Frank Rimerman Advisors LLC Buys 1,094 Shares of Truist Financial Co. (NYSE:TFC)

Frank Rimerman Advisors LLC grew its stake in shares of Truist Financial Co. (NYSE:TFC) by 3.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 29,448 shares of the insurance provider’s stock after acquiring an additional 1,094 shares during the period. Frank Rimerman Advisors LLC’s holdings in Truist Financial were worth $1,277,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. raised its stake 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 buying an additional 971 shares during the period. Principal Financial Group Inc. increased its holdings in Truist Financial by 3.5% in the 3rd quarter. Principal Financial Group Inc. now owns 1,511,299 shares of the insurance provider’s stock worth $64,638,000 after acquiring an additional 50,637 shares during the last quarter. Cadence Bank raised its stake in Truist Financial by 101.6% in the 3rd 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 during the period. Country Club Bank boosted its position in Truist Financial by 719.8% during the fourth quarter. Country Club Bank now owns 45,499 shares of the insurance provider’s stock worth $1,973,000 after purchasing an additional 39,949 shares during the period. Finally, David Wealth Management LLC purchased a new position in shares of Truist Financial in the fourth quarter worth about $2,354,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Up 2.7 %

Shares of NYSE TFC opened at $40.54 on Friday. The stock has a market capitalization of $52.92 billion, a P/E ratio of 12.17, a PEG ratio of 1.63 and a beta of 1.08. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. Truist Financial Co. has a one year low of $34.51 and a one year high of $49.06. The firm’s 50 day simple moving average is $45.38 and its two-hundred day simple moving average is $44.56.

Truist Financial (NYSE:TFC) last issued its earnings results on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $5.05 billion. During the same quarter last year, the company earned $0.81 EPS. The firm’s revenue was up 3.4% compared to the same quarter last year. As a group, analysts expect that Truist Financial Co. will post 4 EPS for the current fiscal 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 $0.52 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a yield of 5.13%. Truist Financial’s dividend payout ratio (DPR) is currently 62.46%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on TFC shares. Citigroup upped their price target on shares of Truist Financial from $47.00 to $51.00 and gave the company a “neutral” rating in a research note on Monday, November 25th. Piper Sandler raised their price target on Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Compass Point raised their target price on Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Hsbc Global Res raised Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” rating in a report on Tuesday, January 21st. Nine analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus 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.