Waterloo Capital L.P. Lowers Stock Holdings in Truist Financial Co. (NYSE:TFC)

Waterloo Capital L.P. reduced its position in Truist Financial Co. (NYSE:TFC) by 8.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,120 shares of the insurance provider’s stock after selling 1,009 shares during the quarter. Waterloo Capital L.P.’s holdings in Truist Financial were worth $482,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC boosted its stake in Truist Financial by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 27,975,691 shares of the insurance provider’s stock worth $1,210,348,000 after buying an additional 534,740 shares in the last quarter. Amundi boosted its stake in shares of Truist Financial by 6.5% in the 4th quarter. Amundi now owns 23,683,345 shares of the insurance provider’s stock valued at $1,040,718,000 after purchasing an additional 1,450,323 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Truist Financial by 7.9% during the 4th quarter. American Century Companies Inc. now owns 9,882,885 shares of the insurance provider’s stock valued at $428,720,000 after purchasing an additional 722,749 shares during the last quarter. Norges Bank bought a new position in shares of Truist Financial during the 4th quarter valued at $402,828,000. Finally, Bank of New York Mellon Corp raised its position in Truist Financial by 8.5% in the 4th quarter. Bank of New York Mellon Corp now owns 8,484,992 shares of the insurance provider’s stock worth $368,079,000 after purchasing an additional 662,179 shares during the period. 71.28% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TFC has been the topic of a number of recent research reports. Barclays raised their price objective on Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Compass Point raised their price target on Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Morgan Stanley lowered their price objective on Truist Financial from $50.00 to $43.00 and set an “equal weight” rating for the company in a research report on Monday. Stephens increased their price objective on Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Finally, HSBC raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research note on Tuesday, January 7th. One analyst has rated the stock with a sell rating, nine have given a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Truist Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.74.

Truist Financial Trading Up 0.9 %

TFC opened at $35.11 on Tuesday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. Truist Financial Co. has a 52 week low of $33.56 and a 52 week high of $49.06. The stock has a market cap of $45.83 billion, a PE ratio of 10.54, a PEG ratio of 1.63 and a beta of 0.91. The business has a 50 day moving average of $43.72 and a 200-day moving average of $44.28.

Truist Financial (NYSE:TFC) last announced its earnings results on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates 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 company’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.81 EPS. Equities research analysts predict that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders 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 5.92%. The ex-dividend date was Friday, February 14th. Truist Financial’s dividend payout ratio is 62.46%.

About Truist Financial

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.