Intrust Bank NA Has $501,000 Holdings in Truist Financial Co. (NYSE:TFC)

Intrust Bank NA lessened its position in shares of Truist Financial Co. (NYSE:TFC) by 4.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,541 shares of the insurance provider’s stock after selling 599 shares during the period. Intrust Bank NA’s holdings in Truist Financial were worth $501,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of 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 purchasing an additional 971 shares during the period. Principal Financial Group Inc. increased its holdings in Truist Financial by 3.5% in the third quarter. Principal Financial Group Inc. now owns 1,511,299 shares of the insurance provider’s stock worth $64,638,000 after purchasing an additional 50,637 shares in the last quarter. Country Club Bank lifted its stake in Truist Financial by 719.8% in the fourth 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. David Wealth Management LLC bought a new position in shares of Truist Financial during the 4th quarter worth approximately $2,354,000. Finally, Glass Wealth Management Co LLC grew its position in shares of Truist Financial by 9.5% during the 4th quarter. Glass Wealth Management Co LLC now owns 67,978 shares of the insurance provider’s stock worth $2,949,000 after buying an additional 5,900 shares during the period. Institutional investors own 71.28% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on TFC shares. Raymond James increased their price target on Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. HSBC raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research report on Tuesday, January 7th. StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, January 17th. Piper Sandler lifted 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. Finally, Morgan Stanley upped their target price on shares of Truist Financial from $55.00 to $56.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. Nine investment 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 stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $50.68.

Truist Financial Price Performance

Shares of NYSE:TFC opened at $40.46 on Friday. The company has a market capitalization of $52.81 billion, a P/E ratio of 12.15, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. The company’s 50-day moving average is $44.78 and its 200 day moving average is $44.42. 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 Co. has a fifty-two week low of $35.09 and a fifty-two week high of $49.06.

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, 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 for the quarter, compared to analysts’ expectations of $5.05 billion. During the same period in the previous year, the company earned $0.81 earnings per share. The company’s quarterly revenue was up 3.4% on a year-over-year basis. On average, equities research analysts forecast that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 5.14%. Truist Financial’s dividend payout ratio 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.