Ted Buchan & Co Acquires 5,202 Shares of Truist Financial Co. (NYSE:TFC)

Ted Buchan & Co boosted its stake in shares of Truist Financial Co. (NYSE:TFC) by 25.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,929 shares of the insurance provider’s stock after buying an additional 5,202 shares during the quarter. Ted Buchan & Co’s holdings in Truist Financial were worth $1,135,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in TFC. Norges Bank acquired a new position in shares of Truist Financial in the 4th quarter worth approximately $402,828,000. Raymond James Financial Inc. acquired a new position in shares of Truist Financial during the 4th quarter valued at $198,051,000. State Street Corp boosted its stake in Truist Financial by 4.6% during the third quarter. State Street Corp now owns 61,864,957 shares of the insurance provider’s stock worth $2,645,964,000 after acquiring an additional 2,720,223 shares in the last quarter. Amundi grew its holdings in Truist Financial by 6.5% in the fourth quarter. Amundi now owns 23,683,345 shares of the insurance provider’s stock worth $1,040,718,000 after purchasing an additional 1,450,323 shares during the period. Finally, KBC Group NV increased its stake in Truist Financial by 96.9% in the fourth quarter. KBC Group NV now owns 2,031,893 shares of the insurance provider’s stock valued at $88,144,000 after purchasing an additional 999,763 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

TFC has been the topic of several recent research reports. JPMorgan Chase & Co. cut their price target on Truist Financial from $48.00 to $42.00 and set a “neutral” rating on the stock in a report on Thursday. Keefe, Bruyette & Woods lifted their price target on shares of Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a research report on Tuesday, January 21st. Stephens upped their price objective on shares of Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Barclays lifted their price objective 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, Citigroup lowered their target price on shares of Truist Financial from $51.00 to $44.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $50.42.

Truist Financial Price Performance

Shares of NYSE TFC opened at $34.80 on Friday. The firm has a market cap of $45.43 billion, a price-to-earnings ratio of 10.45, a price-to-earnings-growth ratio of 1.63 and a beta of 0.91. The stock has a fifty day simple moving average of $43.97 and a two-hundred day simple moving average of $44.30. 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 Co. has a 1-year low of $33.71 and a 1-year high of $49.06.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share 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 company had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.05 billion. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.81 EPS. Analysts anticipate that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.98%. The ex-dividend date was Friday, February 14th. Truist Financial’s 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.