Geode Capital Management LLC Has $1.21 Billion Stock Holdings in Truist Financial Co. (NYSE:TFC)

Geode Capital Management LLC raised its stake in Truist Financial Co. (NYSE:TFC) by 1.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,975,691 shares of the insurance provider’s stock after acquiring an additional 534,740 shares during the quarter. Geode Capital Management LLC owned about 2.11% of Truist Financial worth $1,210,348,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Bangor Savings Bank increased its holdings in shares of Truist Financial by 92.5% in the fourth 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. Hopwood Financial Services Inc. bought a new position in Truist Financial in the 4th quarter valued at $26,000. Curio Wealth LLC acquired a new stake in shares of Truist Financial in the 4th quarter valued at $45,000. City State Bank raised 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 acquiring an additional 716 shares during the last quarter. Finally, Brown Lisle Cummings Inc. acquired a new position in shares of Truist Financial during the fourth quarter valued at $55,000. 71.28% of the stock is owned by institutional investors.

Truist Financial Stock Performance

Shares of TFC opened at $41.00 on Wednesday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. Truist Financial Co. has a 12 month low of $35.09 and a 12 month high of $49.06. The firm has a fifty day simple moving average of $44.51 and a 200 day simple moving average of $44.43. The stock has a market capitalization of $53.51 billion, a price-to-earnings ratio of 12.31, a PEG ratio of 1.63 and a beta of 1.08.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.03. The firm had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The business’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.81 EPS. Research analysts forecast that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a $0.52 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.08 annualized dividend and a yield of 5.07%. Truist Financial’s dividend payout ratio is 62.46%.

Wall Street Analysts Forecast Growth

TFC has been the topic of several recent research reports. Barclays raised their target price on shares of Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Hsbc Global Res upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Stephens upped their target price on shares of Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Wells Fargo & Company cut their target price on shares of Truist Financial from $52.00 to $50.00 and set an “overweight” rating on the stock in a report on Friday, March 28th. Finally, Robert W. Baird raised shares of Truist Financial from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $48.00 to $52.00 in a report on Wednesday, March 5th. 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 company’s stock. According to MarketBeat, Truist Financial currently has an average rating of “Moderate Buy” and an average target price of $50.68.

Truist Financial 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.