Ethic Inc. Has $7.05 Million Holdings in Truist Financial Co. (NYSE:TFC)

Ethic Inc. decreased its stake in Truist Financial Co. (NYSE:TFC) by 3.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 162,603 shares of the insurance provider’s stock after selling 5,607 shares during the quarter. Ethic Inc.’s holdings in Truist Financial were worth $7,054,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of TFC. Hopwood Financial Services Inc. bought a new stake in shares of Truist Financial in the 4th quarter worth about $26,000. Navigoe LLC bought a new stake in Truist Financial during the fourth quarter worth about $26,000. Curio Wealth LLC acquired a new stake in shares of Truist Financial during the fourth quarter worth approximately $45,000. City State Bank boosted its holdings in shares of Truist Financial by 158.1% in 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, Brown Lisle Cummings Inc. bought a new stake in Truist Financial during the 4th quarter worth approximately $55,000. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Stock Performance

Shares of TFC stock opened at $38.88 on Friday. The stock has a 50-day moving average of $38.86 and a 200-day moving average of $43.30. Truist Financial Co. has a one year low of $33.56 and a one year high of $49.06. The stock has a market cap of $50.91 billion, a PE ratio of 11.68, a price-to-earnings-growth ratio of 1.63 and a beta of 0.83. 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 (NYSE:TFC) last posted its earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, hitting the consensus estimate of $0.87. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The company had revenue of $4.95 billion for the quarter, compared to analyst estimates of $4.99 billion. During the same period last year, the business posted $0.90 earnings per share. As a group, sell-side analysts expect that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Friday, May 9th will be issued a $0.52 dividend. The ex-dividend date is Friday, May 9th. This represents a $2.08 annualized dividend and a dividend yield of 5.35%. Truist Financial’s dividend payout ratio (DPR) is currently 61.36%.

Analysts Set New Price Targets

TFC has been the topic of a number of recent analyst reports. Citigroup reduced their price objective on Truist Financial from $51.00 to $44.00 and set a “neutral” rating on the stock in a research note on Monday, March 24th. Robert W. Baird upgraded shares of Truist Financial from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $48.00 to $52.00 in a research report on Wednesday, March 5th. Piper Sandler lowered their price objective on shares of Truist Financial from $45.00 to $41.00 and set a “neutral” rating for the company in a research report on Monday, April 21st. Wells Fargo & Company reduced their target price on shares of Truist Financial from $52.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, March 28th. Finally, StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a report on Wednesday. Eight research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Truist Financial currently has a consensus rating of “Moderate Buy” and an average target price of $48.06.

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.