Price T Rowe Associates Inc. MD Has $118.05 Million Position in Truist Financial Co. (NYSE:TFC)

Price T Rowe Associates Inc. MD decreased its stake in Truist Financial Co. (NYSE:TFC) by 0.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,721,370 shares of the insurance provider’s stock after selling 5,935 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Truist Financial were worth $118,054,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in TFC. World Investment Advisors LLC increased its position in Truist Financial by 19.4% during the 3rd quarter. World Investment Advisors LLC now owns 14,486 shares of the insurance provider’s stock valued at $620,000 after purchasing an additional 2,355 shares during the period. Arvest Bank Trust Division acquired a new stake in shares of Truist Financial during the third quarter worth $1,960,000. Wilmington Savings Fund Society FSB increased its position in shares of Truist Financial by 28.3% during the third quarter. Wilmington Savings Fund Society FSB now owns 323,849 shares of the insurance provider’s stock worth $13,851,000 after buying an additional 71,393 shares during the period. Tidal Investments LLC lifted its holdings in Truist Financial by 6.9% in the third quarter. Tidal Investments LLC now owns 62,803 shares of the insurance provider’s stock valued at $2,686,000 after buying an additional 4,029 shares during the period. Finally, Synovus Financial Corp boosted its position in Truist Financial by 27.1% during the third quarter. Synovus Financial Corp now owns 556,243 shares of the insurance provider’s stock valued at $23,791,000 after acquiring an additional 118,692 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Trading Down 0.6 %

NYSE TFC opened at $37.68 on Monday. 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 firm has a market capitalization of $49.19 billion, a P/E ratio of 11.32, a PEG ratio of 1.63 and a beta of 0.91. The business has a fifty day simple moving average of $40.22 and a 200 day simple moving average of $43.62. Truist Financial Co. has a 12 month low of $33.56 and a 12 month high of $49.06.

Truist Financial (NYSE:TFC) last released its earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.87. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The company had revenue of $4.95 billion during the quarter, compared to analyst estimates of $4.99 billion. During the same period in the prior year, the company posted $0.90 earnings per share. On average, analysts predict that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business 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. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.52%. The ex-dividend date was Friday, February 14th. Truist Financial’s dividend payout ratio (DPR) is currently 61.36%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on TFC shares. Keefe, Bruyette & Woods lowered their price objective on Truist Financial from $53.00 to $47.00 and set an “outperform” rating for the company in a research report on Monday, April 21st. Citigroup dropped their price target on Truist Financial from $51.00 to $44.00 and set a “neutral” rating on the stock in a research note on Monday, March 24th. Wells Fargo & Company reduced their price objective on shares of Truist Financial from $52.00 to $50.00 and set an “overweight” rating for the company in a research report on Friday, March 28th. StockNews.com downgraded shares of Truist Financial from a “hold” rating to a “sell” rating in a research report on Monday. Finally, Hsbc Global Res upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.83.

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.