Argentarii LLC Buys Shares of 32,892 Truist Financial Co. (NYSE:TFC)

Argentarii LLC bought a new stake in Truist Financial Co. (NYSE:TFC) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 32,892 shares of the insurance provider’s stock, valued at approximately $1,427,000.

Several other large investors also recently added to or reduced their stakes in the stock. Graypoint LLC boosted its stake in shares of Truist Financial by 10.5% in the 3rd quarter. Graypoint LLC now owns 6,195 shares of the insurance provider’s stock valued at $265,000 after buying an additional 589 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Truist Financial by 3.5% in the 3rd quarter. Principal Financial Group Inc. now owns 1,511,299 shares of the insurance provider’s stock valued at $64,638,000 after buying an additional 50,637 shares during the period. Capital Performance Advisors LLP purchased a new position in shares of Truist Financial in the 3rd quarter valued at about $58,000. Equitable Trust Co. boosted its stake in shares of Truist Financial by 46.4% in the 3rd quarter. Equitable Trust Co. now owns 97,222 shares of the insurance provider’s stock valued at $4,158,000 after buying an additional 30,795 shares during the period. Finally, CWA Asset Management Group LLC purchased a new position in shares of Truist Financial in the 3rd quarter valued at about $1,913,000. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Robert W. Baird upgraded Truist Financial from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $48.00 to $52.00 in a research note on Wednesday. HSBC raised Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Tuesday, January 7th. Stephens lifted their price target on Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Wells Fargo & Company lifted their price target on Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Finally, Barclays lifted their price target on Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. 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 stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $51.16.

Truist Financial Stock Up 0.0 %

Shares of NYSE:TFC opened at $42.25 on Friday. 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 Co. has a 52-week low of $34.51 and a 52-week high of $49.06. The stock’s fifty day simple moving average is $45.73 and its 200-day simple moving average is $44.67. The company has a market capitalization of $55.15 billion, a P/E ratio of 12.69, a P/E/G ratio of 1.63 and a beta of 1.08.

Truist Financial (NYSE:TFC) last posted its earnings results 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 return on equity of 9.32% and a net margin of 15.59%. The business had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.05 billion. During the same quarter last year, the firm earned $0.81 earnings per share. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, equities research analysts forecast that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.92%. The ex-dividend date of this dividend was Friday, February 14th. Truist Financial’s dividend payout ratio is currently 62.46%.

Truist Financial Company 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.