North Dakota State Investment Board acquired a new position in shares of Truist Financial Corporation (NYSE:TFC – Free Report) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 44,242 shares of the insurance provider’s stock, valued at approximately $2,177,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Valley Wealth Managers Inc. bought a new position in Truist Financial during the 3rd quarter worth $28,000. Maseco LLP grew its stake 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 last quarter. Mowery & Schoenfeld Wealth Management LLC grew its stake 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 last quarter. Ancora Advisors LLC grew its stake in Truist Financial by 259.1% during the 3rd quarter. Ancora Advisors LLC now owns 693 shares of the insurance provider’s stock worth $32,000 after buying an additional 500 shares during the last quarter. Finally, Quest 10 Wealth Builders Inc. grew its stake in Truist Financial by 2,178.4% during the 4th quarter. Quest 10 Wealth Builders Inc. now owns 843 shares of the insurance provider’s stock worth $42,000 after buying an additional 806 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors.
Truist Financial Trading Up 0.2%
NYSE:TFC opened at $47.04 on Tuesday. Truist Financial Corporation has a 1 year low of $38.27 and a 1 year high of $56.19. The stock has a market cap of $58.60 billion, a price-to-earnings ratio of 11.67, a PEG ratio of 0.80 and a beta of 0.92. The business has a fifty day moving average of $47.75 and a 200-day moving average of $48.65. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.86 and a current ratio of 0.86.
Truist Financial Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 8th will be issued a $0.52 dividend. The ex-dividend date is Friday, May 8th. This represents a $2.08 annualized dividend and a dividend yield of 4.4%. Truist Financial’s dividend payout ratio is 51.61%.
Analyst Ratings Changes
A number of brokerages recently commented on TFC. Evercore restated an “outperform” rating on shares of Truist Financial in a research note on Thursday, February 5th. TD Cowen upped their price objective on Truist Financial from $59.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. JPMorgan Chase & Co. decreased their price target on Truist Financial from $57.00 to $51.50 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. Morgan Stanley decreased their price target on Truist Financial from $63.00 to $62.00 and set an “overweight” rating for the company in a research note on Monday, April 20th. Finally, Jefferies Financial Group reissued a “mixed” rating and issued a $45.00 price target on shares of Truist Financial in a research note on Friday, April 17th. Nine investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Truist Financial has a consensus rating of “Moderate Buy” and an average target price of $55.59.
Truist Financial 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.
Featured Stories
- Five stocks we like better than Truist Financial
- Why Applied Optoelectronics Stock May Be Near a Turning Point
- From High-Yield to High-Growth: 3 Stocks Boosting Dividends
- Is Everspin Technologies the Next AI Edge Breakout?
- 5 Robotics Stocks to Watch as Physical AI Builds Momentum
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 Corporation (NYSE:TFC – Free Report).
Receive News & Ratings for Truist Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Truist Financial and related companies with MarketBeat.com's FREE daily email newsletter.
