TCW Group Inc. Increases Stake in Truist Financial Co. (NYSE:TFC)

TCW Group Inc. lifted its stake in Truist Financial Co. (NYSE:TFC) by 2.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,707 shares of the insurance provider’s stock after buying an additional 469 shares during the quarter. TCW Group Inc.’s holdings in Truist Financial were worth $812,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Bangor Savings Bank grew its stake in 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 acquiring an additional 272 shares in the last quarter. Valley Wealth Managers Inc. purchased a new position in Truist Financial during the third quarter valued at $26,000. MidAtlantic Capital Management Inc. purchased a new position in Truist Financial during the third quarter valued at $32,000. Fortitude Family Office LLC boosted its stake in Truist Financial by 376.7% during the third quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock valued at $37,000 after buying an additional 678 shares during the last quarter. Finally, Ashton Thomas Securities LLC purchased a new position in Truist Financial during the 3rd quarter valued at approximately $45,000. Institutional investors own 71.28% of the company’s stock.

Insider Activity

In related news, Director K. David Jr. Boyer sold 4,966 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total value of $229,429.20. Following the completion of the sale, the director now directly owns 11,246 shares of the company’s stock, valued at $519,565.20. This represents a 30.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on TFC shares. Piper Sandler upped their price objective on 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 target on the stock in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods boosted their price target on shares of Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 21st. Barclays boosted their price target on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Finally, Hsbc Global Res upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Eleven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.79.

Truist Financial Stock Down 0.8 %

NYSE TFC opened at $45.31 on Tuesday. The firm has a market capitalization of $60.15 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 1.63 and a beta of 1.08. Truist Financial Co. has a 52 week low of $34.26 and a 52 week high of $49.06. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. The company has a fifty day moving average of $45.61 and a two-hundred day moving average of $44.54.

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. On average, analysts predict that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.59%. The ex-dividend date of this dividend is Friday, February 14th. Truist Financial’s dividend payout ratio is currently 62.46%.

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.