Banco Santander S.A. Acquires 4,659 Shares of Truist Financial Co. (NYSE:TFC)

Banco Santander S.A. grew its holdings in shares of Truist Financial Co. (NYSE:TFC) by 83.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 10,233 shares of the insurance provider’s stock after acquiring an additional 4,659 shares during the quarter. Banco Santander S.A.’s holdings in Truist Financial were worth $444,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds 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 $26,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Truist Financial during the 3rd quarter worth $32,000. Ashton Thomas Securities LLC bought a new position in shares of Truist Financial in the third quarter worth $45,000. Finally, True Wealth Design LLC acquired a new position in Truist Financial in the third quarter valued at about $51,000. 71.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TFC. Keefe, Bruyette & Woods increased their price objective on shares of Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 21st. Wells Fargo & Company lifted their price objective on shares of Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Morgan Stanley boosted their price objective on shares of Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. Hsbc Global Res raised Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Finally, Compass Point boosted their price target on Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Nine investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Truist Financial has a consensus rating of “Moderate Buy” and a consensus price target of $51.16.

Truist Financial Price Performance

Shares of NYSE:TFC opened at $40.41 on Tuesday. 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 Co. has a 52 week low of $34.51 and a 52 week high of $49.06. The firm has a market cap of $52.75 billion, a PE ratio of 12.13, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. The firm’s fifty day moving average is $45.67 and its 200-day moving average is $44.68.

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

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 5.15%. The ex-dividend date of this dividend was Friday, February 14th. Truist Financial’s dividend payout ratio is presently 62.46%.

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.