Truist Financial Co. (NYSE:TFC) Shares Bought by L & S Advisors Inc

L & S Advisors Inc raised its position in Truist Financial Co. (NYSE:TFC) by 36.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 104,399 shares of the insurance provider’s stock after acquiring an additional 27,700 shares during the period. L & S Advisors Inc’s holdings in Truist Financial were worth $4,529,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bangor Savings Bank grew its holdings in Truist Financial by 92.5% during the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock worth $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 4th quarter worth $26,000. Curio Wealth LLC acquired a new position in shares of Truist Financial during the 4th quarter worth $45,000. True Wealth Design LLC purchased a new position in shares of Truist Financial in the 3rd quarter valued at about $51,000. Finally, City State Bank lifted its stake in shares of Truist Financial by 158.1% in 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 period. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on TFC shares. HSBC upgraded shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research report on Tuesday, January 7th. Wells Fargo & Company dropped their price objective on Truist Financial from $52.00 to $50.00 and set an “overweight” rating for the company in a research note on Friday. Compass Point lifted their price objective on Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Keefe, Bruyette & Woods upped their target price on Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Tuesday, January 21st. Finally, Piper Sandler lifted their price target on Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Nine analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $50.68.

Truist Financial Price Performance

Shares of NYSE:TFC opened at $40.46 on Friday. The company has a market cap of $52.81 billion, a P/E ratio of 12.15, a P/E/G ratio of 1.63 and a beta of 1.08. The business has a fifty day simple moving average of $44.78 and a 200-day simple moving average of $44.42. Truist Financial Co. has a 52 week low of $35.09 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.

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 the consensus estimate of $0.88 by $0.03. The company had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The firm’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. Equities research analysts forecast that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 5.14%. The ex-dividend date of this dividend was Friday, February 14th. Truist Financial’s dividend payout ratio is currently 62.46%.

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.