Vestmark Advisory Solutions Inc. Purchases 7,918 Shares of Truist Financial Co. (NYSE:TFC)

Vestmark Advisory Solutions Inc. increased its holdings in Truist Financial Co. (NYSE:TFC) by 152.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 13,117 shares of the insurance provider’s stock after buying an additional 7,918 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Truist Financial were worth $569,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Truist Financial by 48.7% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,963 shares of the insurance provider’s stock valued at $129,000 after buying an additional 971 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Truist Financial by 3.5% in the third quarter. Principal Financial Group Inc. now owns 1,511,299 shares of the insurance provider’s stock valued at $64,638,000 after buying an additional 50,637 shares in the last quarter. Cadence Bank raised its position in shares of Truist Financial by 101.6% in the third quarter. Cadence Bank now owns 185,184 shares of the insurance provider’s stock valued at $7,920,000 after buying an additional 93,322 shares in the last quarter. Country Club Bank raised its position in shares of Truist Financial by 719.8% in the fourth quarter. Country Club Bank now owns 45,499 shares of the insurance provider’s stock valued at $1,973,000 after buying an additional 39,949 shares in the last quarter. Finally, David Wealth Management LLC acquired a new stake in shares of Truist Financial in the fourth quarter valued at approximately $2,354,000. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Stock Performance

Shares of Truist Financial stock opened at $42.25 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. Truist Financial Co. has a twelve month low of $34.51 and a twelve month high of $49.06. The stock has a market cap of $55.15 billion, a price-to-earnings ratio of 12.69, a P/E/G ratio of 1.63 and a beta of 1.08. The company’s fifty day moving average is $45.73 and its 200 day moving average is $44.67.

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

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were paid a $0.52 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.08 annualized dividend and a dividend yield of 4.92%. Truist Financial’s dividend payout ratio is 62.46%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Piper Sandler lifted their price target on shares of Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Hsbc Global Res upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Robert W. Baird upgraded shares of Truist Financial from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $48.00 to $52.00 in a research report on Wednesday. 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. Finally, Barclays boosted their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $51.16.

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.