First National Trust Co Boosts Stock Position in Truist Financial Co. (NYSE:TFC)

First National Trust Co increased its stake in shares of Truist Financial Co. (NYSE:TFC) by 3.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 212,428 shares of the insurance provider’s stock after buying an additional 7,069 shares during the quarter. First National Trust Co’s holdings in Truist Financial were worth $9,215,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Assetmark Inc. lifted its position in Truist Financial by 15.9% in the third quarter. Assetmark Inc. now owns 46,598 shares of the insurance provider’s stock valued at $1,993,000 after purchasing an additional 6,407 shares during the period. Sigma Planning Corp increased its holdings in Truist Financial by 5.7% in the third quarter. Sigma Planning Corp now owns 20,467 shares of the insurance provider’s stock valued at $875,000 after buying an additional 1,106 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of Truist Financial during the 3rd quarter valued at approximately $45,000. Apollon Wealth Management LLC boosted its stake in shares of Truist Financial by 14.3% during the 3rd quarter. Apollon Wealth Management LLC now owns 49,157 shares of the insurance provider’s stock worth $2,102,000 after acquiring an additional 6,136 shares in the last quarter. Finally, Harbour Investments Inc. grew its holdings in shares of Truist Financial by 14.2% in the 3rd quarter. Harbour Investments Inc. now owns 4,313 shares of the insurance provider’s stock worth $184,000 after acquiring an additional 537 shares during the period. 71.28% of the stock is owned by hedge funds and other institutional investors.

Truist Financial Trading Down 1.0 %

Shares of NYSE TFC opened at $39.43 on Friday. Truist Financial Co. has a 12-month low of $34.51 and a 12-month high of $49.06. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The stock’s 50 day simple moving average is $45.45 and its 200 day simple moving average is $44.58. The company has a market cap of $51.48 billion, a price-to-earnings ratio of 11.84, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08.

Truist Financial (NYSE:TFC) last released its quarterly 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 business 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 quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.81 earnings per share. Equities research analysts expect that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Announces Dividend

The firm 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. This represents a $2.08 dividend on an annualized basis and a yield of 5.27%. The ex-dividend date of this dividend was Friday, February 14th. Truist Financial’s dividend payout ratio (DPR) is 62.46%.

Analyst Ratings Changes

TFC has been the topic of a number of research reports. Wells Fargo & Company increased 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. Baird R W upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. 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. Keefe, Bruyette & Woods increased their price objective on Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a research note on Tuesday, January 21st. Finally, Stephens upped their target price on shares of Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Nine equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $51.16.

Truist Financial Company 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.