Greatmark Investment Partners Inc. Buys 1,324 Shares of Truist Financial Co. (NYSE:TFC)

Greatmark Investment Partners Inc. grew its holdings in Truist Financial Co. (NYSE:TFC) by 23.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,002 shares of the insurance provider’s stock after purchasing an additional 1,324 shares during the period. Greatmark Investment Partners Inc.’s holdings in Truist Financial were worth $304,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bangor Savings Bank increased its stake in Truist Financial by 92.5% in the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 272 shares during the period. Valley Wealth Managers Inc. purchased a new stake in Truist Financial in the third quarter worth $26,000. Hopwood Financial Services Inc. purchased a new stake in Truist Financial in the fourth quarter worth $26,000. MidAtlantic Capital Management Inc. purchased a new stake in Truist Financial in the third quarter worth $32,000. Finally, True Wealth Design LLC purchased a new stake in Truist Financial in the third quarter worth $51,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Price Performance

Shares of NYSE TFC opened at $40.54 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market cap of $52.92 billion, a PE ratio of 12.17, a P/E/G ratio of 1.63 and a beta of 1.08. The business has a 50-day simple moving average of $45.38 and a two-hundred day simple moving average of $44.55. Truist Financial Co. has a fifty-two week low of $34.51 and a fifty-two week high of $49.06.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.03. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The business had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.05 billion. During the same quarter last year, the company earned $0.81 earnings per share. The company’s quarterly revenue was up 3.4% on a year-over-year basis. As a group, equities analysts expect 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 was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.13%. The ex-dividend date was Friday, February 14th. Truist Financial’s dividend payout ratio (DPR) is 62.46%.

Analyst Upgrades and Downgrades

TFC has been the topic of several research reports. Stephens raised their price target on Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Keefe, Bruyette & Woods raised their price target on Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a research note on Tuesday, January 21st. Piper Sandler raised their price target on Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Compass Point raised their price target on Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Finally, Baird R W upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Nine investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Truist Financial presently has an average rating of “Moderate Buy” and a consensus target price of $51.16.

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.