Physician Wealth Advisors Inc. Purchases Shares of 1,358 Truist Financial Co. (NYSE:TFC)

Physician Wealth Advisors Inc. bought a new position in Truist Financial Co. (NYSE:TFC) during the fourth quarter, Holdings Channel.com reports. The fund bought 1,358 shares of the insurance provider’s stock, valued at approximately $59,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Bangor Savings Bank increased its stake in shares of Truist Financial by 92.5% in the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock worth $25,000 after acquiring an additional 272 shares during the last quarter. Hopwood Financial Services Inc. acquired a new stake in shares of Truist Financial in the 4th quarter valued at $26,000. Curio Wealth LLC acquired a new position in Truist Financial during the fourth quarter worth $45,000. City State Bank boosted its stake in shares of Truist Financial by 158.1% during the 4th quarter. City State Bank now owns 1,169 shares of the insurance provider’s stock worth $51,000 after acquiring an additional 716 shares in the last quarter. Finally, True Wealth Design LLC acquired a new position in shares of Truist Financial during the 3rd quarter valued at about $51,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Up 1.7 %

TFC stock opened at $41.16 on Tuesday. The stock has a market capitalization of $53.74 billion, a P/E ratio of 12.36, a P/E/G ratio of 1.63 and a beta of 1.08. The business has a 50-day moving average of $44.65 and a 200-day moving average of $44.43. 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 fifty-two week low of $35.09 and a fifty-two week 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 (EPS) 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 company had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.05 billion. During the same period last year, the company earned $0.81 earnings per share. The firm’s revenue was up 3.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.05%. Truist Financial’s dividend payout ratio is 62.46%.

Analyst Ratings Changes

Several analysts recently issued reports on TFC shares. Compass Point upped their price objective on shares of 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 upped their price target on Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” rating in a report on Tuesday, January 21st. Piper Sandler increased 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. Robert W. Baird raised shares of Truist Financial from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $48.00 to $52.00 in a research report on Wednesday, March 5th. Finally, Hsbc Global Res upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Nine analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $50.68.

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.