AlphaQuest LLC Has $470,000 Stock Position in Truist Financial Co. (NYSE:TFC)

AlphaQuest LLC boosted its holdings in shares of Truist Financial Co. (NYSE:TFC) by 127.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,824 shares of the insurance provider’s stock after buying an additional 6,070 shares during the period. AlphaQuest LLC’s holdings in Truist Financial were worth $470,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. raised its position in Truist Financial by 48.7% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,963 shares of the insurance provider’s stock valued at $129,000 after buying an additional 971 shares during the period. Principal Financial Group Inc. increased its position in Truist Financial by 3.5% in the 3rd 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 during the last quarter. Cadence Bank increased its position in Truist Financial by 101.6% in the 3rd quarter. Cadence Bank now owns 185,184 shares of the insurance provider’s stock worth $7,920,000 after purchasing an additional 93,322 shares during the last quarter. Country Club Bank increased its position in Truist Financial by 719.8% in the 4th quarter. Country Club Bank now owns 45,499 shares of the insurance provider’s stock worth $1,973,000 after purchasing an additional 39,949 shares during the last quarter. Finally, David Wealth Management LLC acquired a new position in Truist Financial in the 4th quarter worth about $2,354,000. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Trading Down 0.3 %

Truist Financial stock opened at $39.80 on Thursday. The business has a 50 day moving average price of $45.53 and a two-hundred day moving average price of $44.62. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. The stock has a market cap of $51.95 billion, a price-to-earnings ratio of 11.95, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. Truist Financial Co. has a 12 month low of $34.51 and a 12 month high of $49.06.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, beating 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 company’s revenue for the quarter 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, equities analysts forecast that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.08 annualized dividend and a yield of 5.23%. Truist Financial’s dividend payout ratio (DPR) is 62.46%.

Analyst Upgrades and Downgrades

TFC has been the topic of several research reports. HSBC raised Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research report on Tuesday, January 7th. Robert W. Baird upgraded Truist Financial from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $48.00 to $52.00 in a research note on Wednesday, March 5th. Stephens upped their price target on Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. The Goldman Sachs Group upped their price target on Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, Citigroup upped their price target on Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a research note on Monday, November 25th. Nine 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $51.16.

About Truist Financial

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.