Heritage Trust Co Acquires 14,330 Shares of Truist Financial Corporation $TFC

Heritage Trust Co increased its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 26.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 68,192 shares of the insurance provider’s stock after acquiring an additional 14,330 shares during the period. Heritage Trust Co’s holdings in Truist Financial were worth $3,356,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cullen Capital Management LLC increased its holdings in Truist Financial by 10.3% during the 3rd quarter. Cullen Capital Management LLC now owns 4,591,783 shares of the insurance provider’s stock worth $209,936,000 after purchasing an additional 427,067 shares during the period. Oppenheimer & Co. Inc. increased its holdings in Truist Financial by 18.6% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 169,030 shares of the insurance provider’s stock worth $7,728,000 after purchasing an additional 26,530 shares during the period. Oppenheimer Asset Management Inc. increased its holdings in Truist Financial by 2.6% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 421,809 shares of the insurance provider’s stock worth $19,285,000 after purchasing an additional 10,706 shares during the period. Versor Investments LP increased its holdings in Truist Financial by 64.4% during the 3rd quarter. Versor Investments LP now owns 25,008 shares of the insurance provider’s stock worth $1,143,000 after purchasing an additional 9,800 shares during the period. Finally, Jones Financial Companies Lllp increased its holdings in Truist Financial by 13.9% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,652,406 shares of the insurance provider’s stock worth $76,039,000 after purchasing an additional 201,807 shares during the period. 71.28% of the stock is owned by institutional investors.

Truist Financial Trading Down 2.7%

Shares of NYSE:TFC opened at $46.90 on Tuesday. Truist Financial Corporation has a 12-month low of $38.67 and a 12-month high of $56.19. The business’s fifty day simple moving average is $48.34 and its 200-day simple moving average is $48.90. The company has a market capitalization of $58.43 billion, a PE ratio of 11.64, a P/E/G ratio of 0.82 and a beta of 0.89. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Friday, April 17th. The insurance provider reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09. The business had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.18 billion. Truist Financial had a return on equity of 9.55% and a net margin of 18.14%.The business’s revenue was up 5.0% compared to the same quarter last year. During the same period last year, the business posted $0.87 EPS. As a group, equities research analysts predict that Truist Financial Corporation will post 4.52 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 8th were given a $0.52 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.4%. Truist Financial’s dividend payout ratio (DPR) is presently 51.61%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Evercore restated an “outperform” rating on shares of Truist Financial in a report on Thursday, February 5th. Jefferies Financial Group restated a “mixed” rating and set a $45.00 price objective on shares of Truist Financial in a report on Friday, April 17th. Royal Bank Of Canada raised their price objective on Truist Financial from $51.00 to $53.00 and gave the stock an “outperform” rating in a report on Monday, April 20th. Morgan Stanley cut their price target on Truist Financial from $63.00 to $62.00 and set an “overweight” rating on the stock in a report on Monday, April 20th. Finally, Weiss Ratings upgraded Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. Nine equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $55.59.

Truist Financial Profile

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.