X Square Capital LLC Has $519,000 Holdings in Truist Financial Co. (NYSE:TFC)

X Square Capital LLC reduced its holdings in shares of Truist Financial Co. (NYSE:TFC) by 7.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,970 shares of the insurance provider’s stock after selling 931 shares during the quarter. X Square Capital LLC’s holdings in Truist Financial were worth $519,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TFC. Bangor Savings Bank grew its stake in shares of Truist Financial by 92.5% in the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock valued at $25,000 after buying an additional 272 shares in the last quarter. Hopwood Financial Services Inc. bought a new position in Truist Financial during the fourth quarter worth about $26,000. Curio Wealth LLC bought a new position in Truist Financial during the 4th quarter worth $45,000. City State Bank raised its holdings in 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 bought a new stake in shares of Truist Financial during the 3rd quarter valued at $51,000. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on TFC. Raymond James raised their price target on Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Compass Point boosted 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. Robert W. Baird upgraded shares of Truist Financial from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $48.00 to $52.00 in a research report on Wednesday, March 5th. Citigroup lowered their price objective 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. Finally, Baird R W raised Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Nine investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $50.79.

Truist Financial Trading Down 1.3 %

NYSE:TFC opened at $41.42 on Friday. Truist Financial Co. has a 52 week low of $35.09 and a 52 week high of $49.06. 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 firm’s fifty day moving average is $44.93 and its 200-day moving average is $44.41. The firm has a market cap of $54.07 billion, a P/E ratio of 12.44, a P/E/G ratio of 1.63 and a beta of 1.08.

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

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.02%. Truist Financial’s dividend payout ratio (DPR) is presently 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.