Truist Financial Co. (NYSE:TFC) Position Boosted by Prudential Financial Inc.

Prudential Financial Inc. grew its position in Truist Financial Co. (NYSE:TFC) by 26.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,232,287 shares of the insurance provider’s stock after purchasing an additional 684,992 shares during the period. Prudential Financial Inc.’s holdings in Truist Financial were worth $140,217,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in TFC. Bangor Savings Bank raised its holdings in shares of Truist Financial by 92.5% during the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 272 shares in the last quarter. Hopwood Financial Services Inc. acquired a new position in Truist Financial during the fourth quarter worth $26,000. Curio Wealth LLC bought a new position in shares of Truist Financial in the 4th quarter valued at approximately $45,000. City State Bank lifted its stake in shares of Truist Financial by 158.1% in the fourth quarter. City State Bank now owns 1,169 shares of the insurance provider’s stock worth $51,000 after buying an additional 716 shares during the last quarter. Finally, True Wealth Design LLC bought a new position in Truist Financial in the 3rd quarter worth $51,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on TFC shares. Hsbc Global Res upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Citigroup boosted their price target on Truist Financial from $47.00 to $51.00 and gave the company a “neutral” rating in a research note on Monday, November 25th. Robert W. Baird raised Truist Financial from a “neutral” rating to an “outperform” rating and upped their price target for the company from $48.00 to $52.00 in a report on Wednesday, March 5th. Morgan Stanley lifted their price objective on Truist Financial from $55.00 to $56.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. Finally, Barclays raised their target price on Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Nine equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Truist Financial has a consensus rating of “Moderate Buy” and an average price target of $51.16.

Truist Financial Trading Up 0.2 %

TFC opened at $41.41 on Monday. Truist Financial Co. has a twelve month low of $35.09 and a twelve month high of $49.06. The firm has a market cap of $54.05 billion, a PE ratio of 12.43, 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. The firm’s fifty day moving average is $45.12 and its two-hundred day moving average is $44.46.

Truist Financial (NYSE:TFC) last posted its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.03. The firm had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.81 earnings per share. Equities research analysts anticipate that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 5.02%. The ex-dividend date of this dividend was Friday, February 14th. Truist Financial’s payout ratio is currently 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.