Cetera Investment Advisers Increases Holdings in Truist Financial Co. (NYSE:TFC)

Cetera Investment Advisers raised its stake in Truist Financial Co. (NYSE:TFC) by 4.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 474,619 shares of the insurance provider’s stock after buying an additional 21,068 shares during the quarter. Cetera Investment Advisers’ holdings in Truist Financial were worth $20,589,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of TFC. Hopwood Financial Services Inc. purchased a new position in shares of Truist Financial during the 4th quarter worth $26,000. Navigoe LLC acquired a new position in Truist Financial in the fourth quarter valued at about $26,000. Curio Wealth LLC purchased a new position in Truist Financial during the fourth quarter worth about $45,000. 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 valued at $51,000 after acquiring an additional 716 shares during the last quarter. Finally, Brown Lisle Cummings Inc. purchased a new stake in shares of Truist Financial in the 4th quarter valued at approximately $55,000. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Stock Performance

Shares of TFC opened at $39.56 on Friday. The company has a market capitalization of $51.80 billion, a price-to-earnings ratio of 11.88, a price-to-earnings-growth ratio of 1.63 and a beta of 0.83. Truist Financial Co. has a 52-week low of $33.56 and a 52-week high of $49.06. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. The stock has a 50 day moving average price of $38.95 and a 200 day moving average price of $43.33.

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

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Friday, May 9th will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.26%. Truist Financial’s dividend payout ratio (DPR) is presently 61.36%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on TFC shares. Argus set a $43.00 target price on shares of Truist Financial in a report on Monday, April 21st. JPMorgan Chase & Co. cut their price objective on Truist Financial from $48.00 to $42.00 and set a “neutral” rating on the stock in a report on Thursday, April 3rd. Robert W. Baird upgraded Truist Financial from a “neutral” rating to an “outperform” rating and raised their target price for the company from $48.00 to $52.00 in a report on Wednesday, March 5th. Raymond James downgraded Truist Financial from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 2nd. Finally, Morgan Stanley reduced their price target on shares of Truist Financial from $50.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Monday, April 7th. Nine investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Truist Financial has an average rating of “Moderate Buy” and a consensus price target of $47.83.

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.