Davis R M Inc. Buys 1,038 Shares of Truist Financial Co. (NYSE:TFC)

Davis R M Inc. lifted its stake in shares of Truist Financial Co. (NYSE:TFC) by 20.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,036 shares of the insurance provider’s stock after buying an additional 1,038 shares during the quarter. Davis R M Inc.’s holdings in Truist Financial were worth $262,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Tradewinds LLC. raised its holdings in Truist Financial by 0.5% in the third quarter. Tradewinds LLC. now owns 44,513 shares of the insurance provider’s stock worth $1,904,000 after purchasing an additional 222 shares in the last quarter. PBMares Wealth Management LLC grew its position in shares of Truist Financial by 0.8% in the 4th quarter. PBMares Wealth Management LLC now owns 29,270 shares of the insurance provider’s stock worth $1,270,000 after buying an additional 224 shares during the period. Koshinski Asset Management Inc. increased its stake in shares of Truist Financial by 2.1% in the 4th quarter. Koshinski Asset Management Inc. now owns 10,825 shares of the insurance provider’s stock worth $470,000 after acquiring an additional 225 shares in the last quarter. Aaron Wealth Advisors LLC lifted its position in Truist Financial by 3.0% during the 4th quarter. Aaron Wealth Advisors LLC now owns 7,712 shares of the insurance provider’s stock valued at $335,000 after acquiring an additional 227 shares during the period. Finally, FWG Holdings LLC boosted its stake in Truist Financial by 4.3% during the fourth quarter. FWG Holdings LLC now owns 5,694 shares of the insurance provider’s stock worth $267,000 after acquiring an additional 234 shares in the last quarter. 71.28% of the stock is owned by institutional investors.

Truist Financial Stock Performance

Shares of TFC opened at $39.96 on Wednesday. The business has a 50-day simple moving average of $45.60 and a two-hundred day simple moving average of $44.65. 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 52 week low of $34.51 and a 52 week high of $49.06. The stock has a market cap of $52.16 billion, a price-to-earnings ratio of 12.00, a PEG ratio of 1.63 and a beta of 1.08.

Truist Financial (NYSE:TFC) last released its earnings results on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. The company had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The firm’s revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.81 EPS. On average, analysts expect that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 5.21%. The ex-dividend date of this dividend was Friday, February 14th. Truist Financial’s dividend payout ratio is currently 62.46%.

Analyst Ratings Changes

A number of research analysts recently weighed in on TFC shares. The Goldman Sachs Group raised their price objective on Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Keefe, Bruyette & Woods raised their price target on Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Tuesday, January 21st. Citigroup upped their price target on shares of Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a research note on Monday, November 25th. Baird R W upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Finally, HSBC raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a report on Tuesday, January 7th. Nine equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $51.16.

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.