Aviance Capital Partners LLC Acquires 3,093 Shares of Truist Financial Co. (NYSE:TFC)

Aviance Capital Partners LLC boosted its holdings in Truist Financial Co. (NYSE:TFC) by 36.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,673 shares of the insurance provider’s stock after acquiring an additional 3,093 shares during the quarter. Aviance Capital Partners LLC’s holdings in Truist Financial were worth $506,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. lifted its position in Truist Financial by 48.7% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,963 shares of the insurance provider’s stock valued at $129,000 after acquiring an additional 971 shares in the last quarter. Principal Financial Group Inc. lifted its position in Truist Financial by 3.5% in the 3rd quarter. Principal Financial Group Inc. now owns 1,511,299 shares of the insurance provider’s stock valued at $64,638,000 after acquiring an additional 50,637 shares in the last quarter. Cadence Bank lifted its holdings in shares of Truist Financial by 101.6% during the 3rd quarter. Cadence Bank now owns 185,184 shares of the insurance provider’s stock valued at $7,920,000 after buying an additional 93,322 shares during the period. Country Club Bank lifted its holdings in shares of 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 buying an additional 39,949 shares during the period. Finally, David Wealth Management LLC bought a new position in shares of Truist Financial during the 4th quarter valued at $2,354,000. 71.28% of the stock is owned by institutional investors.

Truist Financial Stock Up 0.0 %

Shares of NYSE:TFC opened at $42.25 on Friday. 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 Co. has a 12 month low of $34.51 and a 12 month high of $49.06. The company has a 50-day moving average price of $45.73 and a 200 day moving average price of $44.65. The company has a market cap of $55.15 billion, a price-to-earnings ratio of 12.69, a PEG ratio of 1.63 and a beta of 1.08.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 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 firm had revenue of $5.11 billion during the quarter, compared to the consensus estimate 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. As a group, equities research analysts predict that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

The company 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. This represents a $2.08 annualized dividend and a yield of 4.92%. The ex-dividend date of this dividend was Friday, February 14th. Truist Financial’s payout ratio is currently 62.46%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Piper Sandler increased their price target on Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. HSBC raised Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a report on Tuesday, January 7th. Wells Fargo & Company raised their target price on Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Raymond James raised their target price on Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, Stephens raised their target price on Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Nine research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Truist Financial currently has a consensus rating of “Moderate Buy” and an average price target 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.