Catalyst Funds Management Pty Ltd Makes New $416,000 Investment in Truist Financial Co. (NYSE:TFC)

Catalyst Funds Management Pty Ltd acquired a new stake in shares of Truist Financial Co. (NYSE:TFC) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 9,600 shares of the insurance provider’s stock, valued at approximately $416,000.

Other large investors have also modified their holdings of the company. Bangor Savings Bank raised its holdings 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. Valley Wealth Managers Inc. purchased a new position in shares of Truist Financial in the third quarter worth approximately $26,000. Hopwood Financial Services Inc. purchased a new position in shares of Truist Financial in the fourth quarter worth approximately $26,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Truist Financial in the third quarter valued at $32,000. Finally, True Wealth Design LLC acquired a new stake in shares of Truist Financial in the third quarter worth $51,000. 71.28% of the stock is owned by institutional investors.

Truist Financial Trading Up 2.7 %

Shares of Truist Financial stock opened at $40.54 on Friday. The firm has a market capitalization of $52.92 billion, a PE ratio of 12.17, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. The company’s fifty day moving average price is $45.38 and its two-hundred day moving average price is $44.56. Truist Financial Co. has a 52-week low of $34.51 and a 52-week 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.

Truist Financial (NYSE:TFC) last issued its 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 business had revenue of $5.11 billion during 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%. Truist Financial’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.81 EPS. On average, analysts expect that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders 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 5.13%. Truist Financial’s dividend payout ratio (DPR) is presently 62.46%.

Analysts Set New Price Targets

Several brokerages recently issued reports on TFC. Keefe, Bruyette & Woods increased their price objective on Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 21st. Piper Sandler upped their target price on Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Compass Point boosted their price target on Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Citigroup lifted their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the company a “neutral” rating in a research note on Monday, November 25th. Finally, Hsbc Global Res upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $51.16.

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.