First National Trust Co Purchases 7,069 Shares of Truist Financial Co. (NYSE:TFC)

by · The Markets Daily

First National Trust Co increased its stake in Truist Financial Co. (NYSE:TFC – Free Report) by 3.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 212,428 shares of the insurance provider’s stock after buying an additional 7,069 shares during the period. First National Trust Co’s holdings in Truist Financial were worth $9,215,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Bangor Savings Bank raised its holdings in shares of Truist Financial by 92.5% in the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock valued at $25,000 after acquiring an additional 272 shares in the last quarter. Valley Wealth Managers Inc. purchased a new position in Truist Financial during the 3rd quarter valued at about $26,000. Hopwood Financial Services Inc. bought a new stake in shares of Truist Financial in the 4th quarter valued at about $26,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Truist Financial in the 3rd quarter worth approximately $32,000. Finally, Ashton Thomas Securities LLC bought a new position in shares of Truist Financial during the third quarter valued at approximately $45,000. 71.28% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on TFC shares. Stephens raised their price target on shares of Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Baird R W raised shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. The Goldman Sachs Group raised their price objective on Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Piper Sandler increased their price objective on shares of Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Finally, Wells Fargo & Company increased their price objective on Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Nine analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $51.16.

Read Our Latest Research Report on TFC

Truist Financial Stock Down 1.0 %

Shares of TFC opened at $39.43 on Friday. The stock has a fifty day simple moving average of $45.45 and a two-hundred day simple moving average of $44.58. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $51.48 billion, a PE ratio of 11.84, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. Truist Financial Co. has a 52-week low of $34.51 and a 52-week high of $49.06.

Truist Financial (NYSE:TFC – Get Free Report) last announced 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. 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 the consensus estimate of $5.05 billion. During the same quarter last year, the firm earned $0.81 EPS. The business’s revenue was up 3.4% compared to the same quarter last year. As a group, equities analysts forecast that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.08 annualized dividend and a dividend yield of 5.27%. Truist Financial’s dividend payout ratio is presently 62.46%.

About Truist Financial

(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.

Featured Stories

Want to see what other hedge funds are holding TFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Truist Financial Co. (NYSE:TFC – Free Report).