Algebris UK Ltd Takes Position in Truist Financial Co. (NYSE:TFC)

Algebris UK Ltd acquired a new stake in shares of Truist Financial Co. (NYSE:TFC) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 319,581 shares of the insurance provider’s stock, valued at approximately $13,389,000. Truist Financial accounts for 3.4% of Algebris UK Ltd’s portfolio, making the stock its 12th biggest position.

Other hedge funds have also made changes to their positions in the company. Bangor Savings Bank increased its stake in shares of Truist Financial by 92.5% during the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock valued at $25,000 after acquiring an additional 272 shares during the period. Hopwood Financial Services Inc. acquired a new position in shares of Truist Financial during the fourth quarter valued at approximately $26,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Truist Financial during the third quarter valued at approximately $32,000. Curio Wealth LLC acquired a new position in shares of Truist Financial during the fourth quarter valued at approximately $45,000. Finally, True Wealth Design LLC acquired a new position in shares of Truist Financial during the third quarter valued at approximately $51,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analysts Set New Price Targets

TFC has been the topic of several recent research reports. StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. Raymond James lifted their price target on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. HSBC upgraded shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods lifted their price target on shares of Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 21st. Finally, Compass Point lifted their price target 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. Nine research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $51.16.

Truist Financial Stock Down 0.5 %

TFC stock opened at $40.84 on Wednesday. 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 Co. has a 1 year low of $35.06 and a 1 year high of $49.06. The company has a fifty day simple moving average of $45.26 and a 200 day simple moving average of $44.52. The firm has a market cap of $53.32 billion, a PE ratio of 12.27, a PEG ratio of 1.63 and a beta of 1.08.

Truist Financial (NYSE:TFC) last released its 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. The firm had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The business’s revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.81 EPS. Sell-side analysts anticipate that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 5.09%. The ex-dividend date of this dividend was Friday, February 14th. Truist Financial’s dividend payout ratio is 62.46%.

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.