GWN Securities Inc. Buys New Stake in Truist Financial Co. (NYSE:TFC)

GWN Securities Inc. acquired a new position in shares of Truist Financial Co. (NYSE:TFC) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,314 shares of the insurance provider’s stock, valued at approximately $202,000.

A number of other large investors also recently added to or reduced their stakes in TFC. Raymond James Financial Inc. acquired a new position in Truist Financial during the fourth quarter worth $198,051,000. State Street Corp raised its position in Truist Financial by 4.6% during the third quarter. State Street Corp now owns 61,864,957 shares of the insurance provider’s stock worth $2,645,964,000 after acquiring an additional 2,720,223 shares during the period. Amundi raised its position in Truist Financial by 6.5% during the fourth quarter. Amundi now owns 23,683,345 shares of the insurance provider’s stock worth $1,040,718,000 after acquiring an additional 1,450,323 shares during the period. KBC Group NV raised its position in Truist Financial by 96.9% during the fourth quarter. KBC Group NV now owns 2,031,893 shares of the insurance provider’s stock worth $88,144,000 after acquiring an additional 999,763 shares during the period. Finally, HighTower Advisors LLC raised its position in Truist Financial by 26.1% during the third quarter. HighTower Advisors LLC now owns 3,901,891 shares of the insurance provider’s stock worth $166,892,000 after acquiring an additional 807,648 shares during the period. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Trading Down 0.5 %

Shares of TFC stock opened at $40.84 on Wednesday. The company has a 50-day moving average of $45.26 and a two-hundred day moving average of $44.52. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. Truist Financial Co. has a 1-year low of $35.06 and a 1-year high of $49.06. The firm has a market cap of $53.32 billion, a PE ratio of 12.27, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.88 by $0.03. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The business had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.05 billion. During the same quarter last year, the firm posted $0.81 earnings per share. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, analysts predict that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 5.09%. The ex-dividend date was Friday, February 14th. Truist Financial’s payout ratio is 62.46%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on TFC shares. Baird R W upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Raymond James increased their target price on shares of Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. HSBC upgraded shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research report on Tuesday, January 7th. Hsbc Global Res upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Finally, Compass Point increased their target price on shares of Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Nine equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Truist Financial has a consensus rating of “Moderate Buy” and a consensus target price of $51.16.

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.