Headlands Technologies LLC Buys 8,748 Shares of Truist Financial Co. (NYSE:TFC)

Headlands Technologies LLC grew its position in Truist Financial Co. (NYSE:TFC) by 163.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 14,099 shares of the insurance provider’s stock after acquiring an additional 8,748 shares during the period. Headlands Technologies LLC’s holdings in Truist Financial were worth $612,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of TFC. State Street Corp boosted its stake in shares of Truist Financial by 4.6% during the third quarter. State Street Corp now owns 61,864,957 shares of the insurance provider’s stock valued at $2,645,964,000 after purchasing an additional 2,720,223 shares in the last quarter. Geode Capital Management LLC boosted its position in Truist Financial by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 27,975,691 shares of the insurance provider’s stock worth $1,210,348,000 after buying an additional 534,740 shares during the period. Amundi grew its holdings in Truist Financial by 6.5% during the 4th quarter. Amundi now owns 23,683,345 shares of the insurance provider’s stock worth $1,040,718,000 after acquiring an additional 1,450,323 shares during the last quarter. American Century Companies Inc. increased its position in Truist Financial by 7.9% in the 4th quarter. American Century Companies Inc. now owns 9,882,885 shares of the insurance provider’s stock valued at $428,720,000 after acquiring an additional 722,749 shares during the period. Finally, Norges Bank bought a new position in shares of Truist Financial during the fourth quarter valued at $402,828,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Trading Up 1.4 %

NYSE:TFC opened at $41.60 on Thursday. Truist Financial Co. has a 52 week low of $35.09 and a 52 week high of $49.06. The firm has a 50-day moving average price of $44.41 and a two-hundred day moving average price of $44.41. The firm has a market cap of $54.30 billion, a price-to-earnings ratio of 12.49, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. The business 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%. Truist Financial’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period last year, the company posted $0.81 earnings per share. On average, equities analysts expect that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The business 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. This represents a $2.08 annualized dividend and a yield of 5.00%. The ex-dividend date was Friday, February 14th. Truist Financial’s dividend payout ratio is 62.46%.

Analysts Set New Price Targets

A number of analysts recently weighed in on TFC shares. Hsbc Global Res upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Stephens raised their price objective on Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Morgan Stanley upped their target price on Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. Citigroup lowered their price target on shares of Truist Financial from $51.00 to $44.00 and set a “neutral” rating for the company in a report on Monday, March 24th. Finally, StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. Ten analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $50.68.

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.