Johnson Investment Counsel Inc. Grows Stock Position in Truist Financial Co. (NYSE:TFC)

Johnson Investment Counsel Inc. boosted its stake in Truist Financial Co. (NYSE:TFC) by 74.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,276 shares of the insurance provider’s stock after acquiring an additional 5,650 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Truist Financial were worth $576,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Daiwa Securities Group Inc. boosted its holdings in Truist Financial by 7.4% in the 4th quarter. Daiwa Securities Group Inc. now owns 175,396 shares of the insurance provider’s stock worth $7,609,000 after acquiring an additional 12,023 shares during the period. FWG Holdings LLC boosted its holdings in Truist Financial by 4.3% in the 4th quarter. FWG Holdings LLC now owns 5,694 shares of the insurance provider’s stock worth $267,000 after acquiring an additional 234 shares during the period. NBT Bank N A NY boosted its stake in shares of Truist Financial by 3.0% during the 4th quarter. NBT Bank N A NY now owns 12,515 shares of the insurance provider’s stock valued at $543,000 after buying an additional 366 shares during the last quarter. SLT Holdings LLC purchased a new position in shares of Truist Financial during the 4th quarter valued at approximately $482,000. Finally, Sound View Wealth Advisors Group LLC boosted its stake in shares of Truist Financial by 3.3% during the 4th quarter. Sound View Wealth Advisors Group LLC now owns 28,126 shares of the insurance provider’s stock valued at $1,220,000 after buying an additional 901 shares during the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TFC. Baird R W upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Hsbc Global Res upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Morgan Stanley increased their target price on Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. The Goldman Sachs Group increased their target price on Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Barclays increased their target price on Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Nine analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $51.16.

Truist Financial Price Performance

Shares of NYSE TFC opened at $39.80 on Thursday. Truist Financial Co. has a 1-year low of $34.51 and a 1-year high of $49.06. 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 business’s fifty day moving average price is $45.53 and its two-hundred day moving average price is $44.62. The firm has a market capitalization of $51.95 billion, a PE ratio of 11.95, a P/E/G ratio of 1.63 and a beta of 1.08.

Truist Financial (NYSE:TFC) last issued its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.03. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. 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 company earned $0.81 earnings per share. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. On average, research analysts expect that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.23%. The ex-dividend date of this dividend was Friday, February 14th. Truist Financial’s dividend payout ratio (DPR) is 62.46%.

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.