Fourthstone LLC Buys Shares of 12,000 Truist Financial Co. (NYSE:TFC)

Fourthstone LLC purchased a new position in shares of Truist Financial Co. (NYSE:TFC) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 12,000 shares of the insurance provider’s stock, valued at approximately $521,000.

A number of other hedge funds also recently made changes to their positions in the stock. Marshall Wace LLP increased its holdings in Truist Financial by 92.8% in the 4th quarter. Marshall Wace LLP now owns 3,639,216 shares of the insurance provider’s stock worth $157,869,000 after purchasing an additional 1,752,001 shares in the last quarter. NewEdge Advisors LLC increased its stake in shares of Truist Financial by 1.5% in the fourth quarter. NewEdge Advisors LLC now owns 160,088 shares of the insurance provider’s stock valued at $6,945,000 after buying an additional 2,443 shares during the period. Jump Financial LLC raised its holdings in Truist Financial by 1,141.4% in the 4th quarter. Jump Financial LLC now owns 76,083 shares of the insurance provider’s stock valued at $3,300,000 after buying an additional 69,954 shares during the last quarter. Guggenheim Capital LLC boosted its position in Truist Financial by 7.3% during the 4th quarter. Guggenheim Capital LLC now owns 359,510 shares of the insurance provider’s stock worth $15,596,000 after buying an additional 24,548 shares during the period. Finally, Canada Post Corp Registered Pension Plan bought a new stake in Truist Financial during the 4th quarter worth approximately $7,937,000. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on TFC shares. StockNews.com lowered shares of Truist Financial from a “hold” rating to a “sell” rating in a report on Saturday, April 12th. Raymond James downgraded Truist Financial from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 2nd. Baird R W raised Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Keefe, Bruyette & Woods upped their target price on Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Tuesday, January 21st. Finally, JPMorgan Chase & Co. lowered their price target on shares of Truist Financial from $48.00 to $42.00 and set a “neutral” rating for the company in a report on Thursday, April 3rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $50.22.

Truist Financial Stock Down 1.3 %

Shares of NYSE:TFC opened at $36.01 on Thursday. The firm has a market cap of $47.01 billion, a P/E ratio of 10.81, a PEG ratio of 1.63 and a beta of 0.91. Truist Financial Co. has a 52-week low of $33.56 and a 52-week high of $49.06. The business’s 50 day simple moving average is $41.66 and its two-hundred day simple moving average is $43.86. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83.

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, beating the consensus estimate 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 posted $0.81 EPS. Truist Financial’s revenue was up 3.4% compared to the same quarter last year. As a group, research analysts forecast that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The firm 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. The ex-dividend date was Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.78%. Truist Financial’s dividend payout ratio is presently 62.46%.

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.