Callan Family Office LLC Acquires New Stake in Truist Financial Co. (NYSE:TFC)

Callan Family Office LLC acquired a new stake in Truist Financial Co. (NYSE:TFC) in the fourth quarter, Holdings Channel reports. The firm acquired 15,488 shares of the insurance provider’s stock, valued at approximately $672,000.

A number of other institutional investors have also bought and sold shares of TFC. Bangor Savings Bank boosted 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 valued at $25,000 after acquiring an additional 272 shares during the last quarter. Valley Wealth Managers Inc. bought a new stake in Truist Financial during the third quarter valued at $26,000. MidAtlantic Capital Management Inc. bought a new stake in Truist Financial during the third quarter valued at $32,000. Ashton Thomas Securities LLC bought a new stake in Truist Financial during the third quarter valued at $45,000. Finally, True Wealth Design LLC bought a new stake in Truist Financial during the third quarter valued at $51,000. Institutional investors own 71.28% of the company’s stock.

Truist Financial Trading Up 0.0 %

NYSE:TFC opened at $42.25 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. The firm has a market cap of $55.15 billion, a price-to-earnings ratio of 12.69, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. Truist Financial Co. has a 52 week low of $34.51 and a 52 week high of $49.06. The firm has a 50-day moving average price of $45.73 and a two-hundred day moving average price of $44.67.

Truist Financial (NYSE:TFC) last posted 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 firm had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter last year, the business posted $0.81 EPS. On average, equities analysts expect 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. Shareholders of record on Friday, February 14th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.08 annualized dividend and a yield of 4.92%. Truist Financial’s dividend payout ratio (DPR) is 62.46%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Wells Fargo & Company upped their price target on shares of Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. HSBC raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Tuesday, January 7th. Raymond James increased their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Stephens increased their price objective on shares of Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Finally, Baird R W raised shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. Nine investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $51.16.

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.