Millstone Evans Group LLC Invests $108,000 in Truist Financial Co. (NYSE:TFC)

Millstone Evans Group LLC bought a new stake in shares of Truist Financial Co. (NYSE:TFC) during the 4th quarter, Holdings Channel reports. The institutional investor bought 2,483 shares of the insurance provider’s stock, valued at approximately $108,000.

Several other hedge funds also recently added to or reduced their stakes in TFC. Bangor Savings Bank increased its position in 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. acquired a new position in Truist Financial during the 4th quarter valued at about $26,000. Curio Wealth LLC acquired a new position in Truist Financial during the 4th quarter valued at about $45,000. True Wealth Design LLC acquired a new position in Truist Financial during the 3rd quarter valued at about $51,000. Finally, City State Bank increased its position in Truist Financial by 158.1% during the 4th quarter. City State Bank now owns 1,169 shares of the insurance provider’s stock valued at $51,000 after buying an additional 716 shares in the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TFC. Baird R W raised Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, January 17th. Barclays increased their price objective on Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Stephens increased 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. Finally, HSBC raised 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. Nine equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $51.16.

Truist Financial Trading Up 0.2 %

TFC opened at $41.41 on Friday. Truist Financial Co. has a 52 week low of $35.09 and a 52 week high of $49.06. The business has a fifty day simple moving average of $45.12 and a 200-day simple moving average of $44.45. The firm has a market cap of $54.05 billion, a P/E ratio of 12.43, a P/E/G ratio of 1.63 and a beta of 1.08. 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 (NYSE:TFC) last released its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.88 by $0.03. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The business had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.05 billion. During the same period last year, the business posted $0.81 earnings per share. The company’s quarterly revenue was up 3.4% on a year-over-year basis. On average, equities analysts expect that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

The company also recently declared 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 annualized dividend and a dividend yield of 5.02%. Truist Financial’s dividend 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.