Schaper Benz & Wise Investment Counsel Inc. WI Cuts Holdings in Truist Financial Co. (NYSE:TFC)

Schaper Benz & Wise Investment Counsel Inc. WI lessened its stake in Truist Financial Co. (NYSE:TFC) by 0.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 262,723 shares of the insurance provider’s stock after selling 628 shares during the period. Schaper Benz & Wise Investment Counsel Inc. WI’s holdings in Truist Financial were worth $11,397,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of TFC. Bangor Savings Bank boosted its stake in shares of Truist Financial by 92.5% in the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 272 shares in the last quarter. Valley Wealth Managers Inc. purchased a new stake in shares of Truist Financial in the 3rd quarter valued at $26,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Truist Financial in the 3rd quarter valued at $32,000. Ashton Thomas Securities LLC purchased a new stake in shares of Truist Financial in the 3rd quarter valued at $45,000. Finally, True Wealth Design LLC purchased a new stake in shares of Truist Financial in the 3rd quarter valued at $51,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TFC. Citigroup upped their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the company a “neutral” rating in a research note on Monday, November 25th. Wells Fargo & Company increased their price target on shares of Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Hsbc Global Res raised shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Raymond James increased their price target on shares of Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Finally, Compass Point increased their price target on shares of Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Nine equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $51.16.

Truist Financial Stock Up 0.0 %

Shares of Truist Financial stock opened at $42.25 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. The company has a 50-day moving average of $45.73 and a 200 day moving average of $44.67. The firm has a market cap of $55.15 billion, a price-to-earnings ratio of 12.69, a PEG ratio of 1.63 and a beta of 1.08. Truist Financial Co. has a 1 year low of $34.51 and a 1 year high of $49.06.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping 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 company had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.05 billion. During the same period last year, the business earned $0.81 EPS. Truist Financial’s quarterly revenue was up 3.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.92%. The ex-dividend date of this dividend was Friday, February 14th. Truist Financial’s dividend payout ratio (DPR) is 62.46%.

About Truist Financial

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.