TAGStone Capital Inc. Takes Position in Truist Financial Co. (NYSE:TFC)

TAGStone Capital Inc. purchased a new stake in Truist Financial Co. (NYSE:TFC) in the fourth quarter, Holdings Channel.com reports. The fund purchased 5,725 shares of the insurance provider’s stock, valued at approximately $248,000.

A number of other large investors have also recently added to or reduced their stakes in the business. PBMares Wealth Management LLC boosted its holdings in shares of Truist Financial by 0.8% during the fourth quarter. PBMares Wealth Management LLC now owns 29,270 shares of the insurance provider’s stock valued at $1,270,000 after acquiring an additional 224 shares during the period. Koshinski Asset Management Inc. boosted its holdings in shares of Truist Financial by 2.1% during the fourth quarter. Koshinski Asset Management Inc. now owns 10,825 shares of the insurance provider’s stock valued at $470,000 after acquiring an additional 225 shares during the period. Aaron Wealth Advisors LLC boosted its holdings in shares of Truist Financial by 3.0% during the fourth quarter. Aaron Wealth Advisors LLC now owns 7,712 shares of the insurance provider’s stock valued at $335,000 after acquiring an additional 227 shares during the period. FWG Holdings LLC boosted its holdings in shares of Truist Financial by 4.3% during the fourth quarter. FWG Holdings LLC now owns 5,694 shares of the insurance provider’s stock valued at $267,000 after acquiring an additional 234 shares during the period. Finally, Ignite Planners LLC boosted its holdings in shares of Truist Financial by 1.4% during the fourth quarter. Ignite Planners LLC now owns 17,499 shares of the insurance provider’s stock valued at $772,000 after acquiring an additional 246 shares during the period. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Trading Up 0.2 %

Shares of TFC opened at $41.41 on Monday. The business’s 50-day moving average price is $45.12 and its 200 day moving average price is $44.46. The stock has a market capitalization of $54.05 billion, a P/E ratio of 12.43, a P/E/G ratio of 1.63 and a beta of 1.08. Truist Financial Co. has a 1-year low of $35.09 and a 1-year high of $49.06. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, topping 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 firm had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5.05 billion. During the same quarter last year, the business posted $0.81 EPS. Truist Financial’s revenue was up 3.4% on a year-over-year basis. Analysts expect that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.08 annualized dividend and a yield of 5.02%. Truist Financial’s dividend payout ratio (DPR) is presently 62.46%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Baird R W raised shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Stephens lifted their price objective on shares of Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Robert W. Baird upgraded shares of Truist Financial from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $48.00 to $52.00 in a research note on Wednesday, March 5th. Citigroup lifted their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the company a “neutral” rating in a research note on Monday, November 25th. Finally, Piper Sandler lifted their price objective on shares of Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Nine equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Truist Financial presently has a consensus rating of “Moderate Buy” and an average price target of $51.16.

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.