Congress Wealth Management LLC DE Has $1.82 Million Position in Truist Financial Co. (NYSE:TFC)

Congress Wealth Management LLC DE reduced its stake in Truist Financial Co. (NYSE:TFC) by 2.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 42,031 shares of the insurance provider’s stock after selling 845 shares during the period. Congress Wealth Management LLC DE’s holdings in Truist Financial were worth $1,823,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Bangor Savings Bank lifted its position in shares of Truist Financial by 92.5% during the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 272 shares in the last quarter. Hopwood Financial Services Inc. bought a new position in Truist Financial in the 4th quarter valued at $26,000. Curio Wealth LLC acquired a new stake in shares of Truist Financial in the 4th quarter valued at $45,000. True Wealth Design LLC bought a new stake in shares of Truist Financial during the third quarter worth $51,000. Finally, City State Bank boosted its holdings in 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 acquiring an additional 716 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Truist Financial Trading Down 0.1 %

NYSE:TFC opened at $41.97 on Thursday. 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’s 50-day simple moving average is $45.00 and its 200-day simple moving average is $44.43. Truist Financial Co. has a fifty-two week low of $35.09 and a fifty-two week high of $49.06. The stock has a market capitalization of $54.79 billion, a PE ratio of 12.60, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, beating 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 firm had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.05 billion. During the same quarter in the previous year, the firm posted $0.81 earnings per share. The business’s revenue was up 3.4% on a year-over-year basis. Sell-side 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. Shareholders of record on Friday, February 14th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.96%. The ex-dividend date of this dividend was Friday, February 14th. Truist Financial’s dividend payout ratio is 62.46%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on TFC. Citigroup dropped their price objective on Truist Financial from $51.00 to $44.00 and set a “neutral” rating for the company in a report on Monday. Stephens boosted their price target on shares of Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Piper Sandler raised their price objective 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. HSBC upgraded shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research report on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods raised their price target on Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 21st. Nine analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $50.79.

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.