Truist Financial Co. (NYSE:TFC) Shares Purchased by L & S Advisors Inc

L & S Advisors Inc lifted its holdings in Truist Financial Co. (NYSE:TFC) by 36.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 104,399 shares of the insurance provider’s stock after buying an additional 27,700 shares during the quarter. L & S Advisors Inc’s holdings in Truist Financial were worth $4,529,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. State Street Corp boosted its position in Truist Financial by 4.6% during the 3rd quarter. State Street Corp now owns 61,864,957 shares of the insurance provider’s stock worth $2,645,964,000 after purchasing an additional 2,720,223 shares during the period. Geode Capital Management LLC boosted its position in shares of Truist Financial by 1.7% in the third quarter. Geode Capital Management LLC now owns 27,440,951 shares of the insurance provider’s stock worth $1,169,350,000 after buying an additional 456,412 shares during the period. Amundi grew its stake in shares of Truist Financial by 6.5% in the fourth quarter. Amundi now owns 23,683,345 shares of the insurance provider’s stock valued at $1,040,718,000 after buying an additional 1,450,323 shares in the last quarter. American Century Companies Inc. grew its position in Truist Financial by 7.9% in the fourth quarter. American Century Companies Inc. now owns 9,882,885 shares of the insurance provider’s stock valued at $428,720,000 after acquiring an additional 722,749 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Truist Financial during the fourth quarter valued at about $402,828,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on TFC shares. Morgan Stanley lifted their price target on shares of Truist Financial from $55.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 21st. StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. Wells Fargo & Company reduced their price target on shares of Truist Financial from $52.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday. HSBC raised Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Tuesday, January 7th. Finally, Raymond James increased their target price on Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Nine 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $50.68.

Truist Financial Stock Performance

TFC opened at $40.46 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The business’s 50 day moving average is $44.78 and its 200-day moving average is $44.42. The stock has a market cap of $52.81 billion, a PE ratio of 12.15, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. Truist Financial Co. has a twelve month low of $35.09 and a twelve month high of $49.06.

Truist Financial (NYSE:TFC) last announced its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, beating 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 the consensus estimate of $5.05 billion. During the same quarter in the previous year, the business earned $0.81 EPS. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. On average, analysts predict that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a $0.52 dividend. 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 5.14%. Truist Financial’s dividend payout ratio is presently 62.46%.

Truist Financial 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.