Truist Financial Co. (NYSE:TFC) Shares Bought by Marietta Investment Partners LLC

Marietta Investment Partners LLC grew its stake in shares of Truist Financial Co. (NYSE:TFC) by 75.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,078 shares of the insurance provider’s stock after acquiring an additional 16,333 shares during the period. Marietta Investment Partners LLC’s holdings in Truist Financial were worth $1,652,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Bangor Savings Bank lifted its position in shares of Truist Financial by 92.5% in the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock worth $25,000 after buying an additional 272 shares during the last quarter. Hopwood Financial Services Inc. bought a new position in shares of Truist Financial in the 4th quarter worth about $26,000. Curio Wealth LLC bought a new position in shares of Truist Financial in the 4th quarter worth about $45,000. True Wealth Design LLC bought a new position in shares of Truist Financial in the 3rd quarter worth about $51,000. Finally, City State Bank lifted its position in shares of Truist Financial by 158.1% in the 4th quarter. City State Bank now owns 1,169 shares of the insurance provider’s stock worth $51,000 after buying an additional 716 shares during the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Stock Up 0.2 %

NYSE TFC opened at $41.41 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. The company’s 50 day simple moving average is $45.12 and its 200 day simple moving average is $44.45. Truist Financial Co. has a 12 month low of $35.09 and a 12 month high of $49.06. The company has a market capitalization of $54.05 billion, a P/E ratio of 12.43, 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 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 business had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.05 billion. During the same period in the previous year, the firm earned $0.81 EPS. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. Equities research analysts expect that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued 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 5.02%. Truist Financial’s dividend payout ratio is currently 62.46%.

Analysts Set New Price Targets

TFC has been the topic of a number of recent research reports. The Goldman Sachs Group raised their price target 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. Keefe, Bruyette & Woods lifted their price objective on shares of Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a research report on Tuesday, January 21st. Hsbc Global Res upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Baird R W upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Finally, Robert W. Baird upgraded shares of Truist Financial from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $48.00 to $52.00 in a research report on Wednesday, March 5th. Nine research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Truist Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.16.

Truist Financial Company 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.