Heritage Wealth Advisors Has $1.75 Million Stake in Truist Financial Co. (NYSE:TFC)

Heritage Wealth Advisors cut its position in shares of Truist Financial Co. (NYSE:TFC) by 1.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,259 shares of the insurance provider’s stock after selling 642 shares during the quarter. Heritage Wealth Advisors’ holdings in Truist Financial were worth $1,746,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Bangor Savings Bank boosted its position in shares of Truist Financial by 92.5% during the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 272 shares in the last quarter. Hopwood Financial Services Inc. bought a new position in shares of Truist Financial during the 4th quarter worth approximately $26,000. Curio Wealth LLC acquired a new stake in shares of Truist Financial during the 4th quarter worth approximately $45,000. City State Bank increased its stake in shares of Truist Financial by 158.1% in the 4th quarter. City State Bank now owns 1,169 shares of the insurance provider’s stock valued at $51,000 after acquiring an additional 716 shares in the last quarter. Finally, True Wealth Design LLC acquired a new position in shares of Truist Financial during the 3rd quarter valued at $51,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

TFC has been the topic of several research reports. Raymond James upped their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Stephens boosted their price objective on Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. HSBC upgraded Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Tuesday, January 7th. Baird R W raised shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Finally, Citigroup decreased their target price on shares of Truist Financial from $51.00 to $44.00 and set a “neutral” rating for the company in a research report on Monday. Nine equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Truist Financial currently has a consensus rating of “Moderate Buy” and an average target price of $50.79.

Truist Financial Trading Down 0.5 %

Shares of Truist Financial stock opened at $41.96 on Wednesday. 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 stock has a market capitalization of $54.77 billion, a P/E ratio of 12.60, a P/E/G ratio of 1.63 and a beta of 1.08. Truist Financial Co. has a 52-week low of $35.09 and a 52-week high of $49.06. The stock’s 50-day simple moving average is $45.06 and its 200 day simple moving average is $44.45.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The company had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5.05 billion. During the same period in the prior year, the company posted $0.81 EPS. Truist Financial’s revenue was up 3.4% compared to the same quarter last year. As a group, research analysts anticipate that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The business also recently disclosed 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. The ex-dividend date was Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a yield of 4.96%. Truist Financial’s dividend payout ratio (DPR) is 62.46%.

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.