Lowe Brockenbrough & Co. Inc. Lowers Stock Position in Truist Financial Co. (NYSE:TFC)

Lowe Brockenbrough & Co. Inc. lessened its holdings in shares of Truist Financial Co. (NYSE:TFC) by 9.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 26,081 shares of the insurance provider’s stock after selling 2,775 shares during the quarter. Lowe Brockenbrough & Co. Inc.’s holdings in Truist Financial were worth $1,131,000 as of its most recent filing with the SEC.

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

Truist Financial Stock Performance

Shares of TFC opened at $41.41 on Friday. 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 firm has a market cap of $54.05 billion, a PE ratio of 12.43, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. The company’s 50 day simple moving average is $45.12 and its 200-day simple moving average is $44.45. Truist Financial Co. has a 12-month low of $35.09 and a 12-month high of $49.06.

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

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a $0.52 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a yield of 5.02%. Truist Financial’s dividend payout ratio (DPR) is 62.46%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Citigroup raised their target price on shares of Truist Financial from $47.00 to $51.00 and gave the company a “neutral” rating in a report on Monday, November 25th. Hsbc Global Res raised shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Robert W. Baird raised shares of Truist Financial from a “neutral” rating to an “outperform” rating and raised their target price for the company from $48.00 to $52.00 in a report on Wednesday, March 5th. Stephens raised 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. Finally, Raymond James raised their target price on shares of Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Nine investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Truist Financial has an average rating of “Moderate Buy” and an average 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.