Truist Financial Co. (NYSE:TFC) Shares Sold by Financial Counselors Inc.
Financial Counselors Inc. reduced its stake in Truist Financial Co. (NYSE:TFC) by 4.2% in Q4, now holding 261,857 shares valued at $11.36 million. Other investors, including Thurston Springer and Principal Financial, adjusted their positions as well. Truist's stock opened at $41.97, with a market cap of $54.79 billion and a P/E ratio of 12.60. The company reported Q4 earnings of $0.91 per share, exceeding estimates, and declared a quarterly dividend of $0.52, yielding 4.96%. Analysts have mixed ratings, with several upgrading their price targets.
Financial Counselors Inc. decreased its position in Truist Financial Co. (NYSE:TFC - Free Report) by 4.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 261,857 shares of the insurance provider's stock after selling 11,622 shares during the quarter. Financial Counselors Inc.'s holdings in Truist Financial were worth $11,359,000 as of its most recent SEC filing.
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Other institutional investors have also made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Truist Financial by 48.7% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,963 shares of the insurance provider's stock worth $129,000 after purchasing an additional 971 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Truist Financial by 3.5% during the third quarter. Principal Financial Group Inc. now owns 1,511,299 shares of the insurance provider's stock valued at $64,638,000 after purchasing an additional 50,637 shares during the last quarter. Cadence Bank increased its position in Truist Financial by 101.6% in the third quarter. Cadence Bank now owns 185,184 shares of the insurance provider's stock worth $7,920,000 after buying an additional 93,322 shares during the period. Country Club Bank boosted its stake in Truist Financial by 719.8% during the 4th quarter. Country Club Bank now owns 45,499 shares of the insurance provider's stock valued at $1,973,000 after purchasing an additional 39,949 shares during the period. Finally, David Wealth Management LLC bought a new position in Truist Financial in the 4th quarter worth about $2,354,000. 71.28% of the stock is currently owned by institutional investors.
Truist Financial Trading Down 0.1 %
Shares of TFC opened at $41.97 on Thursday. The business's 50-day moving average price is $45.00 and its 200 day moving average price is $44.43. 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 stock has a market capitalization of $54.79 billion, a P/E ratio of 12.60, 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.
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Truist Financial (NYSE:TFC - Get Free Report) last released its quarterly 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 net margin of 15.59% and a return on equity of 9.32%. The business had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.05 billion. During the same quarter in the previous year, the business earned $0.81 earnings per share. The firm's revenue was up 3.4% compared to the same quarter last year. Analysts expect that Truist Financial Co. will post 4 earnings per share for the current year.
Truist Financial Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.96%. The ex-dividend date was Friday, February 14th. Truist Financial's dividend payout ratio (DPR) is presently 62.46%.
Wall Street Analysts Forecast Growth
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A number of equities analysts recently issued reports on TFC shares. Hsbc Global Res raised Truist Financial from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 7th. Keefe, Bruyette & Woods increased their price target on Truist Financial from $55.00 to $57.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 21st. Morgan Stanley lifted their price objective on shares of Truist Financial from $55.00 to $56.00 and gave the company 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 report on Friday, January 17th. Finally, Piper Sandler boosted their price target on shares of Truist Financial from $46.00 to $51.00 and gave the stock a "neutral" rating in a research report on Tuesday, December 3rd. Nine equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Truist Financial has an average rating of "Moderate Buy" and a consensus target price of $50.79.
Check Out Our Latest Stock Report on Truist Financial
Truist Financial Profile
(Free Report)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.
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