Huber Capital Management LLC Has $7.87 Million Position in Truist Financial Co. (NYSE:TFC)

Huber Capital Management LLC boosted its stake in Truist Financial Co. (NYSE:TFC) by 38.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 181,464 shares of the insurance provider’s stock after purchasing an additional 50,000 shares during the quarter. Truist Financial comprises about 1.6% of Huber Capital Management LLC’s holdings, making the stock its 26th biggest position. Huber Capital Management LLC’s holdings in Truist Financial were worth $7,872,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Bangor Savings Bank boosted its holdings in Truist Financial by 92.5% in the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock worth $25,000 after acquiring an additional 272 shares in the last quarter. Hopwood Financial Services Inc. acquired a new stake in shares of Truist Financial in the 4th quarter worth about $26,000. Curio Wealth LLC bought a new position in Truist Financial in the 4th quarter valued at about $45,000. City State Bank boosted its stake in Truist Financial by 158.1% during the 4th 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. purchased a new position in Truist Financial during the 4th quarter worth $55,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Robert W. Baird upgraded shares of Truist Financial from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $48.00 to $52.00 in a research note on Wednesday, March 5th. Barclays raised their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Stephens lifted their price target on Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. HSBC upgraded 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. Finally, Citigroup dropped their price objective on Truist Financial from $51.00 to $44.00 and set a “neutral” rating for the company in a research note on Monday, March 24th. Ten investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Truist Financial has an average rating of “Moderate Buy” and an average price target of $50.68.

Truist Financial Price Performance

TFC opened at $41.60 on Thursday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. The stock has a market capitalization of $54.30 billion, a PE ratio of 12.49, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. The stock’s 50 day moving average price is $44.41 and its 200-day moving average price is $44.41. Truist Financial Co. has a 52-week low of $35.09 and a 52-week high of $49.06.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.88 by $0.03. The business 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 company’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.81 EPS. On average, equities research analysts predict that Truist Financial Co. will post 4 EPS 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 given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 5.00%. The ex-dividend date of this dividend was Friday, February 14th. Truist Financial’s dividend payout ratio is currently 62.46%.

Truist Financial Company 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.