SRS Capital Advisors Inc. Boosts Holdings in Truist Financial Co. (NYSE:TFC)

SRS Capital Advisors Inc. grew its position in shares of Truist Financial Co. (NYSE:TFC) by 106.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,363 shares of the insurance provider’s stock after purchasing an additional 3,801 shares during the period. SRS Capital Advisors Inc.’s holdings in Truist Financial were worth $319,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Bangor Savings Bank grew its position in 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 buying an additional 272 shares in the last quarter. Valley Wealth Managers Inc. bought a new stake in shares of Truist Financial during the 3rd quarter valued at about $26,000. MidAtlantic Capital Management Inc. purchased a new position in shares of Truist Financial during the third quarter worth about $32,000. Ashton Thomas Securities LLC bought a new position in shares of Truist Financial in the third quarter worth approximately $45,000. Finally, True Wealth Design LLC purchased a new stake in Truist Financial in the third quarter valued at approximately $51,000. Institutional investors own 71.28% of the company’s stock.

Truist Financial Price Performance

TFC stock opened at $43.75 on Wednesday. The stock has a market capitalization of $57.10 billion, a price-to-earnings ratio of 13.14, a PEG ratio of 1.63 and a beta of 1.08. The firm’s 50-day moving average price is $45.81 and its two-hundred day moving average price is $44.69. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. Truist Financial Co. has a 12-month low of $34.51 and a 12-month high of $49.06.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The company had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.05 billion. During the same quarter in the previous year, the business earned $0.81 EPS. Truist Financial’s revenue was up 3.4% compared to the same quarter last year. As a group, equities analysts predict that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.75%. The ex-dividend date of this dividend was Friday, February 14th. Truist Financial’s payout ratio is 62.46%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on TFC shares. 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. Citigroup upped their target price on shares of Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. Barclays upped their price objective on Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Finally, HSBC raised Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a report on Tuesday, January 7th. Eleven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $50.79.

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.