Fiduciary Trust Co Increases Stake in Truist Financial Co. (NYSE:TFC)

Fiduciary Trust Co lifted its stake in Truist Financial Co. (NYSE:TFC) by 49.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,475 shares of the insurance provider’s stock after purchasing an additional 4,487 shares during the quarter. Fiduciary Trust Co’s holdings in Truist Financial were worth $585,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Comerica Bank raised its position in Truist Financial by 3.6% during the 4th quarter. Comerica Bank now owns 449,484 shares of the insurance provider’s stock worth $19,499,000 after buying an additional 15,499 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its position in Truist Financial by 48.7% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,963 shares of the insurance provider’s stock worth $129,000 after buying an additional 971 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in Truist Financial by 81.7% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,108,466 shares of the insurance provider’s stock worth $48,085,000 after buying an additional 498,531 shares during the last quarter. Principal Financial Group Inc. raised its position in Truist Financial by 3.5% during the 3rd quarter. Principal Financial Group Inc. now owns 1,511,299 shares of the insurance provider’s stock worth $64,638,000 after buying an additional 50,637 shares during the last quarter. Finally, Country Club Bank raised its position in Truist Financial by 719.8% during the 4th quarter. Country Club Bank now owns 45,499 shares of the insurance provider’s stock worth $1,973,000 after buying an additional 39,949 shares during the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

Truist Financial Stock Performance

TFC opened at $38.88 on Monday. The firm’s fifty day simple moving average is $38.86 and its two-hundred day simple moving average is $43.30. Truist Financial Co. has a 52-week low of $33.56 and a 52-week high of $49.06. The company has a market cap of $50.91 billion, a price-to-earnings ratio of 11.68, a PEG ratio of 1.63 and a beta of 0.83. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61.

Truist Financial (NYSE:TFC) last announced its earnings results on Thursday, April 17th. The insurance provider reported $0.87 EPS for the quarter, meeting analysts’ consensus estimates of $0.87. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The business had revenue of $4.95 billion during the quarter, compared to analysts’ expectations of $4.99 billion. During the same quarter in the prior year, the firm earned $0.90 earnings per share. Equities analysts anticipate that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on TFC shares. Barclays reduced their price target on shares of Truist Financial from $51.00 to $47.00 and set an “equal weight” rating for the company in a research report on Monday, April 21st. Raymond James lowered shares of Truist Financial from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 2nd. Baird R W raised shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Morgan Stanley reduced their price target on shares of Truist Financial from $50.00 to $43.00 and set an “equal weight” rating for the company in a research report on Monday, April 7th. Finally, Citigroup dropped their price objective on shares of Truist Financial from $51.00 to $44.00 and set a “neutral” rating on the stock in a research note on Monday, March 24th. Eight investment 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 company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $48.06.

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.