National Bank of Canada FI Has $35.73 Million Stock Position in Truist Financial Co. (NYSE:TFC)

National Bank of Canada FI boosted its stake in Truist Financial Co. (NYSE:TFC) by 0.2% in the fourth quarter, Holdings Channel reports. The firm owned 823,632 shares of the insurance provider’s stock after purchasing an additional 1,927 shares during the quarter. National Bank of Canada FI’s holdings in Truist Financial were worth $35,729,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of TFC. Bangor Savings Bank raised its position in shares of Truist Financial by 92.5% in the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock valued at $25,000 after buying an additional 272 shares in the last quarter. Hopwood Financial Services Inc. bought a new position in Truist Financial in the fourth quarter valued at approximately $26,000. Curio Wealth LLC acquired a new position in Truist Financial during the fourth quarter valued at approximately $45,000. City State Bank lifted its stake in Truist Financial by 158.1% during 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. Finally, Brown Lisle Cummings Inc. acquired a new stake in shares of Truist Financial in the 4th quarter valued at $55,000. Institutional investors own 71.28% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Wells Fargo & Company dropped their price objective on Truist Financial from $52.00 to $50.00 and set an “overweight” rating for the company in a research report on Friday, March 28th. Citigroup decreased their price target on shares of Truist Financial from $51.00 to $44.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. HSBC upgraded shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research report on Tuesday, January 7th. Compass Point boosted their target price on shares of Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Finally, Keefe, Bruyette & Woods increased their price target on Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a research note on Tuesday, January 21st. Ten analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $50.68.

Truist Financial Stock Up 1.4 %

Shares of NYSE:TFC opened at $41.60 on Thursday. Truist Financial Co. has a 1 year low of $35.09 and a 1 year high of $49.06. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. The business’s 50-day moving average is $44.41 and its 200-day moving average is $44.41. The company has a market capitalization of $54.30 billion, a price-to-earnings ratio of 12.49, a P/E/G ratio of 1.63 and a beta of 1.08.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) 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 analysts’ expectations of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.81 EPS. Equities research analysts predict that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 5.00%. The ex-dividend date was Friday, February 14th. Truist Financial’s dividend payout ratio (DPR) is currently 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.