Truist Financial Co. (NYSE:TFC) Stock Position Lifted by Xponance Inc.

Xponance Inc. raised its holdings in Truist Financial Co. (NYSE:TFC) by 6.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 357,578 shares of the insurance provider’s stock after acquiring an additional 22,136 shares during the quarter. Xponance Inc.’s holdings in Truist Financial were worth $15,512,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in TFC. Harbour Investments Inc. lifted its stake in Truist Financial by 14.2% in the third quarter. Harbour Investments Inc. now owns 4,313 shares of the insurance provider’s stock valued at $184,000 after acquiring an additional 537 shares during the last quarter. Natixis Advisors LLC lifted its stake in Truist Financial by 7.3% in the third quarter. Natixis Advisors LLC now owns 451,576 shares of the insurance provider’s stock valued at $19,314,000 after acquiring an additional 30,626 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in Truist Financial by 17.6% in the third quarter. Thrivent Financial for Lutherans now owns 82,255 shares of the insurance provider’s stock valued at $3,518,000 after acquiring an additional 12,300 shares during the last quarter. Quest Partners LLC lifted its stake in Truist Financial by 81.1% in the third quarter. Quest Partners LLC now owns 4,754 shares of the insurance provider’s stock valued at $203,000 after acquiring an additional 2,129 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC lifted its stake in Truist Financial by 24.0% in the third quarter. Cassaday & Co Wealth Management LLC now owns 13,530 shares of the insurance provider’s stock valued at $579,000 after acquiring an additional 2,617 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Trading Down 0.5 %

Shares of Truist Financial stock opened at $40.84 on Wednesday. The firm has a market capitalization of $53.32 billion, a PE ratio of 12.27, a price-to-earnings-growth 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. The company’s fifty day moving average price is $45.26 and its two-hundred day moving average price is $44.52. Truist Financial Co. has a 52-week low of $35.06 and a 52-week high of $49.06.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results 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 analyst estimates of $5.05 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.81 EPS. On average, analysts expect that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 5.09%. The ex-dividend date of this dividend was Friday, February 14th. Truist Financial’s payout ratio is 62.46%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Stephens lifted their target price on shares of Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. HSBC upgraded shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Tuesday, January 7th. Compass Point boosted their price objective on shares of Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Finally, Keefe, Bruyette & Woods boosted 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. Nine equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target 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.