Curio Wealth LLC Makes New $45,000 Investment in Truist Financial Co. (NYSE:TFC)

Curio Wealth LLC purchased a new position 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 purchased 1,037 shares of the insurance provider’s stock, valued at approximately $45,000.

Other institutional investors also recently bought and sold shares of the company. Bangor Savings Bank lifted its holdings in Truist Financial by 92.5% during the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock worth $25,000 after buying an additional 272 shares during the last quarter. Hopwood Financial Services Inc. acquired a new stake in shares of Truist Financial during the fourth quarter worth about $26,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Truist Financial during the third quarter worth about $32,000. True Wealth Design LLC acquired a new stake in shares of Truist Financial during the third quarter worth about $51,000. Finally, City State Bank increased its position in shares of Truist Financial by 158.1% during the fourth quarter. City State Bank now owns 1,169 shares of the insurance provider’s stock worth $51,000 after purchasing an additional 716 shares in the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

Truist Financial Stock Up 1.3 %

Shares of NYSE TFC opened at $41.08 on Tuesday. Truist Financial Co. has a 12-month low of $34.51 and a 12-month high of $49.06. The company has a market cap of $53.62 billion, a P/E ratio of 12.34, a P/E/G ratio of 1.63 and a beta of 1.08. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The stock has a fifty day moving average price of $45.32 and a 200 day moving average price of $44.54.

Truist Financial (NYSE:TFC) last announced 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. The firm had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.81 EPS. Research analysts anticipate that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a $0.52 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a yield of 5.06%. Truist Financial’s payout ratio is currently 62.46%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on TFC. The Goldman Sachs Group lifted their target price on Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. HSBC upgraded Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Tuesday, January 7th. Piper Sandler boosted their price target on Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Baird R W upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Finally, Stephens boosted their target price on Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Nine analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $51.16.

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.