Keybank National Association OH Has $4.08 Million Stake in Truist Financial Co. (NYSE:TFC)

Keybank National Association OH lowered its stake in shares of Truist Financial Co. (NYSE:TFC) by 5.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 93,994 shares of the insurance provider’s stock after selling 5,262 shares during the period. Keybank National Association OH’s holdings in Truist Financial were worth $4,077,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in TFC. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Truist Financial by 48.7% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,963 shares of the insurance provider’s stock worth $129,000 after buying an additional 971 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Truist Financial by 3.5% in the 3rd quarter. Principal Financial Group Inc. now owns 1,511,299 shares of the insurance provider’s stock worth $64,638,000 after buying an additional 50,637 shares during the last quarter. Cadence Bank boosted its stake in shares of Truist Financial by 101.6% in the 3rd quarter. Cadence Bank now owns 185,184 shares of the insurance provider’s stock worth $7,920,000 after buying an additional 93,322 shares during the last quarter. Country Club Bank boosted its stake in shares of Truist Financial by 719.8% in the 4th quarter. Country Club Bank now owns 45,499 shares of the insurance provider’s stock worth $1,973,000 after buying an additional 39,949 shares during the last quarter. Finally, David Wealth Management LLC purchased a new position in shares of Truist Financial in the 4th quarter worth approximately $2,354,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TFC. Barclays boosted their target price on Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. Compass Point boosted their target price on Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Keefe, Bruyette & Woods lifted their price target on shares of Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” rating in a report on Tuesday, January 21st. Morgan Stanley lifted their price target on shares of Truist Financial from $55.00 to $56.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. Finally, Piper Sandler lifted their price target on shares of Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Ten equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $51.16.

Truist Financial Trading Down 1.5 %

Shares of TFC stock opened at $43.11 on Thursday. The company’s fifty day simple moving average is $45.79 and its two-hundred day simple moving average is $44.67. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. Truist Financial Co. has a 1 year low of $34.51 and a 1 year high of $49.06. The stock has a market capitalization of $56.27 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 1.63 and a beta of 1.08.

Truist Financial (NYSE:TFC) last released 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. The firm had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The business’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.81 earnings per share. As a group, analysts anticipate 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 issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.08 annualized dividend and a dividend yield of 4.83%. 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.