Truist Financial Co. (NYSE:TFC) Shares Bought by Nicolet Advisory Services LLC

Nicolet Advisory Services LLC lifted its position in shares of Truist Financial Co. (NYSE:TFC – Free Report) by 3.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,138 shares of the insurance provider’s stock after buying an additional 665 shares during the period. Nicolet Advisory Services LLC’s holdings in Truist Financial were worth $776,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in TFC. Thurston Springer Miller Herd & Titak Inc. increased its stake 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 worth $129,000 after acquiring an additional 971 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Truist Financial by 3.5% during 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. Country Club Bank lifted its position in Truist Financial by 719.8% in the fourth quarter. Country Club Bank now owns 45,499 shares of the insurance provider’s stock valued at $1,973,000 after buying an additional 39,949 shares during the last quarter. David Wealth Management LLC purchased a new position in Truist Financial during the fourth quarter worth about $2,354,000. Finally, Glass Wealth Management Co LLC increased its position in shares of Truist Financial by 9.5% during the fourth quarter. Glass Wealth Management Co LLC now owns 67,978 shares of the insurance provider’s stock valued at $2,949,000 after acquiring an additional 5,900 shares during the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Price Performance

Shares of NYSE TFC opened at $37.06 on Friday. The stock’s 50-day simple moving average is $44.21 and its 200-day simple moving average is $44.36. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. The firm has a market capitalization of $48.37 billion, a PE ratio of 11.13, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. Truist Financial Co. has a fifty-two week low of $35.09 and a fifty-two week high of $49.06.

Truist Financial (NYSE:TFC – Get Free Report) last released its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The company had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5.05 billion. During the same quarter last year, the company earned $0.81 earnings per share. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. As a group, equities research analysts forecast that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 5.61%. The ex-dividend date was Friday, February 14th. Truist Financial’s payout ratio is 62.46%.

Analysts Set New Price Targets

TFC has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lowered their price objective on shares of Truist Financial from $48.00 to $42.00 and set a “neutral” rating for the company in a research report on Thursday. Citigroup dropped their price objective on Truist Financial from $51.00 to $44.00 and set a “neutral” rating for the company in a research note on Monday, March 24th. Baird R W raised Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Wells Fargo & Company dropped their target price on Truist Financial from $52.00 to $50.00 and set an “overweight” rating for the company in a research report on Friday, March 28th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $50.42.

View Our Latest Research Report on TFC

Truist Financial Profile

(Free Report)

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.

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