NBT Bank N A NY Increases Stock Position in Truist Financial Corporation (NYSE:TFC)

NBT Bank N A NY boosted its stake in Truist Financial Corporation (NYSE:TFC) by 9.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,691 shares of the insurance provider’s stock after acquiring an additional 1,176 shares during the period. NBT Bank N A NY’s holdings in Truist Financial were worth $563,000 as of its most recent SEC filing.

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

Truist Financial Stock Performance

Shares of NYSE TFC opened at $39.78 on Thursday. The company has a market cap of $52.10 billion, a PE ratio of 11.74, a price-to-earnings-growth ratio of 1.45 and a beta of 0.84. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.83 and a quick ratio of 0.83. Truist Financial Corporation has a 12 month low of $33.56 and a 12 month high of $49.06. The company has a 50-day simple moving average of $38.91 and a 200-day simple moving average of $42.24.

Truist Financial (NYSE:TFC) last released its earnings results on Thursday, April 17th. The insurance provider reported $0.87 EPS for the quarter, hitting the consensus estimate of $0.87. The firm had revenue of $4.95 billion during the quarter, compared to analysts’ expectations of $4.99 billion. Truist Financial had a net margin of 15.59% and a return on equity of 8.96%. During the same period in the previous year, the company earned $0.90 EPS. On average, equities analysts anticipate that Truist Financial Corporation will post 4 earnings per share for the current year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 9th were paid a dividend of $0.52 per share. The ex-dividend date was Friday, May 9th. This represents a $2.08 annualized dividend and a yield of 5.23%. Truist Financial’s dividend payout ratio is currently 61.36%.

Analyst Upgrades and Downgrades

TFC has been the subject of a number of analyst reports. 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. Piper Sandler cut their price target on shares of Truist Financial from $45.00 to $41.00 and set a “neutral” rating for the company in a report on Monday, April 21st. Keefe, Bruyette & Woods cut their price target on shares of Truist Financial from $53.00 to $47.00 and set an “outperform” rating for the company in a report on Monday, April 21st. Wall Street Zen raised shares of Truist Financial from a “sell” rating to a “hold” rating in a report on Wednesday, May 7th. Finally, Wells Fargo & Company dropped their price objective on Truist Financial from $52.00 to $50.00 and set an “overweight” rating for the company in a research note on Friday, March 28th. Nine equities 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, Truist Financial has an average rating of “Moderate Buy” and an average target price of $47.83.

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.