O Shaughnessy Asset Management LLC Purchases 14,968 Shares of Truist Financial Co. (NYSE:TFC)

O Shaughnessy Asset Management LLC increased its position in Truist Financial Co. (NYSE:TFC) by 8.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 182,704 shares of the insurance provider’s stock after acquiring an additional 14,968 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Truist Financial were worth $7,926,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TFC. Bangor Savings Bank boosted its position in shares of Truist Financial by 92.5% during 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 during the last quarter. Hopwood Financial Services Inc. purchased a new stake in shares of Truist Financial during the 4th quarter valued at about $26,000. Curio Wealth LLC bought a new stake in shares of Truist Financial in the fourth quarter worth approximately $45,000. City State Bank raised its holdings in shares of Truist Financial by 158.1% during the fourth quarter. City State Bank now owns 1,169 shares of the insurance provider’s stock valued at $51,000 after purchasing an additional 716 shares during the last quarter. Finally, Brown Lisle Cummings Inc. bought a new position in Truist Financial during the fourth quarter valued at approximately $55,000. 71.28% of the stock is owned by institutional investors.

Truist Financial Price Performance

Truist Financial stock opened at $41.00 on Wednesday. The firm has a market capitalization of $53.51 billion, a PE ratio of 12.31, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. Truist Financial Co. has a 12-month low of $35.09 and a 12-month high of $49.06. The firm has a 50-day moving average price of $44.51 and a 200-day moving average price of $44.43. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61.

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, beating analysts’ consensus estimates of $0.88 by $0.03. The firm had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The business’s revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.81 earnings per share. As a group, equities research analysts forecast that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Announces Dividend

The business also recently announced 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. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.07%. The ex-dividend date of this dividend was Friday, February 14th. Truist Financial’s dividend payout ratio (DPR) is presently 62.46%.

Wall Street Analysts Forecast Growth

TFC has been the subject of a number of research reports. 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 note on Tuesday, December 10th. Keefe, Bruyette & Woods increased their price objective on shares of Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 21st. Robert W. Baird upgraded Truist Financial from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $48.00 to $52.00 in a research report on Wednesday, March 5th. Barclays lifted their price target on shares of Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Finally, Wells Fargo & Company dropped their price objective on Truist Financial from $52.00 to $50.00 and set an “overweight” rating for the company in a research note on Friday, March 28th. Nine analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $50.68.

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.