Truist Financial Co. (NYSE:TFC) Shares Bought by HBK Sorce Advisory LLC

HBK Sorce Advisory LLC boosted its holdings in shares of Truist Financial Co. (NYSE:TFC) by 25.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,834 shares of the insurance provider’s stock after buying an additional 1,970 shares during the period. HBK Sorce Advisory LLC’s holdings in Truist Financial were worth $427,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Raymond James Financial Inc. purchased a new stake in Truist Financial during the 4th quarter valued at about $198,051,000. State Street Corp grew its stake in Truist Financial by 4.6% during the 3rd quarter. State Street Corp now owns 61,864,957 shares of the insurance provider’s stock valued at $2,645,964,000 after purchasing an additional 2,720,223 shares during the last quarter. Amundi grew its stake in Truist Financial by 6.5% during the 4th quarter. Amundi now owns 23,683,345 shares of the insurance provider’s stock valued at $1,040,718,000 after purchasing an additional 1,450,323 shares during the last quarter. KBC Group NV grew its stake in Truist Financial by 96.9% during the 4th quarter. KBC Group NV now owns 2,031,893 shares of the insurance provider’s stock valued at $88,144,000 after purchasing an additional 999,763 shares during the last quarter. Finally, HighTower Advisors LLC grew its stake in Truist Financial by 26.1% during the 3rd quarter. HighTower Advisors LLC now owns 3,901,891 shares of the insurance provider’s stock valued at $166,892,000 after purchasing an additional 807,648 shares during the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Price Performance

Shares of Truist Financial stock opened at $40.54 on Friday. The business has a 50 day simple moving average of $45.38 and a two-hundred day simple moving average of $44.55. Truist Financial Co. has a 12 month low of $34.51 and a 12 month high of $49.06. The stock has a market capitalization of $52.92 billion, a P/E ratio of 12.17, a PEG ratio of 1.63 and a beta of 1.08. 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 announced its earnings results on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The business had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.05 billion. During the same quarter in the prior year, the firm earned $0.81 earnings per share. The business’s revenue was up 3.4% compared to the same quarter last year. As a group, analysts predict that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a $0.52 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.08 annualized dividend and a dividend yield of 5.13%. Truist Financial’s dividend payout ratio is presently 62.46%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TFC. Hsbc Global Res upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Barclays boosted their price target on Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. The Goldman Sachs Group upped their target price on Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Citigroup upped their target price on Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a research note on Monday, November 25th. Finally, Compass Point upped their target price on Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $51.16.

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.