Tweedy Browne Co LLC Has $27.66 Million Stock Position in Truist Financial Corporation $TFC

Tweedy Browne Co LLC reduced its stake in shares of Truist Financial Corporation (NYSE:TFC) by 2.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 562,160 shares of the insurance provider’s stock after selling 13,575 shares during the period. Truist Financial makes up approximately 2.2% of Tweedy Browne Co LLC’s holdings, making the stock its 11th biggest holding. Tweedy Browne Co LLC’s holdings in Truist Financial were worth $27,664,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of TFC. Valley Wealth Managers Inc. acquired a new stake in Truist Financial during the 3rd quarter worth approximately $28,000. Maseco LLP raised its holdings in Truist Financial by 53.8% during the 4th quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock worth $32,000 after buying an additional 228 shares during the period. Mowery & Schoenfeld Wealth Management LLC raised its holdings in Truist Financial by 190.7% during the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 657 shares of the insurance provider’s stock worth $32,000 after buying an additional 431 shares during the period. Ancora Advisors LLC raised its stake in shares of Truist Financial by 259.1% in the 3rd quarter. Ancora Advisors LLC now owns 693 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 500 shares during the period. Finally, Steigerwald Gordon & Koch Inc. acquired a new stake in shares of Truist Financial in the 3rd quarter valued at about $41,000. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Price Performance

NYSE TFC opened at $49.48 on Tuesday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70. Truist Financial Corporation has a 12-month low of $38.27 and a 12-month high of $56.19. The company has a market capitalization of $61.40 billion, a PE ratio of 12.28, a price-to-earnings-growth ratio of 0.87 and a beta of 0.92. The firm’s 50 day moving average is $48.10 and its 200-day moving average is $48.31.

Truist Financial (NYSE:TFC) last released its earnings results on Friday, April 17th. The insurance provider reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09. The business had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.18 billion. Truist Financial had a return on equity of 9.55% and a net margin of 18.14%.Truist Financial’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.87 earnings per share. Equities research analysts anticipate that Truist Financial Corporation will post 4.52 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 8th will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, May 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.2%. Truist Financial’s payout ratio is currently 51.61%.

Wall Street Analyst Weigh In

Several analysts have issued reports on TFC shares. The Goldman Sachs Group reissued a “buy” rating and issued a $58.00 price target on shares of Truist Financial in a research note on Tuesday, January 6th. Weiss Ratings raised Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday. JPMorgan Chase & Co. dropped their price target on Truist Financial from $57.00 to $51.50 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. Evercore reissued an “outperform” rating on shares of Truist Financial in a research note on Thursday, February 5th. Finally, Robert W. Baird downgraded shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 price objective on the stock. in a report on Friday. Nine equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.59.

Truist Financial Company Profile

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.