United Bank Buys 2,842 Shares of Truist Financial Co. (NYSE:TFC)

United Bank increased its position in Truist Financial Co. (NYSE:TFC) by 3.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,782 shares of the insurance provider’s stock after purchasing an additional 2,842 shares during the period. Truist Financial makes up approximately 1.4% of United Bank’s holdings, making the stock its 22nd biggest position. United Bank’s holdings in Truist Financial were worth $3,287,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of TFC. State Street Corp boosted its holdings in Truist Financial by 4.6% in the third quarter. State Street Corp now owns 61,864,957 shares of the insurance provider’s stock worth $2,645,964,000 after purchasing an additional 2,720,223 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Truist Financial by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 27,440,951 shares of the insurance provider’s stock worth $1,169,350,000 after purchasing an additional 456,412 shares during the period. Amundi boosted its holdings in shares of Truist Financial by 6.5% in the fourth quarter. Amundi now owns 23,683,345 shares of the insurance provider’s stock worth $1,040,718,000 after buying an additional 1,450,323 shares during the last quarter. American Century Companies Inc. raised its position in Truist Financial by 7.9% in the fourth quarter. American Century Companies Inc. now owns 9,882,885 shares of the insurance provider’s stock worth $428,720,000 after acquiring an additional 722,749 shares during the period. Finally, Norges Bank purchased a new position in shares of Truist Financial during the 4th quarter worth $402,828,000. 71.28% of the stock is owned by hedge funds and other institutional investors.

Truist Financial Price Performance

NYSE:TFC opened at $40.46 on Friday. The firm has a market capitalization of $52.81 billion, a price-to-earnings ratio of 12.15, 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. The business has a 50 day simple moving average of $44.78 and a 200-day simple moving average of $44.42. Truist Financial Co. has a 1 year low of $35.09 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 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $5.05 billion. During the same period in the previous year, the firm earned $0.81 earnings per share. Truist Financial’s quarterly revenue was up 3.4% compared to the same quarter last year. Equities analysts forecast that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Announces Dividend

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

Analysts Set New Price Targets

TFC has been the subject of a number of recent research reports. Wells Fargo & Company cut 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. Hsbc Global Res upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. Barclays increased their target price on Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Finally, Baird R W upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Nine investment 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $50.68.

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.