F M Investments LLC Acquires 14,116 Shares of Truist Financial Co. (NYSE:TFC)

F M Investments LLC boosted its stake in Truist Financial Co. (NYSE:TFC) by 6.6% in the fourth quarter, HoldingsChannel reports. The firm owned 229,086 shares of the insurance provider’s stock after buying an additional 14,116 shares during the period. F M Investments LLC’s holdings in Truist Financial were worth $9,938,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Bangor Savings Bank raised 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 buying an additional 272 shares in the last quarter. Hopwood Financial Services Inc. purchased a new position in shares of Truist Financial in the 4th quarter worth about $26,000. Curio Wealth LLC bought a new position in shares of Truist Financial during the fourth quarter valued at $45,000. City State Bank boosted 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 worth $51,000 after buying an additional 716 shares during the last quarter. Finally, Brown Lisle Cummings Inc. bought a new stake in shares of Truist Financial during the 4th quarter valued at $55,000. 71.28% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on TFC. StockNews.com downgraded Truist Financial from a “hold” rating to a “sell” rating in a report on Thursday, April 3rd. JPMorgan Chase & Co. cut their target price on 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 increased their target price on Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Keefe, Bruyette & Woods increased their price target on shares of Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a research note on Tuesday, January 21st. Finally, Citigroup cut 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, March 24th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $50.22.

Truist Financial Price Performance

TFC opened at $38.06 on Thursday. Truist Financial Co. has a 1 year low of $33.56 and a 1 year high of $49.06. The firm has a market cap of $49.68 billion, a PE ratio of 11.43, a P/E/G ratio of 1.63 and a beta of 0.91. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a 50-day moving average price of $42.83 and a 200-day moving average price of $44.09.

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

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders 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 annualized dividend and a yield of 5.47%. Truist Financial’s payout ratio is currently 62.46%.

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.