Scotia Capital Inc. Makes New $227,000 Investment in Truist Financial Co. (NYSE:TFC)

Scotia Capital Inc. acquired a new stake in Truist Financial Co. (NYSE:TFCFree Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 6,140 shares of the insurance provider’s stock, valued at approximately $227,000.

Several other institutional investors also recently modified their holdings of TFC. Missouri Trust & Investment Co grew its holdings in Truist Financial by 227.2% during the fourth quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 593 shares during the period. Northwest Financial Advisors acquired a new position in shares of Truist Financial during the 4th quarter worth approximately $34,000. Morton Brown Family Wealth LLC raised its stake in Truist Financial by 236.0% in the 4th quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 649 shares during the period. Criterion Capital Advisors LLC acquired a new stake in Truist Financial during the 4th quarter valued at $38,000. Finally, Operose Advisors LLC bought a new position in Truist Financial during the third quarter worth $31,000. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Stock Performance

Shares of Truist Financial stock opened at $36.63 on Thursday. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.82 and a quick ratio of 0.82. Truist Financial Co. has a twelve month low of $26.57 and a twelve month high of $40.51. The company’s fifty day moving average is $38.19 and its 200 day moving average is $36.67.

Truist Financial (NYSE:TFCGet Free Report) last issued its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.12. The company had revenue of $4.87 billion during the quarter, compared to the consensus estimate of $5.70 billion. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The firm’s revenue was down 8.8% compared to the same quarter last year. During the same period last year, the company earned $1.09 earnings per share. On average, sell-side analysts predict that Truist Financial Co. will post 3.33 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 10th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.68%. The ex-dividend date of this dividend was Thursday, May 9th. Truist Financial’s dividend payout ratio is currently -157.58%.

Analyst Upgrades and Downgrades

TFC has been the topic of several research analyst reports. TheStreet lowered shares of Truist Financial from a “b-” rating to a “c” rating in a research report on Tuesday, February 20th. Jefferies Financial Group raised their price objective on shares of Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. Citigroup upped their target price on Truist Financial from $42.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Evercore ISI reissued an “in-line” rating and set a $44.00 price target on shares of Truist Financial in a report on Thursday, May 9th. Finally, Stephens upped their price objective on Truist Financial from $43.00 to $47.00 and gave the company an “overweight” rating in a report on Thursday, May 16th. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Truist Financial has a consensus rating of “Moderate Buy” and a consensus target price of $43.17.

Read Our Latest Stock Report on TFC

Truist Financial Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Truist Financial (NYSE:TFC)

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