SLT Holdings LLC Buys Shares of 11,114 Truist Financial Co. (NYSE:TFC)

SLT Holdings LLC bought a new stake in shares of Truist Financial Co. (NYSE:TFC) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 11,114 shares of the insurance provider’s stock, valued at approximately $482,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bangor Savings Bank increased its holdings 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 acquiring an additional 272 shares during the period. Valley Wealth Managers Inc. purchased a new position in shares of Truist Financial in the 3rd quarter valued at $26,000. MidAtlantic Capital Management Inc. purchased a new position in shares of Truist Financial in the 3rd quarter valued at $32,000. Ashton Thomas Securities LLC purchased a new position in shares of Truist Financial in the 3rd quarter valued at $45,000. Finally, True Wealth Design LLC purchased a new position in shares of Truist Financial in the 3rd quarter valued at $51,000. 71.28% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TFC. Hsbc Global Res upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Compass Point lifted their price target on Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Baird R W upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. Raymond James boosted their target price on Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Finally, Barclays boosted their target price on Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. Nine 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $51.16.

Truist Financial Stock Performance

Shares of TFC stock opened at $42.25 on Friday. The stock has a market cap of $55.15 billion, a PE ratio of 12.69, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. The business has a 50-day simple moving average of $45.73 and a 200-day simple moving average of $44.67. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. Truist Financial Co. has a 52-week low of $34.51 and a 52-week high of $49.06.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data 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. The business had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.81 EPS. On average, equities analysts expect 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. 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 yield of 4.92%. Truist Financial’s payout ratio is 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.