Truist Financial Co. (NYSE:TFC) Shares Purchased by NBT Bank N A NY

NBT Bank N A NY boosted its stake in Truist Financial Co. (NYSE:TFC) by 3.0% in the 4th quarter, Holdings Channel reports. The firm owned 12,515 shares of the insurance provider’s stock after purchasing an additional 366 shares during the period. NBT Bank N A NY’s holdings in Truist Financial were worth $543,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in TFC. Assetmark Inc. increased its holdings in Truist Financial by 15.9% in the 3rd quarter. Assetmark Inc. now owns 46,598 shares of the insurance provider’s stock valued at $1,993,000 after purchasing an additional 6,407 shares during the last quarter. Sigma Planning Corp grew its stake in shares of Truist Financial by 5.7% in the third quarter. Sigma Planning Corp now owns 20,467 shares of the insurance provider’s stock worth $875,000 after acquiring an additional 1,106 shares in the last quarter. Axxcess Wealth Management LLC grew its stake in shares of Truist Financial by 10.5% in the third quarter. Axxcess Wealth Management LLC now owns 77,758 shares of the insurance provider’s stock worth $3,326,000 after acquiring an additional 7,376 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of Truist Financial by 332.1% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,210 shares of the insurance provider’s stock worth $52,000 after acquiring an additional 930 shares in the last quarter. Finally, Ashton Thomas Securities LLC acquired a new position in shares of Truist Financial in the third quarter worth $45,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Price Performance

Shares of TFC opened at $40.41 on Tuesday. Truist Financial Co. has a 1-year low of $34.51 and a 1-year high of $49.06. The stock has a market cap of $52.75 billion, a PE ratio of 12.13, 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 current ratio of 0.83 and a quick ratio of 0.83. The firm has a fifty day moving average price of $45.67 and a 200 day moving average price of $44.68.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share 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 firm had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.05 billion. During the same period in the previous year, the company earned $0.81 earnings per share. Truist Financial’s quarterly revenue was up 3.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued 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 dividend yield of 5.15%. Truist Financial’s payout ratio is 62.46%.

Analysts Set New Price Targets

Several research firms have commented on TFC. Barclays boosted their price target on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. Wells Fargo & Company boosted their price target on shares of Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Morgan Stanley boosted 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. Citigroup boosted their target price on shares of Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a research note on Monday, November 25th. Finally, Raymond James boosted their target price on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. 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 MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $51.16.

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.