New Age Alpha Advisors LLC Acquires New Holdings in Truist Financial Co. (NYSE:TFC)

New Age Alpha Advisors LLC bought a new position in Truist Financial Co. (NYSE:TFC) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 97,172 shares of the insurance provider’s stock, valued at approximately $4,215,000.

Several other large investors have also recently bought and sold shares of TFC. Bangor Savings Bank boosted its stake in Truist Financial by 92.5% during the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock valued at $25,000 after buying an additional 272 shares during the period. Hopwood Financial Services Inc. purchased a new stake in shares of Truist Financial in the 4th quarter valued at about $26,000. Curio Wealth LLC bought a new stake in shares of Truist Financial during the 4th quarter valued at about $45,000. True Wealth Design LLC purchased a new position in shares of Truist Financial during the third quarter worth about $51,000. Finally, City State Bank increased its position in shares of Truist Financial by 158.1% in the fourth quarter. City State Bank now owns 1,169 shares of the insurance provider’s stock worth $51,000 after purchasing an additional 716 shares during the last quarter. 71.28% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on TFC. Robert W. Baird raised shares of Truist Financial from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $48.00 to $52.00 in a research note on Wednesday, March 5th. StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. HSBC raised Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research note on Tuesday, January 7th. Raymond James increased their price objective on Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Finally, Citigroup dropped their target price on Truist Financial from $51.00 to $44.00 and set a “neutral” rating for the company in a research report on Monday, March 24th. Nine investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $50.68.

Truist Financial Stock Performance

Truist Financial stock opened at $40.46 on Friday. Truist Financial Co. has a 1-year low of $35.09 and a 1-year high of $49.06. The firm has a market cap of $52.81 billion, a P/E ratio of 12.15, a P/E/G 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. The firm has a 50-day moving average of $44.78 and a 200-day moving average of $44.40.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. The firm had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period last year, the company earned $0.81 EPS. Sell-side analysts expect that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders 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 yield of 5.14%. Truist Financial’s dividend payout ratio (DPR) is presently 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.