FSB Premier Wealth Management Inc. Has $397,000 Position in Truist Financial Co. (NYSE:TFC)

FSB Premier Wealth Management Inc. reduced its stake in Truist Financial Co. (NYSE:TFC) by 8.9% in the 4th quarter, HoldingsChannel reports. The firm owned 9,148 shares of the insurance provider’s stock after selling 892 shares during the quarter. FSB Premier Wealth Management Inc.’s holdings in Truist Financial were worth $397,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Bangor Savings Bank raised its stake in 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 buying an additional 272 shares during the period. Hopwood Financial Services Inc. acquired a new position in shares of Truist Financial during the fourth quarter worth approximately $26,000. Curio Wealth LLC acquired a new position in shares of Truist Financial during the fourth quarter worth approximately $45,000. True Wealth Design LLC bought a new position in shares of Truist Financial in the 3rd quarter worth $51,000. Finally, City State Bank grew its position in Truist Financial by 158.1% in 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 period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on TFC. HSBC raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research note on Tuesday, January 7th. Baird R W raised Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Stephens lifted their target price on Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Robert W. Baird raised Truist Financial from a “neutral” rating to an “outperform” rating and increased their price target for the company from $48.00 to $52.00 in a research report on Wednesday, March 5th. Finally, Compass Point lifted their price objective on shares of Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Nine analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $50.68.

Truist Financial Stock Performance

NYSE:TFC opened at $40.46 on Monday. Truist Financial Co. has a 52-week low of $35.09 and a 52-week high of $49.06. The business’s fifty day moving average is $44.78 and its 200 day moving average is $44.44. 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 firm has a market cap of $52.81 billion, a price-to-earnings ratio of 12.15, a PEG ratio of 1.63 and a beta of 1.08.

Truist Financial (NYSE:TFC) last announced its earnings results 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. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The business had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.05 billion. During the same period in the prior year, the company earned $0.81 EPS. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. 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. Investors of record on Friday, February 14th were given a $0.52 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a yield of 5.14%. Truist Financial’s payout ratio is 62.46%.

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.