Harbour Investments Inc. Sells 353 Shares of Truist Financial Co. (NYSE:TFC)

Harbour Investments Inc. lowered its position in Truist Financial Co. (NYSE:TFC) by 8.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,960 shares of the insurance provider’s stock after selling 353 shares during the period. Harbour Investments Inc.’s holdings in Truist Financial were worth $172,000 as of its most recent SEC filing.

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% in the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock worth $25,000 after acquiring an additional 272 shares during the last quarter. Hopwood Financial Services Inc. purchased a new stake in shares of Truist Financial in the fourth quarter worth approximately $26,000. City State Bank raised 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 purchasing an additional 716 shares during the last quarter. True Wealth Design LLC purchased a new position in shares of Truist Financial during the third quarter valued at approximately $51,000. Finally, Brown Lisle Cummings Inc. bought a new stake in Truist Financial during the fourth quarter worth $55,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Compass Point lifted their price objective on shares of Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Keefe, Bruyette & Woods upped their price objective on shares of Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 21st. Piper Sandler increased their price objective on shares of Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. HSBC upgraded Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research note on Tuesday, January 7th. Finally, Stephens increased their price target on Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Nine research 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’s stock. Based on data from MarketBeat.com, Truist Financial has a consensus rating of “Moderate Buy” and a consensus price target of $51.16.

Truist Financial Trading Up 0.2 %

Shares of TFC stock opened at $41.41 on Friday. The stock has a market capitalization of $54.05 billion, a price-to-earnings ratio of 12.43, a PEG ratio of 1.63 and a beta of 1.08. The company’s fifty day simple moving average is $45.12 and its two-hundred day simple moving average is $44.45. 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 current ratio of 0.83 and a quick ratio of 0.83.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. The business had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.81 EPS. As a group, analysts anticipate 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. Stockholders of record on Friday, February 14th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.08 annualized dividend and a dividend yield of 5.02%. Truist Financial’s dividend payout ratio (DPR) is presently 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.