Truist Financial Co. (NYSE:TFC) is Hardin Capital Partners LLC’s 5th Largest Position

Hardin Capital Partners LLC trimmed its holdings in shares of Truist Financial Co. (NYSE:TFC) by 3.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,115 shares of the insurance provider’s stock after selling 1,999 shares during the quarter. Truist Financial accounts for about 1.5% of Hardin Capital Partners LLC’s portfolio, making the stock its 5th largest position. Hardin Capital Partners LLC’s holdings in Truist Financial were worth $2,434,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in TFC. PBMares Wealth Management LLC boosted its position in shares of Truist Financial by 0.8% during the 4th quarter. PBMares Wealth Management LLC now owns 29,270 shares of the insurance provider’s stock valued at $1,270,000 after acquiring an additional 224 shares during the last quarter. Koshinski Asset Management Inc. increased its position in Truist Financial by 2.1% during the fourth quarter. Koshinski Asset Management Inc. now owns 10,825 shares of the insurance provider’s stock worth $470,000 after purchasing an additional 225 shares during the last quarter. Aaron Wealth Advisors LLC raised its stake in Truist Financial by 3.0% during the fourth quarter. Aaron Wealth Advisors LLC now owns 7,712 shares of the insurance provider’s stock worth $335,000 after purchasing an additional 227 shares during the period. FWG Holdings LLC boosted its holdings in Truist Financial by 4.3% in the 4th quarter. FWG Holdings LLC now owns 5,694 shares of the insurance provider’s stock valued at $267,000 after purchasing an additional 234 shares during the last quarter. Finally, Ignite Planners LLC grew its stake in shares of Truist Financial by 1.4% in the 4th quarter. Ignite Planners LLC now owns 17,499 shares of the insurance provider’s stock valued at $772,000 after buying an additional 246 shares during the period. 71.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on TFC shares. Morgan Stanley lifted their price target on shares of Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. Robert W. Baird upgraded shares of Truist Financial from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $48.00 to $52.00 in a report on Wednesday, March 5th. StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. The Goldman Sachs Group boosted their price target on shares of Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Piper Sandler upped their price objective on shares of Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Nine analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $50.79.

Truist Financial Stock Down 0.5 %

Shares of NYSE:TFC opened at $41.96 on Wednesday. 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. The stock has a market cap of $54.77 billion, a price-to-earnings ratio of 12.60, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. The firm’s 50 day moving average price is $45.06 and its 200 day moving average price is $44.45.

Truist Financial (NYSE:TFC) last released 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 net margin of 15.59% and a return on equity of 9.32%. The business had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.05 billion. During the same period in the previous year, the company earned $0.81 EPS. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. As a group, equities research analysts predict that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently announced 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. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.96%. The ex-dividend date was Friday, February 14th. Truist Financial’s dividend payout ratio (DPR) is currently 62.46%.

Truist Financial 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.