Truist Financial Co. (NYSE:TFC) Shares Acquired by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans grew its stake in Truist Financial Co. (NYSE:TFC) by 105.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 168,585 shares of the insurance provider’s stock after buying an additional 86,330 shares during the period. Thrivent Financial for Lutherans’ holdings in Truist Financial were worth $7,328,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in TFC. Quest Partners LLC grew its stake in Truist Financial by 81.1% during the 3rd quarter. Quest Partners LLC now owns 4,754 shares of the insurance provider’s stock valued at $203,000 after purchasing an additional 2,129 shares during the last quarter. Citizens Financial Group Inc. RI lifted its holdings in shares of Truist Financial by 10.9% during the third quarter. Citizens Financial Group Inc. RI now owns 9,548 shares of the insurance provider’s stock worth $408,000 after purchasing an additional 938 shares during the period. Intech Investment Management LLC boosted its position in Truist Financial by 34.5% in the third quarter. Intech Investment Management LLC now owns 19,390 shares of the insurance provider’s stock valued at $829,000 after buying an additional 4,975 shares during the last quarter. Banco Santander S.A. acquired a new position in Truist Financial in the 3rd quarter worth approximately $238,000. Finally, Meridian Wealth Management LLC increased its holdings in Truist Financial by 1.3% in the 3rd quarter. Meridian Wealth Management LLC now owns 21,733 shares of the insurance provider’s stock worth $930,000 after buying an additional 280 shares during the period. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Piper Sandler upped their price objective on shares of Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Stephens upped their price target on shares of Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Compass Point increased their price target on Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. HSBC raised Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Tuesday, January 7th. Finally, Hsbc Global Res raised Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Nine equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Truist Financial currently has an average rating of “Moderate Buy” and a consensus target price of $51.16.

Truist Financial Trading Up 0.2 %

TFC stock opened at $41.41 on Monday. The business’s 50-day moving average is $45.12 and its 200 day moving average is $44.46. Truist Financial Co. has a 12-month low of $35.09 and a 12-month high of $49.06. The stock has a market cap 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 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 issued its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.88 by $0.03. The firm had revenue of $5.11 billion during 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 revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.81 earnings per share. On average, sell-side analysts anticipate that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were paid 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 dividend 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.