Arizona State Retirement System Buys 884 Shares of Truist Financial Co. (NYSE:TFC)

Arizona State Retirement System increased its stake in Truist Financial Co. (NYSE:TFC) by 0.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 384,460 shares of the insurance provider’s stock after purchasing an additional 884 shares during the quarter. Arizona State Retirement System’s holdings in Truist Financial were worth $16,678,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of TFC. Bangor Savings Bank raised its holdings in shares of Truist Financial by 92.5% in the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 272 shares during the period. Valley Wealth Managers Inc. bought a new stake in shares of Truist Financial in the 3rd quarter worth approximately $26,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Truist Financial in the 3rd quarter worth approximately $32,000. Ashton Thomas Securities LLC bought a new stake in shares of Truist Financial in the 3rd quarter worth approximately $45,000. Finally, True Wealth Design LLC bought a new stake in Truist Financial during the 3rd quarter valued at $51,000. Institutional investors own 71.28% of the company’s stock.

Analyst Upgrades and Downgrades

TFC has been the topic of a number of analyst reports. Morgan Stanley boosted their target price on shares of Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. Piper Sandler boosted their target price on shares of Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Robert W. Baird raised shares of Truist Financial from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $48.00 to $52.00 in a report on Wednesday. Keefe, Bruyette & Woods boosted their target price on shares of Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Tuesday, January 21st. Finally, Citigroup boosted their target price on shares of Truist Financial from $47.00 to $51.00 and gave the company a “neutral” rating in a report on Monday, November 25th. Ten equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.16.

Truist Financial Stock Down 1.5 %

Shares of NYSE:TFC opened at $43.11 on Thursday. Truist Financial Co. has a 52-week low of $34.51 and a 52-week high of $49.06. The firm has a fifty day moving average of $45.79 and a 200 day moving average of $44.67. The firm has a market capitalization of $56.27 billion, a PE ratio of 12.94, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83.

Truist Financial (NYSE:TFC) last announced its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.03. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The company had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.05 billion. During the same period in the previous year, the business earned $0.81 earnings per share. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. As a group, research analysts anticipate that Truist Financial Co. will post 4 EPS for the current fiscal 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 annualized dividend and a yield of 4.83%. Truist Financial’s dividend payout ratio (DPR) is presently 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.