Truist Financial Co. (NYSE:TFC) Stock Holdings Lifted by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. lifted its position in Truist Financial Co. (NYSE:TFC) by 0.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 107,525 shares of the insurance provider’s stock after acquiring an additional 343 shares during the period. First Citizens Bank & Trust Co.’s holdings in Truist Financial were worth $4,425,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. LaFleur & Godfrey LLC grew its position in Truist Financial by 4.5% during the fourth quarter. LaFleur & Godfrey LLC now owns 108,168 shares of the insurance provider’s stock valued at $4,692,000 after purchasing an additional 4,670 shares in the last quarter. Brighton Jones LLC grew its position in Truist Financial by 148.5% during the fourth quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider’s stock valued at $1,023,000 after purchasing an additional 14,093 shares in the last quarter. Strategic Financial Concepts LLC purchased a new position in Truist Financial during the fourth quarter valued at approximately $661,000. Golden State Wealth Management LLC purchased a new position in Truist Financial during the fourth quarter valued at approximately $94,000. Finally, Apollon Wealth Management LLC grew its position in Truist Financial by 10.9% during the fourth quarter. Apollon Wealth Management LLC now owns 54,502 shares of the insurance provider’s stock valued at $2,364,000 after purchasing an additional 5,345 shares in the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on TFC. Wall Street Zen upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, May 7th. JPMorgan Chase & Co. reduced their target price on shares of Truist Financial from $48.00 to $42.00 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. Stephens reduced their target price on shares of Truist Financial from $48.00 to $46.00 and set an “overweight” rating for the company in a research note on Monday, April 21st. Keefe, Bruyette & Woods reduced their price objective on shares of Truist Financial from $53.00 to $47.00 and set an “outperform” rating for the company in a research note on Monday, April 21st. Finally, Argus set a $43.00 price objective on shares of Truist Financial in a research note on Monday, April 21st. Nine equities research 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 company’s stock. According to data from MarketBeat, Truist Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.83.

Truist Financial Price Performance

NYSE:TFC opened at $40.44 on Tuesday. The stock has a market cap of $52.96 billion, a P/E ratio of 12.14, a PEG ratio of 1.63 and a beta of 0.84. Truist Financial Co. has a one year low of $33.56 and a one year high of $49.06. The company has a fifty day moving average price of $38.40 and a 200 day moving average price of $42.56. 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 (NYSE:TFC) last released its earnings results on Thursday, April 17th. The insurance provider reported $0.87 EPS for the quarter, meeting 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 9.32%. During the same period in the prior year, the company earned $0.90 EPS. Analysts anticipate that Truist Financial Co. 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. Stockholders of record on Friday, May 9th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.14%. The ex-dividend date was Friday, May 9th. Truist Financial’s dividend payout ratio is 61.36%.

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.