Logan Capital Management Inc. Raises Stock Position in Truist Financial Co. (NYSE:TFC)

Logan Capital Management Inc. grew its stake in Truist Financial Co. (NYSE:TFC) by 0.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 190,384 shares of the insurance provider’s stock after purchasing an additional 1,349 shares during the quarter. Logan Capital Management Inc.’s holdings in Truist Financial were worth $8,259,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Hopwood Financial Services Inc. acquired a new stake in Truist Financial in the 4th quarter worth about $26,000. Navigoe LLC purchased a new position in shares of Truist Financial during the 4th quarter worth $26,000. Curio Wealth LLC acquired a new position in Truist Financial in the fourth quarter valued at approximately $45,000. City State Bank increased its position in shares of Truist Financial by 158.1% during the 4th quarter. City State Bank now owns 1,169 shares of the insurance provider’s stock worth $51,000 after purchasing an additional 716 shares during the last quarter. Finally, Brown Lisle Cummings Inc. acquired a new position in shares of Truist Financial in the 4th quarter worth approximately $55,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Trading Down 1.7%

NYSE:TFC opened at $38.88 on Monday. The company has a market cap of $50.91 billion, a PE ratio of 11.68, a P/E/G ratio of 1.63 and a beta of 0.83. The business’s 50 day moving average is $38.86 and its two-hundred day moving average is $43.30. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. Truist Financial Co. has a 52 week low of $33.56 and a 52 week high of $49.06.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Thursday, April 17th. The insurance provider reported $0.87 EPS for the quarter, hitting analysts’ consensus estimates of $0.87. The firm had revenue of $4.95 billion during the quarter, compared to the consensus estimate of $4.99 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. During the same quarter in the previous year, the company posted $0.90 earnings per share. On average, analysts predict that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Friday, May 9th will be paid a $0.52 dividend. The ex-dividend date is Friday, May 9th. This represents a $2.08 dividend on an annualized basis and a yield of 5.35%. Truist Financial’s payout ratio is currently 61.36%.

Analyst Ratings Changes

TFC has been the topic of several recent research reports. Citigroup cut their target price on shares of Truist Financial from $51.00 to $44.00 and set a “neutral” rating on the stock in a research note on Monday, March 24th. StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, May 7th. Piper Sandler cut their price target on Truist Financial from $45.00 to $41.00 and set a “neutral” rating on the stock in a research report on Monday, April 21st. Barclays decreased their price objective on Truist Financial from $51.00 to $47.00 and set an “equal weight” rating for the company in a report on Monday, April 21st. Finally, Baird R W upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Eight analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Truist Financial has an average rating of “Moderate Buy” and an average price target of $48.06.

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.