Inspire Trust Co. N.A. Grows Stock Holdings in Truist Financial Co. (NYSE:TFC)

Inspire Trust Co. N.A. raised its holdings in Truist Financial Co. (NYSE:TFC) by 9.3% in the 4th quarter, HoldingsChannel reports. The fund owned 82,000 shares of the insurance provider’s stock after acquiring an additional 7,000 shares during the period. Inspire Trust Co. N.A.’s holdings in Truist Financial were worth $3,557,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in TFC. Hopwood Financial Services Inc. acquired a new position in Truist Financial in the fourth quarter valued at $26,000. Navigoe LLC purchased a new stake in Truist Financial in the 4th quarter valued at about $26,000. Curio Wealth LLC acquired a new position in shares of Truist Financial during the 4th quarter valued at about $45,000. Brown Lisle Cummings Inc. acquired a new position in shares of Truist Financial during the 4th quarter valued at about $55,000. Finally, TCTC Holdings LLC lifted its holdings in shares of Truist Financial by 28.1% during the 4th quarter. TCTC Holdings LLC now owns 1,310 shares of the insurance provider’s stock worth $57,000 after acquiring an additional 287 shares during the period. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Argus set a $43.00 target price on shares of Truist Financial in a report on Monday, April 21st. Citigroup lowered their price objective on shares of Truist Financial from $51.00 to $44.00 and set a “neutral” rating for the company in a research note on Monday, March 24th. Raymond James downgraded Truist Financial from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 2nd. 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. Finally, Baird R W upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Nine research 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.com, the company has an average rating of “Moderate Buy” and a consensus target price of $47.83.

Truist Financial Price Performance

Shares of TFC stock opened at $39.16 on Thursday. The firm has a fifty day simple moving average of $38.85 and a 200-day simple moving average of $43.18. The company has a market capitalization of $51.28 billion, a PE ratio of 11.76, a price-to-earnings-growth ratio of 1.63 and a beta of 0.83. Truist Financial Co. has a twelve month low of $33.56 and a twelve month high of $49.06. 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 (NYSE:TFC) last announced its earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share 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 the consensus estimate of $4.99 billion. During the same period last year, the firm earned $0.90 earnings per share. Equities research analysts anticipate that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Friday, May 9th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $2.08 annualized dividend and a yield of 5.31%. Truist Financial’s dividend payout ratio is presently 61.36%.

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.