Rakuten Securities Inc. Has $268,000 Position in Truist Financial Co. (NYSE:TFC)

Rakuten Securities Inc. cut its holdings in Truist Financial Co. (NYSE:TFC) by 5.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,185 shares of the insurance provider’s stock after selling 336 shares during the quarter. Rakuten Securities Inc.’s holdings in Truist Financial were worth $268,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Bangor Savings Bank grew its holdings in Truist Financial by 92.5% during the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 272 shares during the last quarter. Valley Wealth Managers Inc. bought a new stake in shares of Truist Financial during the 3rd quarter worth $26,000. Hopwood Financial Services Inc. acquired a new position in Truist Financial in the 4th quarter valued at $26,000. MidAtlantic Capital Management Inc. bought a new position in Truist Financial in the 3rd quarter worth $32,000. Finally, Ashton Thomas Securities LLC acquired a new position in Truist Financial during the 3rd quarter worth $45,000. 71.28% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Robert W. Baird raised Truist Financial from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $48.00 to $52.00 in a research report on Wednesday, March 5th. Piper Sandler upped their price target on Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Morgan Stanley boosted their target price on shares of Truist Financial from $55.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. Citigroup raised their price target on shares of Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. Finally, Hsbc Global Res raised shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Nine investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Truist Financial presently has a consensus rating of “Moderate Buy” and an average price target of $51.16.

Truist Financial Stock Performance

TFC opened at $39.96 on Wednesday. The company has a market cap of $52.16 billion, a price-to-earnings ratio of 12.00, a PEG ratio of 1.63 and a beta of 1.08. The company’s fifty day moving average price is $45.60 and its two-hundred day moving average price is $44.65. Truist Financial Co. has a 1-year low of $34.51 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 announced its quarterly 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 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 analysts’ expectations of $5.05 billion. During the same quarter last year, the firm earned $0.81 EPS. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, analysts expect that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a $0.52 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a yield of 5.21%. Truist Financial’s dividend payout ratio (DPR) is presently 62.46%.

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.