Signature Wealth Management Group Acquires 735 Shares of Truist Financial Co. (NYSE:TFC)

Signature Wealth Management Group increased its holdings in Truist Financial Co. (NYSE:TFC) by 0.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 88,156 shares of the insurance provider’s stock after acquiring an additional 735 shares during the period. Truist Financial comprises approximately 1.5% of Signature Wealth Management Group’s portfolio, making the stock its 27th biggest holding. Signature Wealth Management Group’s holdings in Truist Financial were worth $3,824,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of Truist Financial by 48.7% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,963 shares of the insurance provider’s stock valued at $129,000 after acquiring an additional 971 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Truist Financial by 3.5% in the third quarter. Principal Financial Group Inc. now owns 1,511,299 shares of the insurance provider’s stock valued at $64,638,000 after acquiring an additional 50,637 shares in the last quarter. Cadence Bank grew its holdings in shares of Truist Financial by 101.6% in the third quarter. Cadence Bank now owns 185,184 shares of the insurance provider’s stock valued at $7,920,000 after acquiring an additional 93,322 shares in the last quarter. Country Club Bank grew its holdings in shares of Truist Financial by 719.8% in the fourth quarter. Country Club Bank now owns 45,499 shares of the insurance provider’s stock valued at $1,973,000 after acquiring an additional 39,949 shares in the last quarter. Finally, David Wealth Management LLC bought a new position in shares of Truist Financial in the fourth quarter valued at approximately $2,354,000. 71.28% of the stock is owned by institutional investors.

Truist Financial Trading Up 2.7 %

NYSE:TFC opened at $40.54 on Friday. The company has a fifty day moving average of $45.38 and a 200 day moving average of $44.56. Truist Financial Co. has a 52 week low of $34.51 and a 52 week high of $49.06. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $52.92 billion, a P/E ratio of 12.17, a P/E/G ratio of 1.63 and a beta of 1.08.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, beating 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 company had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.05 billion. During the same period in the prior year, the business posted $0.81 EPS. The firm’s revenue was up 3.4% compared to the same quarter last year. On average, research analysts predict 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. Shareholders of record on Friday, February 14th were issued a $0.52 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.08 annualized dividend and a yield of 5.13%. Truist Financial’s dividend payout ratio (DPR) is presently 62.46%.

Analysts Set New Price Targets

Several brokerages have weighed in on TFC. Barclays increased their price objective on Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Citigroup boosted their price objective on Truist Financial from $47.00 to $51.00 and gave the company a “neutral” rating in a research note on Monday, November 25th. The Goldman Sachs Group increased their target price on shares of Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Robert W. Baird upgraded shares of Truist Financial from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $48.00 to $52.00 in a research note on Wednesday, March 5th. Finally, StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. Nine research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Truist Financial currently has an average rating of “Moderate Buy” and an average target price of $51.16.

Truist Financial 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.