Wilkins Investment Counsel Inc. Has $433,000 Position in Truist Financial Co. (NYSE:TFC)

Wilkins Investment Counsel Inc. reduced its holdings in Truist Financial Co. (NYSE:TFC) by 6.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,975 shares of the insurance provider’s stock after selling 645 shares during the period. Wilkins Investment Counsel Inc.’s holdings in Truist Financial were worth $433,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in Truist Financial by 48.7% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,963 shares of the insurance provider’s stock valued at $129,000 after buying an additional 971 shares during the period. Principal Financial Group Inc. lifted its holdings in Truist Financial by 3.5% in the third quarter. Principal Financial Group Inc. now owns 1,511,299 shares of the insurance provider’s stock valued at $64,638,000 after buying an additional 50,637 shares during the period. Cadence Bank increased its stake in Truist Financial by 101.6% in the third quarter. Cadence Bank now owns 185,184 shares of the insurance provider’s stock valued at $7,920,000 after purchasing an additional 93,322 shares in the last quarter. Country Club Bank increased its stake in Truist Financial by 719.8% in the fourth quarter. Country Club Bank now owns 45,499 shares of the insurance provider’s stock valued at $1,973,000 after purchasing an additional 39,949 shares in the last quarter. Finally, David Wealth Management LLC bought a new stake in Truist Financial in the fourth quarter valued at approximately $2,354,000. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Compass Point upped their target price on shares of Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Robert W. Baird raised shares of Truist Financial from a “neutral” rating to an “outperform” rating and upped their target price for the company from $48.00 to $52.00 in a research note on Wednesday, March 5th. Hsbc Global Res raised shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods upped their target price on shares of Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a research note on Tuesday, January 21st. Finally, StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. Nine 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’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $51.16.

Truist Financial Stock Performance

Shares of TFC opened at $41.29 on Thursday. Truist Financial Co. has a 12 month low of $35.09 and a 12 month high of $49.06. The firm has a fifty day simple moving average of $45.20 and a 200 day simple moving average of $44.50. The stock has a market capitalization of $53.90 billion, a price-to-earnings ratio of 12.40, a PEG ratio of 1.63 and a beta of 1.08. 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 (NYSE:TFC) last announced its earnings results on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.88 by $0.03. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The business had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.05 billion. During the same quarter in the prior year, the company posted $0.81 earnings per share. The firm’s revenue was up 3.4% on a year-over-year basis. Research analysts forecast that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 5.04%. The ex-dividend date was Friday, February 14th. Truist Financial’s 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.