Financial Co. will post 3.39 EPS for the current year.
Truist Financial Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Friday, February 9th will be issued a $0.52 dividend. The ex-dividend date is Thursday, February 8th. This represents a $2.08 annualized dividend and a yield of 5.95%. Truist Financial’s dividend payout ratio (DPR) is presently -192.59%.
Truist Financial Company 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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