Frank Rimerman Advisors LLC Boosts Stock Position in Truist Financial Co. (NYSE:TFC)

Frank Rimerman Advisors LLC boosted its holdings in shares of Truist Financial Co. (NYSE:TFC) by 3.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,448 shares of the insurance provider’s stock after purchasing an additional 1,094 shares during the period. Frank Rimerman Advisors LLC’s holdings in Truist Financial were worth $1,277,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Bangor Savings Bank increased its stake in shares of Truist Financial by 92.5% during the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock valued at $25,000 after buying an additional 272 shares during the period. Valley Wealth Managers Inc. purchased a new position in Truist Financial during the 3rd quarter valued at $26,000. Hopwood Financial Services Inc. bought a new position in Truist Financial in the 4th quarter worth $26,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Truist Financial in the 3rd quarter worth about $32,000. Finally, 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 valued at $51,000 after purchasing an additional 716 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Analysts Set New Price Targets

TFC has been the subject of a number of research reports. Piper Sandler increased their price target on shares of Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Robert W. Baird upgraded Truist Financial from a “neutral” rating to an “outperform” rating and raised their target price for the company from $48.00 to $52.00 in a research note on Wednesday, March 5th. 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 note on Tuesday, January 7th. Stephens raised their price objective on Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Finally, The Goldman Sachs Group upped their target price on shares of Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Nine equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Truist Financial currently has an average rating of “Moderate Buy” and a consensus price target of $51.16.

Truist Financial Stock Performance

Shares of NYSE TFC opened at $40.54 on Friday. The firm’s 50-day moving average price is $45.38 and its 200-day moving average price is $44.56. Truist Financial Co. has a 52-week low of $34.51 and a 52-week high of $49.06. The company has a market cap of $52.92 billion, a PE ratio of 12.17, a PEG ratio of 1.63 and a beta of 1.08. 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 posted its earnings results on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, topping 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 business had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.05 billion. During the same quarter in the previous year, the firm posted $0.81 EPS. The firm’s revenue was up 3.4% on a year-over-year basis. As a group, analysts anticipate that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued 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 yield of 5.13%. 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.