Lowe Brockenbrough & Co. Inc. Decreases Stake in Truist Financial Co. (NYSE:TFC)

Lowe Brockenbrough & Co. Inc. reduced its stake in shares of Truist Financial Co. (NYSE:TFC) by 9.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 26,081 shares of the insurance provider’s stock after selling 2,775 shares during the period. Lowe Brockenbrough & Co. Inc.’s holdings in Truist Financial were worth $1,131,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Bangor Savings Bank boosted its position in shares of Truist Financial by 92.5% during the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 272 shares in the last quarter. Hopwood Financial Services Inc. purchased a new stake in shares of Truist Financial during the 4th quarter worth $26,000. Curio Wealth LLC purchased a new stake in shares of Truist Financial during the 4th quarter worth $45,000. City State Bank boosted its position in shares of Truist Financial by 158.1% during the 4th quarter. City State Bank now owns 1,169 shares of the insurance provider’s stock worth $51,000 after purchasing an additional 716 shares in the last quarter. Finally, True Wealth Design LLC purchased a new stake in shares of Truist Financial during the 3rd quarter worth $51,000. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Truist Financial Stock Up 0.2 %

TFC opened at $41.41 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a market capitalization of $54.05 billion, a price-to-earnings ratio of 12.43, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. The business has a 50-day moving average of $45.12 and a two-hundred day moving average of $44.45. Truist Financial Co. has a 12 month low of $35.09 and a 12 month high of $49.06.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.88 by $0.03. The company had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The firm’s revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.81 EPS. On average, research analysts expect that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.02%. The ex-dividend date of this dividend was Friday, February 14th. Truist Financial’s payout ratio is currently 62.46%.

Analyst Upgrades and Downgrades

TFC has been the subject of several research reports. StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. Robert W. Baird raised Truist Financial from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $48.00 to $52.00 in a research note on Wednesday, March 5th. Hsbc Global Res raised Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Compass Point lifted their price target on Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Finally, Raymond James lifted their price target on Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Nine equities research 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. According to MarketBeat.com, Truist Financial has an average rating of “Moderate Buy” and an average price target of $51.16.

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.