Commonwealth of Pennsylvania Public School Empls Retrmt SYS Trims Position in Truist Financial Co. (NYSE:TFC)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS decreased its position in shares of Truist Financial Co. (NYSE:TFC) by 3.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 282,271 shares of the insurance provider’s stock after selling 9,248 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Truist Financial were worth $12,245,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Bangor Savings Bank raised its stake in Truist Financial by 92.5% during the fourth 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. Hopwood Financial Services Inc. purchased a new position in Truist Financial during the fourth quarter worth approximately $26,000. Curio Wealth LLC purchased a new position in Truist Financial during the fourth quarter worth approximately $45,000. True Wealth Design LLC purchased a new position in Truist Financial during the third quarter worth approximately $51,000. Finally, City State Bank raised its stake in Truist Financial by 158.1% during the fourth quarter. City State Bank now owns 1,169 shares of the insurance provider’s stock worth $51,000 after purchasing an additional 716 shares during the period. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on TFC shares. Citigroup increased their price target 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. Barclays raised their target price on shares of Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Keefe, Bruyette & Woods raised their target price on shares of Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a research note on Tuesday, January 21st. Raymond James raised their target price on shares of Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Finally, Compass Point raised their target price on shares of Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Nine investment 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 company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $51.16.

Truist Financial Price Performance

TFC opened at $41.41 on Friday. The company has a 50-day moving average of $45.12 and a 200-day moving average of $44.45. The company has a market capitalization of $54.05 billion, a P/E ratio of 12.43, a PEG ratio of 1.63 and a beta of 1.08. Truist Financial Co. has a 1-year low of $35.09 and a 1-year high of $49.06. 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 released 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 company had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.05 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The company’s revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.81 EPS. Equities analysts expect that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 5.02%. The ex-dividend date was Friday, February 14th. Truist Financial’s payout ratio is currently 62.46%.

Truist Financial 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.