Headlands Technologies LLC Increases Stake in Truist Financial Co. (NYSE:TFC)

Headlands Technologies LLC raised its holdings in shares of Truist Financial Co. (NYSE:TFC) by 163.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 14,099 shares of the insurance provider’s stock after acquiring an additional 8,748 shares during the quarter. Headlands Technologies LLC’s holdings in Truist Financial were worth $612,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TFC. Bangor Savings Bank boosted its holdings in 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 period. Hopwood Financial Services Inc. purchased a new stake in shares of Truist Financial during the fourth quarter worth $26,000. Curio Wealth LLC bought a new position in shares of Truist Financial in the fourth quarter worth $45,000. City State Bank grew its position 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 in the last quarter. Finally, Brown Lisle Cummings Inc. bought a new stake in shares of Truist Financial during the 4th quarter valued at $55,000. Institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Up 1.4 %

TFC stock opened at $41.60 on Thursday. Truist Financial Co. has a fifty-two week low of $35.09 and a fifty-two week high of $49.06. The company has a market capitalization of $54.30 billion, a price-to-earnings ratio of 12.49, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. The business’s 50 day moving average price is $44.41 and its two-hundred day moving average price is $44.41. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data 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 business had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.81 earnings per share. As a group, analysts forecast that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a $0.52 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a yield of 5.00%. Truist Financial’s payout ratio is currently 62.46%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. Morgan Stanley upped their price target on shares of Truist Financial from $55.00 to $56.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. Citigroup dropped their price objective on Truist Financial from $51.00 to $44.00 and set a “neutral” rating for the company in a research note on Monday, March 24th. Baird R W raised Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Finally, Robert W. Baird raised Truist Financial from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $48.00 to $52.00 in a report on Wednesday, March 5th. Ten analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $50.68.

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.