4,888 Shares in Truist Financial Co. (NYSE:TFC) Bought by Ausdal Financial Partners Inc.

Ausdal Financial Partners Inc. purchased a new stake in Truist Financial Co. (NYSE:TFC) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 4,888 shares of the insurance provider’s stock, valued at approximately $212,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Bangor Savings Bank lifted its stake in Truist Financial by 92.5% in the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 272 shares during the last quarter. Hopwood Financial Services Inc. bought a new stake in Truist Financial in the fourth quarter valued at approximately $26,000. Curio Wealth LLC acquired a new stake in shares of Truist Financial in the fourth quarter valued at approximately $45,000. True Wealth Design LLC bought a new position in shares of Truist Financial during the 3rd quarter worth approximately $51,000. Finally, City State Bank increased its holdings in shares of 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 acquiring an additional 716 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Down 2.3 %

Shares of Truist Financial stock opened at $40.46 on Friday. The firm has a market cap of $52.81 billion, a price-to-earnings ratio of 12.15, a PEG ratio of 1.63 and a beta of 1.08. The stock’s 50-day moving average is $44.78 and its 200 day moving average is $44.40. 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 Co. has a one year low of $35.09 and a one year high of $49.06.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. The firm had revenue of $5.11 billion for 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% compared to the same quarter last year. During the same period in the prior year, the business earned $0.81 EPS. Equities research analysts anticipate that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a dividend of $0.52 per share. The ex-dividend date was Friday, February 14th. This represents a $2.08 annualized dividend and a dividend yield of 5.14%. Truist Financial’s dividend payout ratio is currently 62.46%.

Analyst Upgrades and Downgrades

TFC has been the subject of a number of research reports. Keefe, Bruyette & Woods raised their target price on shares of Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 21st. Citigroup reduced 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, March 24th. HSBC upgraded Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research note on Tuesday, January 7th. Raymond James boosted their price target on Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Finally, StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. 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 company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $50.68.

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.