14,535 Shares in Truist Financial Co. (NYSE:TFC) Purchased by First Financial Group Corp

First Financial Group Corp acquired a new stake in shares of Truist Financial Co. (NYSE:TFC) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 14,535 shares of the insurance provider’s stock, valued at approximately $631,000. Truist Financial comprises about 0.7% of First Financial Group Corp’s investment portfolio, making the stock its 28th biggest position.

Several other institutional investors also recently bought and sold shares of TFC. Harbour Investments Inc. grew its position in Truist Financial by 14.2% during the 3rd quarter. Harbour Investments Inc. now owns 4,313 shares of the insurance provider’s stock valued at $184,000 after purchasing an additional 537 shares during the last quarter. Prime Capital Investment Advisors LLC grew its position in Truist Financial by 2.7% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 10,399 shares of the insurance provider’s stock valued at $445,000 after purchasing an additional 270 shares during the last quarter. Aptus Capital Advisors LLC grew its position in Truist Financial by 19.7% during the 3rd quarter. Aptus Capital Advisors LLC now owns 24,582 shares of the insurance provider’s stock valued at $1,051,000 after purchasing an additional 4,049 shares during the last quarter. Haverford Trust Co grew its position in Truist Financial by 8.6% during the 3rd quarter. Haverford Trust Co now owns 12,629 shares of the insurance provider’s stock valued at $540,000 after purchasing an additional 998 shares during the last quarter. Finally, MQS Management LLC purchased a new stake in shares of Truist Financial during the 3rd quarter valued at about $203,000. 71.28% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TFC. 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 report on Tuesday, January 7th. Baird R W raised shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Piper Sandler raised their price target on shares of Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. The Goldman Sachs Group raised their price target on shares of Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Finally, StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, January 17th. Nine 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’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $51.16.

Truist Financial Trading Up 2.7 %

Truist Financial stock opened at $40.54 on Friday. The stock has a market cap of $52.92 billion, a P/E ratio of 12.17, a PEG ratio of 1.63 and a beta of 1.08. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. Truist Financial Co. has a 1 year low of $34.51 and a 1 year high of $49.06. The firm’s 50 day moving average price is $45.38 and its 200-day moving average price is $44.55.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.03. The firm had revenue of $5.11 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the business posted $0.81 earnings per share. On average, equities analysts predict that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 5.13%. The ex-dividend date was Friday, February 14th. Truist Financial’s payout ratio is currently 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.