Larson Financial Group LLC Boosts Stake in Truist Financial Co. (NYSE:TFC)

Larson Financial Group LLC lifted its position in shares of Truist Financial Co. (NYSE:TFC) by 24.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,841 shares of the insurance provider’s stock after acquiring an additional 358 shares during the quarter. Larson Financial Group LLC’s holdings in Truist Financial were worth $80,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Bangor Savings Bank boosted its stake in shares of Truist Financial by 92.5% during the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock worth $25,000 after acquiring an additional 272 shares in the last quarter. Valley Wealth Managers Inc. purchased a new stake in shares of Truist Financial during the 3rd quarter worth about $26,000. MidAtlantic Capital Management Inc. purchased a new position in Truist Financial in the 3rd quarter valued at about $32,000. Ashton Thomas Securities LLC purchased a new position in Truist Financial in the 3rd quarter valued at about $45,000. Finally, City State Bank lifted its stake in Truist Financial by 158.1% in the 4th quarter. City State Bank now owns 1,169 shares of the insurance provider’s stock valued at $51,000 after buying an additional 716 shares in the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

Truist Financial Stock Down 0.3 %

Shares of NYSE TFC opened at $39.80 on Thursday. The company has a 50 day simple moving average of $45.53 and a 200-day simple moving average of $44.62. The company has a market capitalization of $51.95 billion, a P/E ratio of 11.95, a P/E/G 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 1 year low of $34.51 and a 1 year high of $49.06.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data 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 analysts’ expectations of $5.05 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the company posted $0.81 EPS. On average, equities 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. Investors of record on Friday, February 14th were given a dividend of $0.52 per share. The ex-dividend date was Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.23%. Truist Financial’s payout ratio is currently 62.46%.

Analyst Ratings Changes

A number of research analysts recently weighed in on TFC shares. Citigroup raised 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 shares of Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. Wells Fargo & Company raised their price target on shares of Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Finally, The Goldman Sachs Group increased their price objective on shares of Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Nine equities research 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. According to data from MarketBeat.com, the stock currently has a consensus 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.