Truist Financial Co. (NYSE:TFC) Position Increased by Sei Investments Co.

Sei Investments Co. lifted its holdings in Truist Financial Co. (NYSE:TFC) by 2.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 989,419 shares of the insurance provider’s stock after buying an additional 25,121 shares during the quarter. Sei Investments Co.’s holdings in Truist Financial were worth $42,920,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bangor Savings Bank lifted its holdings in Truist Financial by 92.5% in the fourth 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. acquired a new stake in shares of Truist Financial during the 4th quarter worth approximately $26,000. Curio Wealth LLC acquired a new stake in shares of Truist Financial during the 4th quarter worth approximately $45,000. True Wealth Design LLC bought a new stake in shares of Truist Financial in the 3rd quarter worth approximately $51,000. Finally, City State Bank grew its stake in Truist Financial by 158.1% during the 4th 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. 71.28% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on TFC. Baird R W raised shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. HSBC raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods raised their price target 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. Piper Sandler lifted 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. Finally, Citigroup decreased their price objective on Truist Financial from $51.00 to $44.00 and set a “neutral” rating for the company in a report on Monday. Nine research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $50.79.

Truist Financial Stock Performance

TFC opened at $42.17 on Tuesday. The business has a fifty day simple moving average of $45.10 and a 200-day simple moving average of $44.45. The firm has a market cap of $55.04 billion, a PE ratio of 12.66, a P/E/G ratio of 1.63 and a beta of 1.08. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. Truist Financial Co. has a fifty-two week low of $35.09 and a fifty-two week high of $49.06.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.03. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The firm had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.05 billion. During the same quarter in the previous year, the company earned $0.81 EPS. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, equities analysts predict that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.93%. The ex-dividend date of this dividend was Friday, February 14th. Truist Financial’s dividend payout ratio (DPR) 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.