4,479 Shares in Truist Financial Co. (NYSE:TFC) Purchased by Fidelis Capital Partners LLC

Fidelis Capital Partners LLC purchased a new position in Truist Financial Co. (NYSE:TFC) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,479 shares of the insurance provider’s stock, valued at approximately $210,000.

A number of other institutional investors also recently bought and sold shares of TFC. Bangor Savings Bank raised its stake in Truist Financial by 92.5% in the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock worth $25,000 after buying an additional 272 shares in the last quarter. Valley Wealth Managers Inc. bought a new position in Truist Financial in the third quarter worth about $26,000. MidAtlantic Capital Management Inc. bought a new position in Truist Financial in the third quarter worth about $32,000. Ashton Thomas Securities LLC bought a new position in Truist Financial in the third quarter worth about $45,000. Finally, True Wealth Design LLC bought a new position in Truist Financial in the third quarter worth about $51,000. 71.28% of the stock is owned by institutional investors.

Truist Financial Trading Down 1.5 %

Shares of TFC stock opened at $43.11 on Thursday. Truist Financial Co. has a 12-month low of $34.51 and a 12-month high of $49.06. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The firm’s 50 day moving average is $45.79 and its 200 day moving average is $44.67. The stock has a market capitalization of $56.27 billion, a P/E ratio of 12.94, a P/E/G ratio of 1.63 and a beta of 1.08.

Truist Financial (NYSE:TFC) last issued its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarter last year, the company posted $0.81 earnings per share. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. Research analysts expect that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.83%. The ex-dividend date was Friday, February 14th. Truist Financial’s dividend payout ratio is currently 62.46%.

Analysts Set New Price Targets

A number of brokerages have weighed in on TFC. Barclays upped their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Morgan Stanley upped their price objective on shares of Truist Financial from $55.00 to $56.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. Piper Sandler upped their price objective on shares of Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. HSBC upgraded shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a report on Tuesday, January 7th. Finally, The Goldman Sachs Group upped their price objective on shares of Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Ten research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Truist Financial currently has an average rating of “Moderate Buy” and a consensus price target of $51.16.

About Truist Financial

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.