Fort Washington Investment Advisors Inc. OH Purchases 43,822 Shares of Truist Financial Co. (NYSE:TFC)

Fort Washington Investment Advisors Inc. OH grew its position in Truist Financial Co. (NYSE:TFC) by 4.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,122,705 shares of the insurance provider’s stock after acquiring an additional 43,822 shares during the quarter. Fort Washington Investment Advisors Inc. OH owned 0.09% of Truist Financial worth $46,199,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Hopwood Financial Services Inc. purchased a new stake in Truist Financial during the fourth quarter valued at $26,000. Navigoe LLC bought a new stake in shares of Truist Financial in the 4th quarter worth about $26,000. Curio Wealth LLC purchased a new stake in shares of Truist Financial during the 4th quarter valued at about $45,000. TCTC Holdings LLC lifted its holdings in shares of Truist Financial by 28.1% in the 4th quarter. TCTC Holdings LLC now owns 1,310 shares of the insurance provider’s stock valued at $57,000 after acquiring an additional 287 shares during the last quarter. Finally, Pinney & Scofield Inc. bought a new position in shares of Truist Financial in the 4th quarter valued at about $57,000. 71.28% of the stock is owned by hedge funds and other institutional investors.

Truist Financial Stock Down 1.1%

Shares of NYSE TFC opened at $40.29 on Thursday. Truist Financial Co. has a 12-month low of $33.56 and a 12-month high of $49.06. The stock’s fifty day simple moving average is $38.59 and its two-hundred day simple moving average is $42.53. The stock has a market capitalization of $52.75 billion, a PE ratio of 12.10, a price-to-earnings-growth ratio of 1.63 and a beta of 0.84. 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 issued its quarterly earnings data on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, meeting analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter last year, the company earned $0.90 earnings per share. As a group, analysts expect that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 9th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.16%. The ex-dividend date of this dividend was Friday, May 9th. Truist Financial’s payout ratio is currently 61.36%.

Wall Street Analyst Weigh In

TFC has been the topic of a number of recent research reports. Baird R W upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Citigroup reduced their target price on shares of Truist Financial from $51.00 to $44.00 and set a “neutral” rating on the stock in a research note on Monday, March 24th. TD Cowen started coverage on shares of Truist Financial in a report on Thursday, May 15th. They issued a “hold” rating and a $44.00 target price for the company. Wells Fargo & Company reduced their price objective on shares of Truist Financial from $52.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, March 28th. Finally, Robert W. Baird upgraded Truist Financial from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $48.00 to $52.00 in a research report on Wednesday, March 5th. Nine investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.83.

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.